China's steady economic growth vital to global development: foreign experts

China

China's steady economic growth vital to global development: foreign experts

2025-01-18 22:27 Last Updated At：23:07

China's steady economic growth is vital to global development and the path of China's development will help shape the future of the world, foreign experts said.

The official data released by China's National Bureau of Statistics showed that the country's gross domestic product (GDP) grew five percent year on year to reach 134.9084 trillion yuan in 2024, meeting the annual target of around five percent.

"The speed of growth in China is remarkable, innovative spirit, connecting countryside to the city side, high-levelly opening up, new quality productive forces. You've seen China focusing in technology, and where will the world be focusing in the next five to ten years? Technology will solve many problems," said Jack Perry, chairman of 48 Group Club.

"China reached an economic growth of 5 percent, which is impressive, especially compared with the European countries, because many of them hope to see the growth like this. For China, we are a reliable partner. We not only provide the world with products, but also advanced technologies and we are also expanding our market in China. The Chinese government has been encouraging bilateral trade, which is very important to Europe. I think, the path of China's development will help shape the future. We will make changes to the global economy, involve the Global South, and promote the prosperity of the humanity," said Bernd Einmeier, chairman of the German-Chinese Society for Economy, Education and Culture.

"It's been proven that when the Chinese economy is thriving, most African economies also thriving. We can look at the aspect of various economic and infrastructure developments that have taken place in the past," said Esther Banda, a Zambian economist.

"Africa will remain important to China, and I think South Africa must keep the channels between South Africa and China open because that (China) is an economy that will continue to grow very, very strongly. And it's very important for South Africa and for the world economy," said Dawid Roodt, a South African economist.

Film IP fuels expansion of consumer market

China's movie industry is increasingly deriving its earnings from broader consumer economy.

Released during the 2025 summer season, the film "Nobody" became China's highest-grossing two-dimensional animated film -- and its success went beyond theaters.

Through licensing and brand partnerships, the movie has generated 2.5 billion yuan (about 358.3 million U.S. dollars) in retail sales to consumers, with more than 800 licensed products on the market.

Ranging from plush toys to food and home goods, the movie-related merchandise can be purchased from over 3,000 online and offline outlets.

Meanwhile, souvenir stores are crowded at Shanghai Disneyland's Zootopia themed land, with hats, plush toys, and collectibles seeing steady demand from visitors.

"China's film industry is no longer defined by box office revenue alone. It has become a new growth engine that links and energizes multiple cultural sectors. At the heart of every successful film is strong storytelling. High-quality productions create cultural value, which in turn enhances the commercial value of intellectual property and opens up new consumption opportunities. I believe China's film industry delivered an outstanding performance in the past year," said Chen Xiaoda, vice dean of Shanghai Vancouver Film School.