China’s growth an example for world

BEIJING, March 13 (Xinhua) — China’s growth has benefited from innovation, people-centered ideology, stability, infrastructure upgrades and globalization, which can serve as an example for other economies, experts said.

“China’s economy has stabilized and showed more signs of warming, thanks to new growth policies, structural reform and policy innovations,” said Cai Jiming, professor with Tsinghua University.

“Its continuous innovations based on national conditions may be a reference for other developing economies, and developed economies as well,” Cai said.

China’s 6.7-percent growth in 2016 hit a 26-year low, but still outpaced most other economies and accounted for more than 30 percent of global growth.

China’s poverty relief campaign can be another example of the country’s success, according to experts.

“The poverty alleviation efforts showed that China’s development is people-centered, which is the essence of economic growth,” said Li Zhongjie, a member of the Chinese People’s Political Consultative Conference (CPPCC) National Committee.

China brought 12.4 million people in rural areas above the poverty line in 2016. However, there were still 43.35 million people living in poverty at the end of last year.

China has vowed to bring poor rural people all out of poverty by 2020.

The government will strengthen support for poverty relief, including fiscal, land, financial, education and health policies, while applying the highest assessment standards to evaluate the success of poverty relief.

China always values maintaining stability. This year, China will stick to the basic tone of “seeking progress while maintaining stability.”

Chinese policymakers will try to keep the economy, employment, society and growth expectations stable, while seeking progress in structural and systemic reforms, tapping new growth momentum and improving people’s livelihood, according to Yu Yongding, economist and former central bank adviser and also a CPPCC National Committee member.

The wisdom China has given the world includes how to deal with the relationship between “stability” and “progress,” Yu said.