“The great stability of the Chinese economy is Evident,” Chinese Premier

By Reginald Chapfunga

China’s economy has been growing steadily, with a year-on-year GDP growth of 5.4% in the first quarter, according to Chinese Premier Li Qiang. Speaking at the ASEAN-China-GCC Economic Forum, Li Qiang attributed the growth to the country’s strong development momentum, resilient exports, and sustained expansion of new growth drivers.

“The Chinese economy is like an ocean, which can withstand fierce winds and heavy rains,” Li Qiang said. “Each storm weathered only deepens its resilience and makes it more open and inclusive.”

A Strong Foundation

Li Qiang highlighted the key drivers of China’s economic growth, including the industrial sector, exports, and high-tech manufacturing. “The added value of industrial enterprises above the designated size grew by 6.4% year-on-year; export increased by 7.5% compared with the same period last year; the added value of high-tech manufacturing and the investment in high-tech services went up by 9.8% and 11.3% year-on-year respectively,” he said.

Qiang also noted the rapid growth of new energy vehicles, with production and sales exceeding four million. “These figures speak for themselves,” Li Qiang said. “The great stability of the Chinese economy is evident.”

Confidence in the Future

Li Qiang expressed confidence in China’s ability to maintain steady and long-term development, citing the country’s unique strength as a major economy with domestic demand as the main driver. “We have the capability and confidence to maintain the steady and long-term development of the Chinese economy,” he said.

The Premier also emphasized the importance of proactive and effective macro policies in regulating economic aggregates. “We will continue to strengthen counter-cyclical adjustments in light of the changing circumstances,” he said.

A Global Impact

China’s steady growth has significant implications for the global economy. “A stable and growing Chinese economy can contribute to global economic stability, benefiting countries around the world,” Li Qiang said.

He said China’s strong economic fundamentals and commitment to high-quality development, China is poised to continue its growth trajectory, driving prosperity and stability in the region and beyond.

“The great stability of the Chinese economy is evident,” Chinese Premier