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Xi Expressed Confidence in Chinese Economy at G20 Summit

China is confident and able to maintain medium-high economic growth, Chinese President Xi Jinping remarked at the Session One of the tenth G20 summit in Antalya, Turkey on Sunday.

President Xi said that, as the main contributor, China has boosted the world economic growth during the global economy’s most difficult time and contributed 50% of the world economic growth from 2009 to 2011. Though the Chinese economic growth has slowed down currently, it still contributes over 30% of the world economic growth.

We have confidence in the Chinese economic development, said President Xi, adding that the confidence comes out from our determination to deepen economic reforms and to build more an open economy. It also comes out from the domestic impetus of Chinese economy and the effective policy guidance of the Chinese government.

The Chinese economy is expected to achieve an increase of 7% in 2015, which will account for nearly one-third of the world economic growth, Xi said.

With the 13th Five-Year Plan, China is determined to accomplish the goal of building a moderately prosperous society in all respects and double its 2010 GDP and per capita income by 2020.

In the next five years, China will practice an innovation-driven development strategy based on the ideas of green development, cooperative development, open development and inclusive development. China will advance its industrialization, urbanization and modernization of agricultural development at the coordinated paces. It will committed to environmental improvement and insist a way of environment-friendly development. By implementing the “One Belt One Road” initiative, China will gain more incentives to grow its economy and create more opportunities for the world economic development, said President Xi Jinping.