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Continuous opening-up key to China's new GDP target

日期: 来源:全球化智库CCG收集编辑:Xu Xiaoxuan

A China-Europe freight train loaded with 1,300 tonnes of flour from Kazakhstan arrives at Xi'an International Port in Xi'an, northwest China's Shaanxi Province, Jan. 13, 2023. [Photo/Xinhua]


To achieve the economic growth target set for this year, China needs to maintain its reform and opening-up policies while investing more in rural areas and small cities, according to David Blair, vice-president and senior economist at the Center for China and Globalization (CCG), in an interview with China.org.cn.


China aims to achieve GDP growth of around 5% in 2023, one of the key objectives in the Government Work Report delivered at the first session of the 14th National People's Congress on March 5.


"China is now a much richer economy, and it's hard [for it] to grow as fast as 9% or 10%. So, I think 5% is probably a reasonable growth rate," said Blair, adding that China will see catch-up growth this year from missed opportunities caused by the COVID-19 pandemic.


Blair emphasized that "the key to achieving the 5% of growth is continuing with the reform and opening-up process," which aligns with the Government Work Report's emphasis on deepening reform and opening-up in all respects and expanding market access to provide greater business opportunities for foreign companies in China.


Blair also stressed investing more in rural areas and small cities, especially their business environments, highlighting their potential to generate a huge amount of new wealth.


In recent years, China has noticeably increased average incomes in rural areas and improved working and living conditions, thereby eliminating poverty, upgrading infrastructure, and boosting education resources.


Blair said that China has the strength to achieve this year's GDP target, partly thanks to its huge consumption demand.


"As Chinese consumers have gotten richer and are able to purchase a lot more, they're creating demand not only for Chinese producers but also for worldwide producers."


Before the pandemic, consumption had become the primary driver of China's economic growth. This year, priority will be given to the recovery and expansion of consumption, and efforts will be made to stabilize spending on big-ticket items and promote recovery of consumption in consumer services, according to the report.


Another key strength is China's improved infrastructure system, not just in populated coastal areas but throughout the country, which enables the establishment of various businesses, noted Blair. In 2022, China's investments in infrastructure rose by 9.4%.


While giving weight to economic growth, the Chinese government also pursues a greener and more efficient economy. High-quality development was once again highlighted in the report.


Blair pointed out that China needs to move up the value chain and produce higher value-added products to increase productivity and unlock the economy's potential.


Blair emphasized China's significant role as a major demand source, both domestically and internationally, with trading volumes between China and other countries, especially the Belt and Road partner countries, growing at an impressive rate. He added that smooth business exchanges with China are of critical significance.


From China Daily, 2023-3-10




CCG Books


● Published by Palgrave Macmillan Singapore

● Editors: Wang Huiyao, Miao Lu


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This book aims to help readers make sense of our changing world by sharing the views of global thought leaders on some of the most important issues of our time, from US-China relations and global governance to climate change and the COVID-19 pandemic.


The ten dialogues in this book were part of the “China and the World” series of online discussions hosted by the Center for China and Globalization (CCG). The series features CCG President Huiyao Wang in conversation with experts from a range of fields, from renowned scholars of international relations, economics, and history, to journalists, policymakers, and business leaders.




● Links:

https://link.springer.com/book/10.1007/978-981-19-3846-7



● Published by Springer 

● Authors: Wang Huiyao


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This book focuses on globalization and China’s evolving role in the world, offering unique perspectives on a number of developments during a tumultuous period that began with Donald Trump’s election and ended with the outbreak of the Covid-19 pandemic. This period saw the global landscape reshaped by China’s continued rise, intensifying great power competition, and a public health crisis that has changed how we live.


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● Links:

https://link.springer.com/book/10.1007/978-981-16-9253-6




● Published by Springer 

● Edited by Wang Huiyao and Miao Lu 


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China and the World in a Changing Context-Perspectives from Ambassadors to China is the latest volume in CCG’s “China and Globalization” series, which seeks to create a balanced global perspective by gathering the views of highly influential scholars, practitioners, and opinion leaders from around the world on issues of policy and governance.


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● Links:

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● Published by Springer 

● Edited by Wang Huiyao and Miao Lu 


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Released nearly two years after the outbreak of COVID-19, Transition and Opportunity brings together an array of CEOs and senior executives from leading multinationals, leaders of foreign trade associations and representatives of advocacy groups on the ground in China to share their views on the potential and risks China holds for business as the world economy recovers.


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● Links:

https://link.springer.com/book/10.1007/978-981-16-8603-0




● Published by Springer 

● Edited by Wang Huiyao and Alistair Michie 


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This book brings together leading international scholars and policy-makers to explore the challenges and dilemmas of globalization and governance in an era increasingly defined by economic crises, widespread populism, retreating internationalism, and a looming cold war between the United States and China. It provides the diversity of views on those widely concerned topics such as global governance, climate change, global health, migration, S&T revolution, financial market, and sustainable development.


● Links:

https://link.springer.com/book/10.1007/978-981-16-5391-9





● Published by Springer 

● Edited by Wang Huiyao, President and Miao Lu, Vice President, Center for China and Globalization(CCG), Beijing, China 


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The internationalization of Chinese enterprises is one of the most notable aspects of economic globalization in the 21st century. Despite the 2008 financial crisis and weak global outbound investment, under the “go global“ initiative, Chinese outbound investment has gone from strength to strength, while also diversifying in terms of investment modalities, destinations, and industries. However, growing anti-globalization sentiment in some countries has also created new challenges for Chinese firms expanding internationally.


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● Links:

https://www.springer.com/cn/book/9789811546457




● Published by Edward Elgar 

● Edited by Wang Huiyao, President and Miao Lu, Vice President, Center for China and Globalization(CCG), Beijing, China 


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An excellent guide for understanding the trends, challenges and opportunities facing China through globalization, this Handbook answers the pertinent questions regarding the globalization process and China’s influence on the world.

With contributions from leading experts and international researchers, each chapter covers key topics regarding China’s participation in globalization, including: China’s new role in global economic governance; outward direct investment; China’s soft power and the implications for foreign relations; global migration, diaspora and talent. An enriching range of case studies and extensive empirical research are used to explore the successes and failures of globalization in China, and to discuss the dilemmas facing decision makers in today’s globalized world. A major contribution to the field, this Handbook offers valuable insights to China’s often misunderstood globalization process.

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● Published by Springer

● Authors: Wang Huiyao, President and Miao Lu, Vice President, Center for China and Globalization(CCG), Beijing, China 

The first effort to address the gap regarding higher-end talent within the scholarly work on internal labor migration in China

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● Links:

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