Naysayers understate nation's ability and space to boost economic growth

Some Western politicians, institutions and media recently joined hands to magnify short-term fluctuations in China's economy, playing up the "peaking" of the Chinese economy and "the end of the Chinese miracle". Such voices have appeared in the past, too, but the Chinese economy always managed to overcome the headwinds and it has sailed forward to become the world's second-largest economy.

The recovery of the world economy remains sluggish, and the economies of all countries are facing considerable challenges. China's economic recovery has experienced certain difficulties and challenges since the end of the COVID-19 pandemic, but China has never avoided talking about the problems. Instead, it has taken initiatives to address them. From the cumulative data of the first eight months, the main macro indicators of China's economy are still within a reasonable range, and its momentum of stability and improvement has been consolidated. Its dynamism for high-quality and sustained economic growth is becoming ever more evident.

Innovation endows China's economy with a driving force for sustained growth. In recent years, China's innovation and green development momentum has kept rising, making it a world leader in many important areas. Opening-up gives China's economy an endless vitality for sustained growth. At a time when economic globalization is encountering adverse currents, China has signed 21 free trade agreements with other countries and regions, deployed and built 21 pilot free trade zones and the Hainan Free Trade Port, and signed more than 200 documents on Belt and Road cooperation with 152 countries and 32 international organizations.

China-Europe freight trains have reached more than 200 cities in 25 European countries. The potential of its vast market is attracting more and more international investors to seek opportunities in China.

Reform has increased the resilience of China's economy to deal with risks. The Chinese government has continuously enriched and improved its policy toolbox, strengthening macro-control to maintain stable economic operation and addressing development problems by deepening reform, expanding opening-up and promoting innovation.

A China that continues to reform, open up and innovate will bring more opportunities to the world, and the country that continuously promotes high-quality development will continue to attract high-quality factor resources. Those who truly understand the history and logic of China's economic development will never underestimate its ability to steer the economy.

XINHUA NEWS AGENCY