President Xi Jinping Confirms China’s Confidence in Achieving Economic Growth Target

Beijing, The Gulf Observer: Chinese President Xi Jinping expressed full confidence in China’s ability to meet its economic growth target for the year, reaffirming the country’s pivotal role as the world’s largest engine of economic growth. Xi made the remarks during a meeting with heads of major international economic organizations in Beijing on Tuesday, ahead of the “1+10” dialogue.

The foreign dignitaries attending the meeting included President of the New Development Bank Dilma Rousseff, Managing Director of the International Monetary Fund Kristalina Georgieva, President of the World Bank Group Ajay Banga, and Director-General of the World Trade Organization Ngozi Okonjo-Iweala.

Xi briefed the guests on the outcomes of the third plenary session of the 20th Central Committee of the Communist Party of China, highlighting key measures adopted to promote the country’s economic development. He emphasized that after over four decades of rapid growth, the Chinese economy is now entering a phase of high-quality development, contributing approximately 30% of global economic growth.

The Chinese leader also underscored the country’s commitment to further opening up its economy to the outside world, aligning with high-standard international economic and trade rules, and fostering a market-oriented, law-based, and internationalized business environment. He stressed that China is dedicated to providing more opportunities for global partners and sharing the dividends of its development.

In response to concerns regarding the U.S.-China relationship, Xi reiterated China’s willingness to maintain dialogue, expand cooperation, and manage differences with the U.S. government. He expressed hope that both sides would work together to ensure that bilateral relations move in the direction of steady, healthy, and sustainable development. “Tariff wars, trade wars, and sci-tech wars go against the trend of history and the laws of economics, and there will be no winners,” he stated.

Xi also highlighted the progress of the Belt and Road Initiative (BRI) over the past decade, encouraging international economic organizations to continue actively participating in the initiative and contributing to the modernization of countries through peaceful development, mutually beneficial cooperation, and shared prosperity.

The foreign guests praised China’s remarkable achievements, particularly in poverty reduction and the fostering of new, quality productive forces. They lauded China’s people-centered development philosophy, which has proven successful and serves as an inspiration for the world.

They noted that China’s ongoing reforms, expansion of opening-up, and focus on high-quality development have created significant opportunities, especially for countries in the Global South. The BRI, along with China’s Global Development Initiative, Global Security Initiative, and Global Civilization Initiative, were cited as key platforms for promoting development and demonstrating China’s role as a responsible major power.

As global economic challenges persist and unilateralism and protectionism rise, the international community continues to look to China as a cornerstone of global economic stability and growth, the foreign dignitaries concluded.