China's economic growth has achieved remarkable results under the guidance of Xi Jinping's economic thought, which targets the principal contradiction in Chinese society and aims to seek happiness for the people, said experts attending a seminar on the thought in Beijing on Wednesday.
China's economy maintained growth momentum and showed resilience in the first half of this year, with many leading financial institutions having revised up their full-year forecasts, signaling confidence in the country's economic trajectory.
Through reform and innovation guided by Xi Jinping's economic thought, China's economy has been prioritizing quality growth over quantity or rapid expansion.
"China's economic growth has achieved remarkable results on the basis of harmony between man and nature, coordinated regional development and common prosperity for the people. China's industrial competitiveness has significantly improved. It has shifted from being labor-intensive in the past to upgrading industries such as new energy vehicles, solar energy and integrated circuits, which are driven by technological innovation and led by high-tech and emerging industries," said Huang Hanquan, head of the Chinese Academy of Macroeconomic Research.
Experts said that Xi's economic thought has been enriched through trade, diplomacy and people-to-people exchanges, which has produced increasingly far-reaching influence.
"During their exchanges with China, many leaders and officials from developing countries have repeatedly emphasized that the joint promotion of the Belt and Road Initiative has helped them achieve connectivity. Some landmark projects have not only driven local economic growth and employment, but also provided effective solutions to poverty reduction and prosperity," said Wang Yun, deputy director of the research center on Xi Jinping's economic thought.
Xi's economic thought targets principal contradiction in society, seeks happiness for people: experts
