The Chinese government has gained trust of the majority public, and its macroeconomic governance is injecting momentum to global development, according to a report by an international research institute.
The 2017 Edelman Trust Barometer found that more than half of respondents believed that the system in such countries as the United States, France, Italy, Britain, Australia and Mexico is failing.
Meanwhile, Chinese people's confidence in their government comes from the government's theories and practice on macroeconomic governance.
DIALECTICAL THINKING ON DEVELOPMENT
Dialectical thinking is an important method applied by the Chinese leadership. Guided by the method, China has initiated five development concepts -- innovation, coordination, green, opening up and sharing -- outlined in China's 13th Five-Year Plan (2016-2020), and in the meantime, actively promoted supply-side reform.
For example, on the cut of industrial productivity, the Chinese government has recognized the relationship between the government and market.
In an article posted on its Chinese website, Financial Times reported the successful supply-side structural reform experienced by a district of the southern Chinese city of Foshan.
The market mechanism had played a leading role in the supply-side reform of the district, while the local government had played a role in serving the market and making up market inefficiency in its reform process, said the article.
International observers said the five development concepts and other theories and practice on governance are all featured with dialectical thinking.
It is believed that the proper handling of the relationship between the part and the whole, the present and the future and the priorities and non-priorities helps China gain benefits and avoid risks.
BOTTOM LINE OF FINANCIAL RISK PREVENTION
On Feb. 3, China's central bank raised the bid interest rates for reverse repurchase agreements and the interest rates on standing lending facilities, a liquidity support tool.
Before China's Spring Festival holiday, the bank already increased the rates of medium-term lending facilities by 10 basis points, the first rise since the liquidity tool was introduced in 2014.
The continuous hike of interest rates has sparked positive response from the market.
"The world's second-largest economy pushes through painful reforms to address a rapid build-up in debt, and erects a 'firewall' against financial risks," Reuters said.
The Chinese leadership has emphasized for several times the necessity to uphold the bottom line of preventing systematic financial risks. A newly released report by the central bank also mentioned "risks" and "bubble" frequently, a signal of higher alert for financial risks in 2017.
Meanwhile, China has also made efforts to secure the bottom line of improving the people's livelihood.
Jinggangshan, the heartland of the early revolutionary activities of the Communist Party of China in east China's Jiangxi Province, announced on Feb. 26 that it had been officially taken from the list of impoverished areas.
China has spared no efforts in combating poverty. From 2013 to 2016, the number of the rural population living in poverty has decreased by 10 million per year.
In a report, Russia's RIA Novosti noted that China has broken the record in poverty reduction.
OPEN MIND FOR COMMON PROSPERITY
At the beginning of this year, an electrified passenger train made by China left the Djiboutian capital Djibouti for the Ethiopian capital Addis Ababa, marking a step further in the operation of Africa's first electrified cross-border railway.
Ethiopian Prime Minister Hailemariam Desalegn hailed the railway built and equipped by Chinese enterprises as a pride of the two countries, whose social and economic landscapes he said will be altered thanks to the railway.
According to the Japanese monthly magazine Sentaku, the miraculous economic growth Africa has registered is closely related to China, as the China-proposed Belt and Road Initiative, aimed at creating a trade and infrastructure network connecting Asia with Europe and Africa along ancient trade routes, has granted Eastern African countries the much-needed investment and technology for their infrastructure construction.
In return, the increasing domestic demand in these nations will provide China with more opportunities.
Given the unprecedented inter-dependence of different economies, China has upheld an open mind and promoted the common prosperity of all nations, despite the tendency of anti-globalization, protectionism and populism.
Observers say only by upholding an open mind and aspiring for common development, can the sluggish world economy recover and China's macroeconomic governance is injecting new impetus into the global economic development amid uncertainties.
