China will continue steady growth in 2020 and beyond

China, a country with a population of 1.4 billion, a substantial domestic market, an abundance of raw materials and land, full of qualified human resources, can strive under any circumstances.

China has witnessed an average GDP growth of 10 percent for the last four decades. The miraculous developments made by China are the result of reforms introduced by the visionary leadership of the Chinese Communist Party and the continuation of policies, further opening up, and flexibility of policies.

Since China surpassed the Japanese economy in 2010, the country entered into the global spotlight. The US and EU began to see China as a threat. Especially in the last couple of years, anti-China sentiment has become more visible. The China-US trade war, instigation of unrest in Hong Kong, human rights issues, and Huawei; all are measures to contain China.

Despite all challenges, the Chinese economy has grown steadily, achieving GDP growth of 6.6 percent last year. It expects similar growth in the coming years.

China will stick to its policy of further opening-up to the rest of the world and pursue its current policy of globalization and trade liberalization to a higher degree. China will focus more on domestic issues like good governance, justice and legal systems, citizen welfare, and better fiscal policies for its domestic market.

China is a mature country and understands its global responsibilities. China will maintain its contribution to the global economy, trade, peace, stability, and prosperity. As of the end of October 2019, China had signed 197 Belt and Road Cooperation Agreements with 137 countries and 30 international organizations. Based on the benefits of BRI, it is expected that many new countries will join BRI in the coming year.

In 2020 and beyond, the Chinese agenda for globalization, multilateralism, and harmonization of culture and civilization, a community of shared future for humankind, will be even more vigorous.