Serbian expert: China provides stable impetus for world economic growth

According to statistics released by the General Administration of Customs of China a few days ago, in the first five months of this year, the total value of my country’s trade goods imports and exports was 14.76 trillion yuan, a year-on-year increase of 28.2% and a year-on-year increase of 21.6%. From a single-month data point of view, as of May, imports and exports have been increasing for 12 consecutive months. The international community believes that China’s foreign trade has maintained a strong momentum and will continue to drive the recovery of the world economy. On June 7, China Southern Airlines flight CZ8054 departing from Milan, Italy landed at Haikou Meilan International Airport, and the Milan-Haikou cargo route was officially opened. Fashion products such as cosmetics, clothing, bags, etc. originating in Italy and Switzerland have been able to penetrate into a larger Chinese market. Ernst & Young recently released a report showing that thanks to the growth of China’s new car market, the sales of passenger vehicles in China by the three major German automakers, Volkswagen, BMW and Daimler, increased by 66% year-on-year in the first quarter of this year. For every 10 new cars sold by Volkswagen, BMW and Daimler, 4 out of every 10 new cars sold are handed over to Chinese customers. Peter Fuss, senior consulting partner at Ernst & Young, said that economic and trade cooperation with China has become an important pillar of economic recovery in many countries after the epidemic. As Germany’s most important trading partner, China’s strong domestic demand has benefited German companies significantly. According to data from the German Machinery Manufacturing Association, in the first quarter of this year, German exports to China in the field of machinery manufacturing were 4.9 billion euros, a year-on-year increase of 20.3%. China has become the largest export market for German machinery manufacturing. The latest data show that German exports to China in May increased by 47% year-on-year. Deutsche News Agency said: “Germany has benefited a lot from the continuous growth of China’s foreign trade.” “China is the world’s largest export trading country and the main force in international trade in goods. In the post-epidemic era, China is an important driving force for global economic growth.” Ivona, director of the “Belt and Road” Regional Research Center of the Serbian Institute of International Political Economy Rajvac said that the strong growth of China’s import and export trade is attributable to the correct policy guidance of the Chinese government, which has boosted the morale of the global economic recovery. It has not only stabilized the world market, but also laid the cornerstone for greater global cooperation in the future. Both the economic recovery and the fight against the epidemic have a positive impact. Bloomberg quoted Jonathan Kafner, a senior market strategist at Informa Global Markets, as saying that China’s import and export data is very healthy. “Global demand is still recovering. As major advanced economies open to the outside world, this trend is likely to continue from the end of the second quarter to the third quarter.” “China has successfully controlled the epidemic, continued to deepen reforms, stimulated domestic demand, and focused on innovation and high-tech product manufacturing. It has unique advantages in global economic cooperation.” Greek scholar and China expert Pera Karpathaki said, “China Speeding up the construction of a new development pattern, the integration and mutual promotion of the huge domestic demand market and the external market, will provide a stable impetus for world economic growth.”

Post time: Jun-18-2021