Business / Economy

China's growth will benefit other countries

(Xinhua) Updated: 2015-06-18 16:07

RIO DE JANEIRO -- China's "new normal" will have positive influences over the rest of the world, and China's growth will spur growth in other countries, the head of a leading Chinese daily said here on Wednesday.

China's current lower growth rate, one of the features of China's "new normal", is a consequence of China's high growth rates registered over many years, said Yang Zhenwu, president of the People's Daily, at a workshop on China-Brazil relations.

Although China is growing at a slower pace, the volume of money generated is actually higher because China's gross domestic product (GDP) is much larger than it was decades ago, he told the workshop held at the headquarters of Fundacao Getulio Vargas, one of the most renowned college education institutions and a famous think tank for public policies in Brazil.

China will send 500 million tourists abroad over the next five years, is expected to purchase $10 trillion worth of goods from other nations, and invest $500 billion abroad, Yang said.

Yang also stressed that China has been carrying out reforms in various areas, such as environment, fiscal and economic systems, and governance, to make the country more efficient.

China has strong economic fundamentals, such as its savings rate which is among the highest in the world, and an increasing per capita income, he added.

Yang praised Brazil, which he is visiting for the first time, saying some aspects of the Brazilian culture, such as soccer and music, are well appreciated in China.

Brazil, as a strategic partner of China with increasingly close relations with China, is expected to benefit from China's growth, he said.

China and Brazil are co-members of many forums, such as BRICS and G20, and the two countries have also seen frequent exchanges of visits by their leaders, Yang said.

Brazil's tourist spots are favored by many Chinese citizens, and Chinese companies operating in Brazil generate various jobs in the country, Yang said.

Cooperation between China and Brazil, he said, will be good to both countries and the world, and the two countries should join hands in their pursuit of growth and development.

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