The long-term positive upturn trend of China's economy is not to change, said Foreign Ministry spokesman Wang Wenbin at a press briefing in Beijing on Wednesday.
Wang made the remarks in response to reports that since the National Bureau of Statistics released China's economic data for the first quarter of this year, Goldman Sachs, Morgan Stanley, Deutsche Bank and many other international financial institutions have lifted their China 2024 growth forecasts.
"China's economy got off to a good start in the first quarter this year. Indicators for the 'troika' of consumption, investment and export operated well, and the four major macroeconomic indicators of growth, employment, inflation and balance of payments remained stable on the whole, presenting a vibrant spring scenario of sustained economic recovery and growth. In the first quarter, China's GDP expanded 5.3 percent year on year, in which domestic demand contributed 85.5 percent to the economic growth, making it a main force driving the economic growth. A report by the United Nations Conference on Trade and Development predicted that China will realize its goal of around-5-percent economic growth this year. The Foreign Direct Investment Confidence Index report released by American management consulting firm Kearney showed that China's ranking has jumped from the seventh place last year to the third place. A Bloomberg report also showed that in the next five years, China will take the biggest share in the world's new economic activities," said Wang.
"Looking ahead, the long-term positive upturn trend of China's economy will remain unchanged. We believe that with the continuous progress of high-quality development and high-level opening-up, China's economy will quicken its pace in transformation and upgrading on the basis of steady progress and make even greater contributions to the world economy," he said.
Positive upturn trend of China's economy not to change: spokesman
