SENDKing Viewpoint | “Intelligence+”, a Boost for the High-quality Development of Chinese Economy
The global economic situation is complex and grim currently. As the world’s second largest economy, the trend of Chinese economy inevitably comes under the global spotlight. High-level economic forums and expos were held successively around the country recently. Without a doubt, they are an important window to observe China’s economic trends.
From China Development Forum to China Macroeconomic Forum, from the 6th World Internet Conference to PT Expo China, from the 85th International Forum on China’s Reform to the 3rd China Enterprise Reform and Development Forum, and from the World Laureates Forum to the 2nd China International Import Expo (CIIE) which has exceeded the 1st CIIE in both size and quality … the convening of these large economic forums and expos has continued to release a series of positive information, highlighting the vigorous development trend of Chinese economy: more innovation in science and technology, greater efforts in promoting reform and opening up, and harder work to improve the business environment and attract more investment
Despite the Global Economic Downturn, China Remains Upbeat about Its Economic Growth
China absolutely has confidence in its economic growth. First of all, it’s well known that the growth rate of Chinese economy currently ranks first among major economies across the world. Moreover, the supply-side structural reform continues to advance. Being driven by demand, the coordination of economic development has increased obviously. The pace of industrial upgrading has picked up steadily. The driving force behind innovation has been strengthened further.
Potential and creativity are definitely something vital to the development of China’s economy. Giving full play to the enthusiasm of local governments and enterprises may bring about a lot of creativity. Looking ahead, it is impossible for the country to weaken its confidence in economic growth. In the past two years, the country successfully maintained the economic growth rate of more than 6%. It will most probably still lead the world in economic increment after 2020.
As a matter of fact, China’s confidence is not only based on its huge domestic market and its economic resilience and potential, but also the continuous efforts it has made in economic restructuring. At present, the world economy is under the downward pressure and the anti-globalization sentiments surge from time to time. Under the circumstances, China’s economy still sticks to its strategic policy. Although the economic growth has slowed down slightly, its short-term fluctuations will not change the positive and upbeat trend. With the clear goal of high-quality economic development, China will continue to move forward rapidly, resolutely and steadily.
Fostering new growth drivers to replace old ones and facilitating the high-quality development have become the common objectives of both local governments and enterprises in China.
A Rosy Future for the World Is Already on the Way
5G, artificial intelligence (AI), industrial Internet of Things (IIoT)… the pace of technological innovation in China still continues to accelerate. With the theme of “integrating 5G, for a smart and connected world”, the PT Expo China 2019 was held as scheduled. At the Expo, the three telecom giants in the country announced to officially launch the 5G commercial packages, and the latest developments of the identification and resolution system of industrial Internet was made public.
In the context of high-quality development, technological progress and innovative driver are the key to improving the quality and efficiency of China’s economy. The new economy, new industries and new forms of business will constitute the major engines of China’s economic growth. The country is working hard to transform scientific and technological innovations into new driving forces of economic growth, make breakthroughs in such key fields as the “5G+ sectors”, and realize the upgrade of supply-side structure and high-quality development of economic development.
China is becoming a global innovation center step by step, with more and more scientific and technological talents and innovative fruits emerging. Furthermore, the country, following the open and innovative concept, is willing to communicate and cooperate with the scientific and technological workers from across the world so as to jointly promote the continuous progress and innovation in science and technology.
China, a More Open Economy, Will Make the World Economy More Dynamic
As an emerging open economy in the midst of economic transformation, China is striving for high-quality economic development through opening up in an all-round manner in a bid to inject new vitality into the world economy.
China will double efforts to build a multi-directional opening-up pattern from various fields and focus on opening up and innovation to make breakthroughs in high quality development. The construction of Hainan Free Trade Port, which has attracted extensive attention, is in full swing now, in an effort to well implement various reform measures, deepen the cooperation with the countries and regions around the world, especially those along the Belt and Road routes and strive to create a new highland for opening up.
For further development, China cannot just focus on itself, but turn to the world for common progress. A year ago, the country organized China International Import Expo (CIIE) themed import, the first of its kind in the world. Before long, the 2nd CIIE arrived as planned. Undoubtedly, the 2nd CIIE exceeded the 1st CIIE in both size and quality. More than 3,000 participants from over 150 countries and regions will show up. Moreover, more new products, new technologies and new services will make their world debut at the 2nd CIIE and be launched to the market. It is expected that the number of buyers and professional visitors at home and abroad exceeds 500,000.
The CIIE is actually an important action taken by Chinese Government to expand imports and open the Chinese market to those high-quality goods and services around the world. It also demonstrates the country’s determination and sincerity to continuously open wider to the outside world. China is willing to share the achievements in development with the rest of the world through trade and investment. The exhibition area of the 2nd CIIE was expanded twice, but the booth there is still very hot, which also shows the great confidence of international suppliers in the Chinese market.
A series of opening-up measures will effectively boost the improvement of China’s development in both quality and efficiency. In China, a major emerging economy opening to the outside world, the rapid economic growth in the past four decades is actually a result of its opening-up efforts. In the future, to realize the high-quality economic growth, the country will surely need to work harder to open wider to the rest of the world. In this way, more breakthroughs in opening up and innovation should be done to propel the process of high-quality development, form the advantages in high-quality development, and release the huge potential of domestic demand in the course of economic transformation and upgrading.
In the past 70 years since its founding, China has adhered to the people-centered principle, with clear development goals. Along with the introduction and implementation of the “Belt and Road” Initiative, the country has received high attention from more and more countries and international organizations. In this process, the country’s economy has continued to expand, its size and quality have continued to be improved, and its systems and mechanisms have also become increasingly perfect.
Enterprises are the cells of the economy and at the same time, they are also the innovators and source of motive forces. If enterprises are full of vitality, the economy will surely be dynamic. Likewise, if enterprises are healthy and strong, the economy will be naturally healthy and strong. At present, China’s economy is at a critical stage of shifting from high-speed growth to high-quality development. A growing number of Chinese enterprises are becoming closer to those world-class ones. Economic restructuring and innovation will continue to be a boost for China’s economic development.
Private enterprises in the country are so vibrant. Some of them have gained a foothold in the overseas market. SendKing, like a rising star, sticks to the integration of industry and finance and works hard to make its presence in the international market. Focusing on equity investment, it strives to build a bridge between social capital and entity enterprises, lower the financing threshold and cost, guide social capital to have access to the projects of real economy in a more effective manner, facilitate the high-quality economic development, and promote the improvement of social capital market.
The Curriculum Vitae of Director of the International Finance Department
Florian Chen, born in Zhuzhou, Hunan Province in February 1982, graduated from Blaise Pascal University in France with a master's degree in management, currently working at Hunan Send King Financial Service Co., Ltd. (“SEND KING” for short) as the director of International Finance Department.