Signed article on issues of Chinese economy and the Second CIIE by H.E. Dr. Xiao Jianguo, Chinese ambassador to Timor-Leste, published on Timor Post
On 15th November 2019, Timor Post carried an article on issues of the current Chinese economy and the Second China International Import Expo by Ambassador Dr. Xiao Jianguo entitled "High-quality Development of China's Economy in 2019 Conducive to Progress in China Timor-Leste Economic and Trade Cooperation". The full text is as follows:
The Second China International Import Expo (CIIE) was held in Shanghai between 5th and 10th of November. H.E. Mr. Emmanuel Macron, the President of France, H.E. Mr. Andrew Holness Prime Minister of Jamaica, H.E. Roberto Azevêdo, Director-General of the World Trade Organization etc. attended the event. H.E. Mr. Xi Jinping President of PRC delivered a keynote speech in the Opening Ceremony and called for three proposals in building an open world economy and five measures for the opening-up of China at an even higher level. "The Chinese market is such a big one that you should all come and see what it has to offer", President Xi invited. The speech aroused wide concerns and comments of the international community. Representatives from 181 countries, regions and international organizations attended the second CIIE, 2160 tentative deals worth $71.13 billion was reached, rising 23% from that of last year, which is a big success. It reflects the full confidence of the international community in China's development now and future, which shows the brilliant prospect of China's economic development.
China has a population of 1.4 billion, among which 400 million belongs to the middle-income group. The huge Chinese market points to a potential that is simply unlimited. The steady economic development of China and this long term trajectory remain unchanged and will not change. In fact, China's economy maintained a stance of progress while maintaining overall stability in the first three quarters, given the complicated and challenging domestic and international environment of a kind rarely seen in many years and new downward pressure on economy. The highlights are as follows: 1. The economy has been advanced steadily. In the first nine months, the GDP grew within a proper range. Economic structure was optimized and upgraded. Employment and consumer prices were generally stable, and a basic equilibrium in the balance of payments was maintained. Personal incomes and social security are improving steadily. 2. The business environment is continuously improved. Doing Business Report 2020 ranked China 31st, up by 15 places from last year's ranking of 46th. 3. The potential of domestic market demand is increasingly unlocked. In the first nine months, the total retail sales of consumer goods rose by 8.2%, and the domestic consumption contributed 80.3% of the economic growth. The week-long national holiday in this October saw an increase of 8.5% in the combined sales of the retail and catering industries and 8.5% in tourism spending. 4. New growth drivers are continuously strengthened. In the first nine months, the added value of high-tech manufacturing rose by 8.7%, 3.1% higher than that of the industrial enterprises above the designated size. Invest in high-tech manufacturing and its technological upgrading grew by 12.6% and 8.9% respectively. 5. Opening up expands new space for development. In the first three quarters, our imports and exports to the ASEAN, EU, and countries along the Belt and Road rose by 11.5%, 8.6% and 9.5% respectively, well above the overall national trade growth. In the first nine months, the amount of paid-in foreign investment in China grew by 6.5%, bucking the trend of shrinking cross border capital flows worldwide.