Experts and political figures from various countries on Friday hailed the remarkable resilience of Chinese economy in the face of external challenges, saying China's economy continues to provide stable expectations and development prospects for the global economy.
Their comments came after the annual Central Economic Work Conference, which was held in Beijing from Wednesday to Thursday.
Chinese president Xi Jinping delivered an important speech at the conference, in which he reviewed the country's economic work in 2025, analyzed the current economic situation and arranged next year's economic work.
Mohammad Faisal, executive director of the Center of Reform on Economics (CORE) Indonesia, said Xi's remarks expressed China's confidence in its economic development and sent positive signals to the world, adding that China's focus on expanding domestic demand will provide more opportunities to other economies.
"Xi's remarks in my opinion express the positivity and also optimism about China's economy. This is I think also to send signals to the world that China is still strong and the transition, economic transition in China that is currently, you know, trying to shift from export-led investment to consumption-led growth, which is I think also important to not only for China but also for the world, because other countries like Indonesia, for example, which is also where China is also the largest trading partner for Indonesia, can also expect that China is also can be the place or can be the market for Indonesian products or other emerging countries' products," said Faisal.
Paul Zilungisele Tembe, founder and director of SELE Encounters at University of South Africa, hailed China's pursuit of new quality productive forces and the country's wisdom of governance.
"This is a new type of development, new type of productive forces. Now we have the 15th Five-Year Plan in place. China continues steadily to move away from export generated growth to domestic generated growth, but luckily for the governance of China, the government also respects the laws of the market. The government makes it a point that they are steering the economy to the direction that is ideal for China," said the expert.
Andreas Glunz, managing partner for international business at KPMG Germany, said the conference, which made plans for the opening year of China's next Five-Year Plan, emphasized many things that are relevant to China-Europe cooperation.
"The Five-Year Plan of China has a lot of topics that are also relevant in the European market. So that's specifically a concentration on technology, on high quality production, on sustainability, for example, also resilience. I always have faith in China and China's economy because Chinese businesses are so agile, are so innovative, are so forward-looking, are so pragmatic," said Glunz.
Robert Barwick, national chairman of the Australian Citizens Party, said he admires China's pragmatic approach, and hailed China's contribution to global economy.
"The higher the quality of development that China engages in to lift up its own living standards of its people, that again doesn't just benefit China, it creates opportunities for the rest of the world. What I admire about China in this whole economic sphere is that it doesn't leave its economic future up to chance. It makes things happen. I think China does the world an enormous favor because it brings certainty to the global economy, because it is an engine for global economic growth," he said.
Global figures hail high-quality development, resilience of Chinese economy
