A recently released report from Beijing sheds light on how China’s comprehensive modernization efforts have propelled global economic growth. The report was published jointly by think tanks under the Institute of Party History and Literature of the Communist Party of China Central Committee and Xinhua News Agency. According to the findings, China’s reform initiatives have significantly contributed to both its domestic development and the global economy.
The country’s steady economic progress and improved governance have positioned it as a major force behind the success. The report also specifically highlights China’s role in reducing global inflation through its technology-driven exports.
The report highlighted China’s steady economic and social progress, enhanced governance, and global contributions since 2012. From 2013 to 2021, China’s share of global economic growth has consistently surpassed the combined efforts of the G7 nations. China’s role in the ongoing industrial revolution is also emphasized in the report, which notes the country’s rise in the Global Innovation Index. Additionally, initiatives such as the Belt and Road and the Asian Infrastructure Investment Bank are helping to amplify the emerging economies.