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China’s ‘Win-Win’ Economic Outlook Presented to French Elite

April 17, 2016 (EIRNS)—An interesting presentation on China’s New Silk Road policy of international economic development was made to the French Institute of International Relations by Chinese State Councilor Yang Jiechi on April 14.

Speaking on "China’s Development and China-Europe Relations," Yang noted the obvious great interest in Europe in the Chinese economy now. "What is the real picture then?" he said.

"Let me share with you one latest figure released by China’s National Bureau of Statistics early this month. China’s PMI in the month of March rose above 50%, the departure point between expansion and contraction. And in recent months, investment in fixed assets has rebounded, the housing market has picked up, and the economy as a whole has regained its momentum of growth. The Chinese economy, however, still faces a downward [global] pressure. People with an objective and comprehensive perspective will see that as an anchor and a source of growth for the world economy, the Chinese economy will continue to inject positive energy to the global economic growth."

Yang presented important prospective figures.

"In the next five years, China will import goods worth over $10 trillion U.S. and make outbound investment of over $600 billion U.S. ... Inspired by the government’s call of ‘mass entrepreneurship and innovation,’ 12,000 new businesses get registered every day.... Fifty million new jobs will be added, ensuring adequate employment despite a moderated growth rate. This illustrates the immense room for growth in China’s infrastructure and services sectors."

While repeatedly citing joint nuclear power development with Europe, and stressing China’s newly developed third-generation reactor, Yang returned to the broader basis of China’s policy. "China advocates a new type of international relationship centered on win-win cooperation," he said,

"in which countries seek to advance common development through joint efforts. To that end, China has proposed a Silk Road Economic Belt and a 21st Century Maritime Silk Road. Under this initiative, we intend to promote international industrial capacity cooperation; deepen all-around, win-win cooperation with other countries in economy, trade, investment, industry and infrastructure; help the countries involved build capacity for self-development; and create more development opportunities for more countries. We have signed intergovernmental agreements for cooperation on the Belt and Road with over 30 countries, including some European countries."

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