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ARCHIVE




SATURDAY, DECEMBER 21, 2024

Home>>


INTERVIEW: OECD EXPERT SAYS CHINA REMAINS LARGEST CONTRIBUTOR TO GLOBAL GROWTH

(Xinhua) 13:24, December 19, 2024

PARIS, Dec. 19 (Xinhua) -- China will remain the largest contributor to global
growth in the medium term, a senior expert of the Organization for Economic
Co-operation and Development (OECD) has said.

China's recently announced macroeconomic policies will have an impact and help
invigorate growth potential by continuously boosting consumption and investment,
Margit Molnar, head of the China Desk of the OECD Economics Department, told
Xinhua in a recent interview.

She believed that a series of key measures taken by China in the past few months
will help spur local infrastructure investment, and the continuing replacement
of old consumer goods with new ones will continue to promote consumption.

Since the beginning of this year, China has carried out measures to expand a
high-level opening-up and strengthen comprehensive reforms. In this regard,
Molnar said that China's further opening-up to foreign trade and capital, in
particular, will help improve the business environment and tap growth potential,
with a view to long-term sustainable growth.

She also mentioned that the removal of restrictions on foreign investment in
manufacturing is a welcome move, as foreign manufacturers will be able to enter
the Chinese market more smoothly, thereby enhancing competition and leading to
greater efficiency for industries.

Innovation alone cannot guarantee long-term growth, the expert said, therefore
it must be commercialized, and that entails stronger collaboration between
industries and the research sector.

A modern industrial system and robust innovation activities are equally crucial
for long-term growth, she said.

(Web editor: Zhang Kaiwei, Zhong Wenxing)



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