Int'l community speaks highly of China's efforts to promote high-quality economic growth

By:Xinhua
update:December 22,2017

GREAT EXPECTATIONS

"The 13th Five-Year Plan is the single most compelling five-year plan that China has ever made," said Joe Kaeser, president and CEO of Siemens AG.

According to Xi, the year 2018 is the first year in implementing the development blueprint outlined at the 19th National Congress of the Communist Party of China in October, and also a crucial year in carrying out the 13th Five-Year Plan (2016-2020).

"The Belt and Road Initiative is a huge opportunity for China and the world and much has already been accomplished," said Kaeser.

Proposed by China in 2013, the Belt and Road Initiative is aimed at building trade and infrastructure networks connecting Asia with Europe and Africa based on ancient land and maritime trade routes. It comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road.

"Siemens' supply chain is related to structural reforms that are taking place in China, which generate new opportunities in high-end manufacturing such as automotive, aerospace and artificial intelligence," Kaeser said.

"We predict that China's economy will grow more than 6 percent in 2018 and 2019. For an economy that is as large as China's, a 6-percent growth is still a very strong contribution to the world economy," said Stefan Kooths, director of Kiel Institute for the World Economy Forecasting Center.

Regarding government intervention, Kooths said the Chinese government has many more instruments to steer the economy.

"Given there are no risks of financial crisis, China still has a lot of room to grow into," he said.

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