China's steady economic growth adds certainty to global development(2)

 

ENHANCING INNOVATION CAPACITY

"A new round of technological revolution and industrial transformation is gathering pace, and science and technology are playing an even more significant role in boosting social productivity," said Xi while delivering a keynote speech via video at the APEC CEO Dialogues in 2020.

Thanks to Xi's deep insight into the changes in different stages of development, China has been firmly implementing its new development philosophy featuring innovative, coordinated, green, open and shared growth, and working to shift its growth model, contributing China's wisdom and strength to global economic transformation and development.

Located on a hill-surrounding steppe near the city of Zhanatas in the Zhambyl Region in southern Kazakhstan, a Chinese-built wind farm, the biggest one in Central Asia, stands as a living embodiment of how Chinese innovation has improved the lives of local people. The project has not only alleviated Kazakhstan's power shortage, but also increased local tax revenue.

From "made in China" to "created in China," the country is stepping up its pace toward the middle and high-end of industrial and value chains. In February, China's Hualong One, a domestically designed third-generation nuclear reactor, was confirmed adequate for use in Britain, which is of vital importance for the island country to make up for its energy shortage and shore up its economy.

Meanwhile, China is taking the lead in the field of integrating digital economy with the real economy. Relying on such new technologies as cloud computing, e-commerce and fintech, China is playing an active role in facilitating regional and global trade.

In Southeast Asia, the joint construction of "a digital Silk Road" keeps gaining fresh momentum as China and the Association of Southeast Asian Nations (ASEAN) have been expanding their cooperation in such emerging fields as smart city, 5G and big data.

According to ASEAN Secretary-General Lim Jock Hoi, with the thriving digital cooperation between China and ASEAN, the regional bloc's digital economy is projected to increase from 1.3 percent of its gross domestic product in 2015 to 8.5 percent in 2025.

China, a country striving to step up its innovation and pursue high-quality development, will for sure create more opportunities for cooperation and bring about more tangible benefits to others.