日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Opinion
Home / Opinion / Global Views

Vital nucleus

Boosting and expanding domestic demand is the key for China to become a global trade hub

By CHEN WENLING | China Daily Global | Updated: 2021-09-29 06:57
Share
Share - WeChat
LI XIN/FOR CHINA DAILY

The secret behind China's foreign investment appeal is its large market that has expanded steadily. The Chinese government needs to further boost domestic demand and improve high-quality supplies through innovation.

In order to build a global trade hub in China and make it a global market with vitality and favorable business environment, efforts in the following fields are needed.

Domestic demand needs to be expanded to drive economic growth. Improved living conditions of the Chinese people have driven consumption upgrading. Besides the traditional consumption for basic necessities, new and advanced consumption can become new driving forces for expanding consumption. Public consumption also sees room for growth along with China's economic development. Efforts are needed to improve the quality of supplies for green, healthy and safe consumption, and encourage the development of new consumption models.

China's total retail sales of consumer goods reached nearly 40 trillion yuan ($6.18 trillion) in 2020. Its total social logistics exceeded 300 trillion yuan, and its global trade totaled 32.16 trillion yuan. Sales of the property market stood at 17.36 trillion yuan. While the total market capitalization of China's stock market has reached 80 trillion yuan. The emerging trade of data will also generate a greater market.

The government also needs to integrate resources to develop a global trade hub. China has become the world's largest trading nation in goods and is the largest trading partner of more than 120 countries. It has hosted the China Import and Export Fair (Canton Fair), the China International Import Expo and the China International Fair for Trade in Services.

With nearly 5,000 professional wholesale markets of commodities such as those in Yiwu, Zhejiang province, China has the potential to become a global purchase trade hub. Efforts are needed to make China a trade power by 2035 and turn it into a global trade hub of imports, exports and re-exports with strong modern logistics by 2050. China will see the growth of its imports exceed $10 trillion in the next five years, and it should aim to become a global trade hub in the next 15 years.

Efforts are also needed to build China into one of the world's major financial hubs. With the internationalization and improving credibility of the renminbi, its share in global reserve currency holdings and international trade and settlement has increased greatly, which will make it one of the world's major currencies. The share of the renminbi in international trade and settlement will exceed 20 percent by 2035 and reach 30 percent by 2050. The number of offshore renminbi trade centers will increase from 13 at present to 50. The proportion of energy futures of the Shanghai International Energy Exchange will increase from 12 percent currently to about 20 percent in 2025, reaching about 30 percent in 2035 and 40 to 50 percent in 2050.

According to international organizations, Hong Kong has the most favorable business environment in China. It ranks among the world's top five for its business environment. As the plan of building the Guangdong-Hong Kong-Macao Greater Bay Area has been initiated, Hong Kong will be able to play its role in the region with the introduction of the national security law that can ensure stability. The Greater Bay Area can provide references for other regions on improving business environment.

The number of market entities in China has reached 140 million. Data from the China Academy of Information and Communications Technology showed that the scale of China's digital economy totaled 39.2 trillion yuan in 2020, accounting for 38.6 percent of its GDP. The growth rate of the digital economy reached more than three times of the GDP growth rate, making the sector a key driving force for economic growth. According to the China Internet Network Information Center, the number of China's online medical service users reached 215 million in 2020, with a penetration rate of 21.7 percent. Last year, the penetration rate of mobile payment reached 94.7 percent. The transaction value of mobile payment totaled 266.2 trillion yuan, up 27 times from five years ago.

The government also needs to take the domestic market as the mainstay while driving domestic and foreign markets to complement each other. Domestically, efforts are needed to integrate production, distribution, circulation and consumption, and curb monopoly and local protectionism. To boost the two-way circulation, the authorities are supposed to build a smooth, efficient and low-cost modern logistics system, and build more Chinese cities into international consumption and tourism and leisure centers.

The author is chief economist of the China Center for International Economic Exchanges. The author contributed this article to China Watch, a think tank powered by China Daily. The views do not necessarily reflect those of China Daily.

Contact the editor at [email protected]

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 欧美亚洲视频在线观看 | 婷婷激情五月综合 | 欧美网站在线看 | 91短视频在线视频 | 中文字幕 国产精品 | 正在播放国产精品 | 美女超碰 | 九色网址 | 久草在线播放视频 | 久久99草| 国产精品视频网站 | 亚洲国产三级 | 久久久综合网 | 啪啪激情婷婷久久婷婷色五月 | 欧美激情精品久久久久久 | 亚洲精品一区二区三区不 | www.妞干网.com | 欧美成人久久一级c片免费 91在线免费视频 | 性高湖久久久久久久久aaaaa | 青娱乐视觉盛宴在线 | 性视频网站免费 | 国产一级免费视频 | 欧美福利一区二区三区 | 欧美电影在线观看网站 | 精品黑人一区二区三区 | 中文成人在线 | 国产精品福利视频免费观看 | 台湾一级毛片永久免费 | 天堂在线亚洲 | 久久草在线 | 九草伊人 | 日日骚视频| 操嫩草| 久久精品免费一区二区三 | 国产一卡二卡三卡 | 免费在线一区二区 | 日韩在线网址 | 亚洲一区二区三区免费观看 | 久久av一区二区三区 | 伊人狠狠干 | 日日骚|