Business / Economy

World confident China to deliver sustainable economic growth next year

(Xinhua) Updated: 2014-12-13 17:16

ISTANBUL - The world is confident that the Chinese economy will maintain a sound and sustainable growth in 2015, a senior Chinese official said here on Friday.

China's vice finance minister Zhu Guangyao made the remarks while talking to the Chinese media after the conclusion of the two-day Group of 20 (G20) Finance and Central Bank Deputies Meeting in Istanbul.

During the meeting, the delegates discussed issues regarding the world economy, investment and infrastructure, and factors that could promote a strong, sustainable, balanced growth.

China contributes 27.8 percent to the global economic growth in 2014, while the US' contribution stands at 15.3 percent, he said.

Beijing and Washington have been a major force to underpin the growth of the world economy, and therefore the international community is confident that China's economic growth will be healthy and sustainable, Zhu said.

He also told the reporters that the International Monetary Fund predicts that the Chinese economy will continue to grow in a sustainable manner, and its growth rate will be 7.1 percent in the coming year.

China will hold the presidency of the G20 summit in 2016. The Chinese official said China, together with Turkey and Australia, hosts of G20 summits in 2014 and 2015, form a "troika" mechanism.

The three countries are currently tasked with the mission to promote a strong, sustainable and balanced global economic growth worldwide, Zhu said.

He also said China, a responsible world power, will play a bigger and more active role in vigorously promoting reforms of the global economic governance with other countries.

Zhu said that, as a troika member, China will work even harder to ensure that the G20 mechanism can play a more important part in macro economic policy, financial regulation and global governance.

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