The Chinese mainland is gearing up for a new wave of economic growth, focusing on high-tech and green industries to navigate global challenges and sustain resilience.
At the third plenary session of the 20th Central Committee of the Communist Party of China (CPC), leaders outlined ambitious goals to deepen reforms and build a high-standard socialist market economy. The emphasis is on letting the market play a decisive role in resource allocation while ensuring the government fulfills its role optimally.
Recently, the Political Bureau of the Central Committee held a pivotal meeting to assess the current economic landscape and plan future strategies. Despite a slight slowdown with a 4.7% GDP growth rate in the second quarter, the demand from China's 1.4 billion population continues to climb.
Industries are undergoing significant digital, intelligent, and green transformations. Technological innovations in artificial intelligence, cloud computing, and biomedicine are sparking new economic drivers. For instance, in the first half of this year, the added value of high-tech manufacturing industries grew by 8.7% year-on-year, and investments in these sectors rose by 10.6%.
Amid a complex international environment and sluggish global economic momentum, China's import and export volume surged to 21.17 trillion yuan in the first half of the year, marking a historic milestone. This robust trade performance underscores China's strong economic fundamentals and vast market potential.
\"China's favorable conditions such as its economic fundamentals, large market, strong economic resilience, and vast potential, remain unchanged,\" the meeting confidently concluded. With these strategic moves, China aims to continue its path of sustainable and innovative growth.
