The Strengths and Favorable Conditions Underpinning China’s Economy

Stable foundations

China’s economy is vast in terms of both scale and market capacity; its industrial support capabilities are strong; and supply and demand are both robust enough to underpin the domestic economy. These are the basic pillars that support steady and sustainable economic growth.

Numerous strengths

China possesses multiple strengths that not many other countries can boast. It enjoys the economies of scale and market advantages of a large economy, the qualitative strengths of a strong talent pool, good innovative capabilities, and social stability, and the unique institutional strengths offered by the CPC’s leadership and a socialist market economy. All this provides the basis for China’s strong international competitiveness. China is currently a major trading partner for 150 countries and regions. It is experiencing a growing demand for economic and trade cooperation from developing countries and a number of developed nations, all of which reflect China’s strong international standing.

Strong resilience

China’s companies possess a bold and enterprising mindset and operational flexibility, while the Chinese people are industrious, ingenious, and tenacious. This gives our country a remarkable ability to adapt to changing circumstances. At the same time, China also has a vast territory, a high household savings rate, and a comprehensive industrial structure, giving our economy a strong capacity to resist risks and withstand shocks.

Huge potential

China has a population of 1.4 billion, with more than 400 million people in its middle-income group and over 200 million people with higher education. For 11 consecutive years, China has maintained the largest pool of scientific and research personnel. All this has created a solid foundation for innovation-driven development. Significant room remains for further urbanization. The country’s per capita infrastructure level lags behind that of developed countries, and there is considerable potential to expand domestic demand. By furthering comprehensive reform, we will continue to inject fresh vitality into the market, while the sustained effects of new and existing policies will ensure strong support for economic development. 

Editor: Li Xiaoqiong