China’s Growth against Odds Raises World’s Hopes

July 10, 2023•2 minute read

Visitors interact with each other during the 14th Annual Meeting of the New Champions, also known as the Summer Davos Forum, in Tianjin on June 27. SUN FANYUE/XINHUA

Experts expect much more on the policy front to secure future of firms, economy

Confidence in China’s economic growth remains strong among officials, economists and global entrepreneurs, as the world’s second-largest economy is well on track for a steady and gradual recovery despite headwinds.

They said they are optimistic about China’s capability to achieve its preset annual growth target of around 5 percent this year as well as sustainable and high-quality development in the long run. China, they said, will be a key growth engine for the rest of the world.

“While we see some financial challenges globally, which will no doubt affect all economies, the reality is we still see positive growth for our business in China,” said Bruce Cameron, chairman of Zespri, a cooperative of kiwi fruit growers in New Zealand.

“When I look at the future opportunities that we have, we remain confident that we can continue to grow as we seek to expand to more provinces and more cities and penetrate deeper into those markets,” Cameron told China Daily on the sidelines of the 14th Annual Meeting of the New Champions, also known as the Summer Davos Forum, which concluded on June 29 in Tianjin.

Given that “the Chinese economy will continue to be resilient”, Zespri will continue to invest in the China market to further cater to local consumers’ need for better products, he said.

“We see China as a very long-term global market. We have no intentions of backtracking or leaving China. We are embedded here. We believe that our company and our presence here take us forward over the foreseeable future with strong growth.”

He also said China’s economic growth rate is still “very impressive “compared to that of the rest of the world. The Chinese economy, he said, has the ability to continue to have a strong presence globally.