New boom in Chinese economy benefits China-Pakistan cooperation

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In early 2021, encouraging news arrives from China. According to the preliminary calculation of the National Bureau of Statistics of China, China’s GDP in 2020 reached 101.6 trillion yuan (about 14.7 trillion dollars), up 2.3% from 2019. For the first times, China’s GDP has exceeded 100,000 billion yuan. threshold, making a historic leap.

This jump is significant

For China, this leap marks an important step in the path of Chinese national rejuvenation. The GDP of 100,000 billion yuan and the GDP per capita of USD 10,000 for the second consecutive year indicate a new high in the overall national strength and living standards of the people. He has laid a solid foundation for China by implementing the 14th Five-Year Plan (2021-2025) and embarking on a new journey towards the full construction of a modern socialist country. It also created sufficient space for China to follow a new development philosophy and promote a new development paradigm with national circulations as a pillar and mutually reinforcing national and international circulations.

For the world, this leap is a hot ray of sunshine amid the economic gloom. The global economy has been hit hard by the COVID-19 pandemic. China is the first and only major economy to show positive growth in 2020, injecting momentum into the global economic recovery. China’s share in the global economy is expected to reach around 17%. China’s growing economy will further enhance its foreign trade and investment potential, strengthen the interconnection and mutual promotion of Chinese and world markets, and further contribute to improving global economic governance, the construction of an open world economy and a community of destiny for humanity.

This leap is hard earned

This leap is attributed to the wise leadership of the Chinese Communist Party (CCP). In the face of the sudden outbreak of the COVID-19 pandemic and the turbulent external environment, the CCP united and led all the Chinese people to react calmly and meet the challenges. The CPC Central Committee, with President Xi Jinping as its core, assessed the situation from a long-term perspective while taking into account national and international situations, coordinated pandemic control and socio-economic development, and resolutely adopted a series of important measures. CPC organizations at all levels strictly implemented the decisions and instructions of the CPC Central Committee. The majority of the CCP members have actively responded to the Party’s appeal by rushing to the front lines in the fight against the pandemic and have played a leading role in all fields. The judgment, decision and actions taken by the CCP are decisive in helping China take the lead in controlling the COVID-19 pandemic, resuming work and production, and achieving positive economic growth .

This leap is attributed to the unique advantages of the socialist system with Chinese characteristics. First, this system ensures that the whole nation acts in a coordinated manner. Both in the response to COVID-19 and in economic development, China is giving full play to the initiative of central and local governments. Local governments cooperate with central government and central government assists local governments. At the local level, governments also support each other under the coordination of central government. Second, the socialist system with Chinese characteristics ensures that we focus our efforts on major tasks. Faced with arduous development tasks, China, believing that “the right steel is used for the edge”, is focusing on the most important tasks with the best resources, and has made progress in reducing poverty, research and development of vaccines and innovation technologies. Third, the socialist system with Chinese characteristics ensures that we carry out coherent planning to achieve coherent development. 2020 was the last year of China’s 13th Five-Year Plan. China maintained its strategic direction, overcame the impact of COVID-19, stayed true to its goals, and completed the development tasks specified in the 13th Five-Year Plan on time. These advantages form the institutional basis for the resilience of the Chinese economy.

This leap is attributed to China’s adherence to reform and openness. China is not swayed by the historic cross-currents of unilateralism and protectionism, and does not fear the threat of decoupling, supply disruption or sanctions. We argue that the quality of development and the vitality of the market must be enhanced by deepening reforms and opening up. China has taken the initiative to maintain the stability of the global supply chain, industrial chain and value chain. With trade in goods and the actual use of foreign investment rising against the grain, China has maintained its status as the largest trading nation and has become the largest host country for foreign direct investment (FDI). In addition, the “Belt and Road Initiative” continued to progress steadily, the Regional Comprehensive Economic Partnership (RCEP) was successfully signed, and the China-EU Comprehensive Agreement on Investment completed negotiations. on time. Reform and openness are the source of China’s economic vitality.

This jump benefits Sino-Pakistani cooperation

The new leap in China’s economy is the result of China’s adherence to self-reliance and openness, the hard work of the Chinese people, as well as the support and contributions of friends from various countries, including Pakistan. Therefore, the expansion of China’s economic volume will not only benefit the Chinese people, but also have a positive impact on the international community, especially by creating more development opportunities for Pakistan, the strategic cooperative partner of China. China at all times. With the development of the China-Pakistan Economic Corridor (CPEC) and the implementation of the second phase of the protocol of the China-Pakistan Free Trade Agreement, China’s new economic leap will bring a larger market and potential. deeper cooperation for Pakistan, solid material base to improve Sino-Pakistan practical cooperation.

China’s good economic performance can strengthen the determination and confidence of the two countries to unite their efforts in the fight against the pandemic. In the just concluded dialogue on the World Economic Forum’s Davos agenda, President Xi Jinping said China will continue to actively participate in international cooperation on COVID-19 and continue to implement a strategy win-win opening. China still faces a tense anti-pandemic situation and there is a serious gap between supply and demand in vaccine production. Even so, China, as a great responsible country in the international community and a reliable partner who resists the test in the face of danger, will do its best to make Chinese vaccines safe and effective available and affordable for the people of Pakistan. , and to quickly stimulate the Pakistani economy to fully recover.

This year marks the 70th anniversary of the establishment of diplomatic relations between China and Pakistan. China will take this opportunity to accelerate the high-quality development of CPEC. The two sides are in close communication and are seriously preparing for the upcoming 10th meeting of the Joint Cooperation Committee of the CPEC. In the next step, the two countries will take well-targeted measures to develop the port of Gwadar, industrial parks, agriculture, science and technology, assisting the development of Pakistan towards industrialization, urbanization, digitization and agricultural modernization. We also welcome friends from all walks of life to Pakistan to better understand contemporary China, promote bilateral exchanges and cooperation, and give new impetus to this proven friendship!


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