Expert says Chinese economy shows resilience, potential in development

China has been the largest "engine" driving world economic growth in the past decade, and will continue to play an important role in world economic growth as the world's second-largest economy, said a senior economist.

The growth trend of China's economy in the first three quarters of this year has demonstrated resilience and potential in development, said Liang Guoyong, a senior economist with the United Nations Conference on Trade and Development.

China's gross domestic product (GDP) grew 5.2 percent year on year in the first three quarters of 2023, according to data released by the National Bureau of Statistics (NBS).

Chinese tourists pose for photos while visiting the Giza Pyramids in Giza, Egypt, Oct. 4, 2023. (Xinhua/Ahmed Gomaa)

Among the world's major economies, China maintains a relatively high growth rate, Liang told Xinhua in a recent interview.

Since the second half of this year, China's macroeconomic policies have continued to exert force, with some issues of widespread concern to the market addressed and risks gradually resolved, Liang added.

According to data on trade in the first three quarters of this year, outbound tourism by Chinese residents increased significantly after the pandemic, pushing up China's service trade imports and promoting the economic growth of other countries, Liang stressed.

Liang said that China has been the largest "engine" driving world economic growth in the past decade, and will continue to play an important role in world economic growth as the world's second-largest economy.

He predicts that China's contribution to world economic growth will reach one-third this year.

Talking about the ongoing 6th China International Import Expo (CIIE) in Shanghai, Liang believes that the CIIE has established an international platform for international procurement, investment promotion and open cooperation, which contributes to expanding China's import procurement and providing new opportunities for companies from various countries.