China to continue sharing development achievements with world: FM spokesperson

BEIJING -- A Chinese foreign ministry spokesperson on Thursday said China will continue to expand high-level opening up, improve the business environment, step up intellectual property protection, form an open and globally competitive innovation eco-system and share with the world China's development achievements.

According to media reports, Steven Barnett, the International Monetary Fund (IMF) Senior Resident Representative in China, said in an interview that China will contribute one-third of global economic growth in 2023. He predicted that higher and more resilient growth is within reach for China in 2024.

"Lately, many international organizations like the IMF and the Organization for Economic Cooperation and Development (OECD) have revised up their 2023 growth projections for China and are confident in China's economic prospects next year," spokesperson Wang Wenbin said when asked to comment on the interview at a daily news briefing.

Wang said China is widely considered the biggest driver for the world economy. The research of the IMF shows that faster growth in China has positive spillovers on the rest of the world. A one percentage point increase in China would, on average, increase the level of output in other economies by 0.3 percent.

Noting that China has a hyper-scale market with the biggest potential in the world, Wang said macroeconomic policies introduced by the Chinese government have given the economy a strong push. There is ample room for enhanced implementation of monetary and fiscal polices. China's deepening of reform and opening up across the board provides strong impetus for sustained sound economic development. A new round of scientific and technological revolution and industrial transformation in the world also presents a broad stage for the Chinese economy.

All in all, there are more favorable conditions than adverse factors for China's development, the trend of economic rebound and sound long-term trajectory has not changed, and the factors and conditions supporting high-quality development are increasing, Wang added.

"We welcome businesses from around the world to continue coming to China for global success," Wang said.