Indicators on high-quality dev't should be observed to measure China's economy: official

Not only indicators on aggregates, but also those in high-quality development should be taken into account to measure China's economy, said an official of the National Bureau of Statistics in Beijing on Tuesday.

At a press conference, Sheng Laiyun, deputy director of the bureau, briefed media on China's economic development in the first quarter of 2024, and the reasons why some indicators saw very slight growth and even decline in March.

In March, China's foreign trade volume was 3.558 trillion yuan (around 500.81 billion U.S. dollars), down 1.3 percent year one year, while the consumer price index increased by only 0.1 percent and the producer price index decreased by 2.8 percent year on year.

Sheng said the slight year-on-year growth and decline were attributed to a comparison with the high bases last March, but the actual productivity remained considerable this March.

"In January and February last year, some places were still affected by COVID-19 pandemic, so they had to postpone their exports, delivery of ordered products, and production to March. In March and April last year, the indicators on industrial production and imports and exports reached a high level, and some industries saw a small boom in production and sales. All these became high bases for comparison. Thus, this year the growth saw a drop from these bases," said Sheng.

Sheng said more and more positive factors are contributing to the continued economic recovery at present.

"The overseas demand is recovering. Although the world economy faces many complex situations and great uncertainties, some indicators show that it is recovering as the global purchasing managers' index in the manufacturing sector reached 50.6 percent in March, an increase for three consecutive months. I also noticed the indicators on global freight released by the World Trade Organization (WTO) and the China Council for the Promotion of International Trade. The WTO estimated that the global trade in goods is likely to grow by 2.6 percent this year, while the number was negative last year. It will be conducive to supporting the demand of exports," he said.

Sheng said many indicators, including the purchasing managers' index that stood at 50.8 percent in March, up 1.7 percentage points from last month, show that China's economy is recovering.

The economic recovery will be sustained due to policies like subsidies for the replacement of old consumer goods and equipment with new ones, and the sound development of holiday economy, he said.

Sheng said factors for high-quality development should be also observed in measurement of China's economy, including the research and development expenditure in innovation which accounted for 2.64 percent of the GDP last year, growing from 1.91 percent in 2012.

"When we observe China's economy, we should not only consider the indicators on aggregates, but also consider the improvement of development quality and benefits, including the progress in China's economic restructuring and high-quality development. The urbanization rate of China we released last year was 66.2 percent, an increase of around 1 percent year by year. China's export volume accounted for around 14 percent of the global market, while the figure was around 10 percent in 2012. In addition, our economic aggregate and resident income have more than doubled from then," he said.

Indicators on high-quality dev't should be observed to measure China's economy: official

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