Global business
leaders and analysts have expressed confidence in China's economic development
as the country enters a new era characterized by the pursuit of higher-quality
growth.
General Secretary Xi Jinping, in a report he
delivered at the opening session of the 19th National Congress of the Communist
Party of China two weeks ago, said China's economy has been transitioning from
a phase of rapid growth to a stage of high-quality development, which he said
is pivotal for transforming the country's growth model.
John L. Thornton, chairman of the board at The
Brookings Institution, a US-based think tank, said that China's pursuit of
higher-quality growth in the new era is good not only for China but also for
the world.
"China was going very fast, and the
emphasis was on the rate of growth. In the new era, China will grow more
slowly, but the emphasis would be on the quality of growth," Thornton
said, adding that this is a good sign of economic maturity.
Mike McNamara, CEO of Flex, a US-based
technological manufacturer, said that China promotes the role of innovation in
economic growth, which will help to further drive the nation's development.
"China has developed rapidly over the
years, but over the next five years, we would expect it to develop even more
rapidly on the back of more and more innovation," he said.
"We expect China to change from a
manufacturing engine to more of a technology innovation engine. One of the
things that I would expect of China is there would be more leadership in terms
of ideas, products, services and technologies that originate in China,"
McNamara added.
The report delivered by Xi said that China
will be built into "a country of innovators".
"Innovation is the primary force driving
development; it is the strategic underpinning for building a modernized
economy," the report said, providing a blueprint for development.
Christopher Galvin, chairman of Harrison
Street Real Estate Capital in the United States, said, "China is leading
in a whole variety of digital technologies... and it's the one country in the
world that has significant opportunities for business."
Source:
Chinadaily.com.cn
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