Stability is at the forefront. Counselor of the Embassy of the People's Republic of China on development in the face of the global threat of recession

Ruijuan Wang Counselor on trade and economic issues of the Embassy of the People's Republic of CHINA in the Republic of Belarus

The Chinese economy got off to a good start in the first quarter of this year. This point of view was expressed in an interview to a BelTA correspondent by Trade and Economic Affairs Adviser of the Embassy of the People's Republic of China in the Republic of Belarus, Mrs. Ruijuan Wang, who spoke about the main economic indicators, as well as the prospects for the development of Belarusian-Chinese cooperation.

- The international economic situation in the first quarter of this year has become even more complex and tense. What are the features of China's economic activity in this period?

- In 2023, the threat of a recession in the global economy is growing and a trend towards stagflation is emerging, combined with the influence of protectionist policies and geopolitical factors, which makes the environment for China's economic development more difficult, harsh and uncertain.

Faced with an unstable international environment and the daunting task of achieving domestic reform, development and stability, China prioritizes stability, seeks to make progress on stability, makes efforts to promote high-quality development, and stresses the importance of achieving stable growth, stable employment and stable prices.

I want to note that the transition of the covid-19 epidemic prevention and control phase has been completed quickly and steadily , the demand for products has stabilized and recovered, employment and prices in general remained stable, and residents' incomes continued to grow, market expectations improved significantly, and the economy took a turn. a really good start.

I want to touch on the main points of economic activity in our country. In the first quarter of this year, China's GDP was about $4.14 trillion, an increase of 4.5% year on year, up 1.6 percentage points from the fourth quarter of the previous year, and an increase of 2.2% compared to the last quarter of last year.

The basis for the development of the real sector of the economy has further strengthened. Thus, in agriculture, spring plowing and pre-sowing tillage are proceeding according to plan, and livestock production is growing. The value added of agriculture, forestry, livestock and fisheries increased by 3.8% year on year, while the production of MEAT from cattle , pigs, sheep and poultry increased by 2.5%, in the industrial sector by 3%. At the same time, there is good growth in the provision of services.

I would also like to draw attention to the overall stability of employment and prices. Thus, in the first quarter, about 3 million new jobs were created in cities, and the unemployment rate in March of this year, according to a survey in cities and towns of China's urban type, was 5.3%.

As for the policy of reforms and openness, it is moving forward. For example, the total volume of imports and exports of goods to the PRC increased by 4.8% year on year, and imports and exports of goods between China and countries located along the Belt and Road (Belarus is an active participant in this initiative) increased almost 17%. The volume of departed trains and the volume of goods sent on the China-Europe-China route increased by 15% and 28%, respectively.

By the way, given the performance of the Chinese economy, a number of international organizations have raised their forecasts for China's economic growth this year, and, according to the International Monetary Fund, China will account for more than a third of global economic growth in 2023.

- In your opinion, what are the prospects for China's economic development in 2023 and what measures will be focused on promoting socio-economic development?

- 2023 is the first year of the comprehensive implementation of the decisions of the XX National Congress of the Communist Party of China. The economy of our country as a whole demonstrates a positive trend of recovery and development. Key indicators have stabilized and recovered, business viability has increased, market expectations have improved significantly, and overall a good foundation has been laid for achieving expected development goals for the full year.

In the next phase, the Chinese government intends to take a series of measures to promote social and economic development. It is important to continue the implementation of some phased measures on the policy of tax incentives, strengthen business entities, implement a set of measures to stabilize foreign trade to help enterprises with orders, expand sales markets, including in developing countries. The Chinese government intends to further support advanced production and direct more resources there.

In addition, it is important to continue to work within the framework of the policy "agriculture, rural areas and farmers" (three rural issues) and to fully support the revitalization of rural areas.

Much attention will also be focused on improving employment policies and reducing the burden on college graduates from families with financial difficulties. In this regard, political and financial support will be strengthened for enterprises that employ a large number of graduates.

- 2023 marks the tenth anniversary of One Belt, One Road. How, in your opinion, will the trade and economic cooperation between China and Belarus develop within the framework of this initiative?

- Yes, indeed, this year marks the anniversary of this initiative. Belarus is an important country along the One Belt, One Road route and one of the first countries to respond to it. Over the past ten years, the integration of infrastructure facilities in China and Belarus has yielded good results. The movement of container trains along the China-Europe-China route has been effectively established, bilateral trade is reaching new records, key projects are being actively promoted, and financial and credit cooperation has also been secured.

China has become the second largest trade partner of Belarus. In turn, Belarus is an important trading partner of China in the Eurasian region and one of the fastest growing trading partners.

Trade and economic cooperation is an important cornerstone of China-Belarus relations, and trade volumes are growing rapidly.

I am sure that trade and economic cooperation between the two countries has good prospects and great potential. And the Chinese-Belarusian industrial park "Great Stone" is one of the most important achievements of economic cooperation between our two countries. The construction of the park began from scratch, steadily moving forward, he began to take shape, gradually improving the various facilities.

The industries of enterprises included in the park include machinery, e-commerce, new materials, traditional Chinese medicine, artificial intelligence , 5G network development and other fields, and their achievements are encouraging. In addition, e-commerce is becoming a new highlight of the Chinese-Belarusian trade and economic cooperation.

Last September, the Ministry of Commerce of the People's Republic of China and the Ministry of Economy of the Republic of Belarus signed a Memorandum of Understanding on cooperation in the field of e-commerce, agreeing to promote the prosperity of the market and the supply of high-quality specialized products through e-commerce. At present, the "Belarusian National Pavilion", which specializes in the sale of Belarusian goods, is gradually appearing on major e-commerce platforms in China, and the popularity of Belarusian agricultural products, especially meat and meat products, MILK and dairy products, continues to grow in China.

Of course, China has a vast market, and the mutually beneficial cooperation of the two countries in the field of e-commerce in the future will undoubtedly give new impetus to further expand the scale of trade between the two countries.

I am convinced that China and Belarus will continue to work together to maintain the qualitative development of trade and economic cooperation. And with a good political base and the efforts of enterprises on both sides, the existing trade and economic achievements will be consolidated. Undoubtedly, the expansion of mutually beneficial cooperation in various fields will continue to develop China-Belarus relations of all-weather and all-round strategic partnership.