Belgium (Brussels Morning Newspaper), China’s ambassador to Belgium says his country will “stay committed to opening up.”
In a speech, he voiced optimism about China’s economy despite accepting it faces “challenges in its economic development.”
Ambassador Cao Zhongming was speaking in Brussels at an event hosted by the Belgian-Chinese Chamber of Commerce (BCECC). It comes amid rising tensions globally, not least fueled by the continuing economic downturn.
He accepted that “As the world’s second-largest economy, China’s economic development has been closely followed by all countries.
“China’s economy has strong resilience and big potential, and enjoys unique strengths in factor endowment, industrial basis, domestic demand, and innovation capacity.”
He added, “The fundamentals sustaining China’s sound economic growth in the long run remain unchanged.”
In 2023, China’s economy grew by 5.2 percent year-on-year, continuing to be among the top major economies.
China, said the diplomat, remains an “important engine” for global growth, with a contribution of as high as 32 percent to the world economy.
Over the past five years, the return on foreign direct investment in China stands at 9.1 percent, “which is quite competitive globally.”
He went on, “Having said that, China is aware of the challenges in its economic development, and is taking effective measures to respond.
“China has the condition, capability, and confidence to achieve its short-term and mid-to-long-term development goals.”
In wide-ranging addressed he also said that, in 2024, “China will stay committed to opening, and will continue to create favorable conditions for other countries to share in China’s opportunities.”
He recalled that Chinese Premier Li Qiang underlined in Davos at the end of 2023 that China will open its door still wider to the world.”
The ambassador said, “China embraces investments from businesses of all countries with open arms, and will work tirelessly to foster a market-oriented, law-based, and world-class business environment.
“We will also hear the views of foreign businesses regularly and take active steps to address reasonable concerns. Choosing the Chinese market is not a risk, but an opportunity.”
