High-end industrial production in China helped lead the country's strong first quarter of economic growth, according to macroeconomists in the country.
China's gross domestic product (GDP) grew 5.3 percent year on year during that period, data from the National Bureau of Statistics released Tuesday showed. The country's value-added industrial output, an important indicator for the health of the manufacturing sector, rose 6.1 percent year on year.
Feng Ming, director of the macroeconomic think tank research office of the Chinese Academy of Social Sciences, said that innovation is playing the leading role in this trend, in line with the national strategy of prioritizing "new quality productive forces" driven by technological breakthroughs.
"The overall situation of industrial production in the first quarter has exceeded expectations. The prosperity index in areas that represent the development direction of the new quality productive forces such as new energy vehicles, high-end ships, integrated circuits, computing equipment and others are quite promising, and they have become an important driving force for economic growth," said Feng.
"Investment in manufacturing was a highlight in the first quarter of this year, especially in high-tech manufacturing where investment has continued to grow at a high rate despite a high starting point in recent years. Expectations for microeconomic entities are improving, particularly in new fields and emerging sectors representing directions for economic development. Innovation and entrepreneurial activities in these new tracks and areas are also becoming increasingly active," he added.
According to Wei Qijia, an industrial economist at China's State Information Center, the solid start in the first quarter has laid a solid foundation for achieving the annual economic growth target of around 5 percent.
"This positive sign will play a crucial role in boosting confidence among business entities, thus promoting a virtuous cycle of investment and consumption. Expectations for overall economic and social development will also be strongly bolstered by this outlook," said Wei, director of the industrial economy research office at the center's department of economic forecasting.
Innovative manufacuring drives China's robust Q1 growth: economists
The year 2024 celebrates the 60th anniversary of China-France diplomatic ties, and it also heralds the China-France Year of Cultural Tourism, a celebration aimed at bolstering cultural and people-to-people exchanges through a series of enriching events.
During a special episode focused on this milestone, cultural experts and influencers from both nations shared insights into the depth of Sino-French cultural interactions.
The discussion, livestreamed from Shanghai on April 22, began with a historical overview, notably when then-Chinese Premier Zhou Enlai introduced President Georges Pompidou to the Yungang Grottoes, a renowned Buddhist cave site in north China's Shanxi. These caves feature intricate carvings that reflect religious and cultural syntheses from the 5th and 6th centuries.
David Gosset, founder of the China-Europe-America Global Initiative, commented on the geopolitical context of the initial outreach.
"People have to remember that we were in the middle of the Cold War, therefore, the world was divided. For a Western country like France to reach out to China, and of course vice versa, it's a beautiful moment, historical diplomatic breakthroughs, means that despite all the geopolitical difficulties, a spirit of cooperation and friendship can prevail," said Gosset.
Xie Dingwei, executive director of the Bund One Art Museum, emphasized the importance of preserving cultural heritage.
"We need to preserve these cultural heritages. We not [just] preserve the sculptures or the buildings itself, but also, it gives us a chance to see hundreds of years ago, how our craftsmanship, our architecture, our human beings, we have reached [such] high levels, which brings us to the present time these treasures, these values. This is something we really cannot afford to lose. Culture is a common language; it doesn't matter you're Eastern art or Western art, somehow they can be connected. So this is something I think it creates a communication channel between the nations," said Xie.
The cultural connection was recently demonstrated during a meeting last April between French President Emmanuel Macron and Chinese President Xi Jinping, where they enjoyed the performance of "Flowing Water" played on the Guqin by a Chinese artist, symbolizing the flowing friendship between the two nations.
"This communication on art subjects between the nations and different peoples are really, really important. It goes beyond politics, beyond the differences between the nations. But you all go to getting closer to understanding each other," said Xie.
Gosset also supported the notion of fostering unity through cultural platforms, aligning with President Xi Jinping's idea of building a community with a shared future.
"I am completely aligned with this idea. We are on the same boat. Our world is frightened by too many divisions. And I think, what is important is to support the forces that can unite us, so it can be music, and certainly museums, and you need leaders with a vision that does not separate us," said Gosset.
Six decades of China-France diplomatic relations highlighted by cultural exchange
