Chinese economy: the government promises a unified market and a boost to foreign trade

The Chinese government is committed to building a more unified market while strengthening international cooperation. The remark was made during a press conference earlier on local and foreign trade in China. This is part of a series of press briefings on domestic developments over the past decade. Yang Shanshan has more.

Consumption has always contributed to China’s growth. It accounted for 65.4% of the country’s gross domestic product last year.

Officials have singled it out as an engine of economic development. They say they want to focus on better regulation of the Chinese market for a fairer trading environment.

PU CHUN Vice Minister State Administration for Market Regulation “We will focus on a unified domestic market to facilitate domestic circulation and help the Chinese economy further integrate with the international market. We will continue to remove local protectionism and market divisions for a fair and competitive market. »

China’s imports and exports have hit record highs over the past 10 years. Its global market share has increased from 10% in 2012 to 13.5% in 2021.

China is one of the world’s leading trading nations and it wants to promote this role through its Belt and Road Initiative.

SHENG QIUPING Vice Minister of Commerce “The Belt and Road Initiative has increased trade volume from approximately US$1.04 trillion in 2013 to US$1.8 trillion in 2021. It has brought economic benefits, employment and welfare to the people of the Belt and Road member states. Although the pandemic has dealt a blow to the global economy, China will continue to promote the development of high quality of the Belt and Road Initiative, will bring vitality to global cooperation and help build a shared future for all mankind.

YANG SHANSHAN CGTN Reporter “China is also committed to opening up more to the rest of the world, improving the business environment, welcoming more foreign investment and promoting international cooperation. YANG SHANSHAN, CGTN.
Source: CGTN

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