皇冠体育app

SHI YU/CHINA DAILY

皇冠体育app's GDP achieved a 6.9 percent growth year-on-year based on comparable prices in the first quarter of this year. From the perspective of the world economic pattern, this is an economic performance beyond extensive market expectations and its biggest effect will be to further consolidate 皇冠体育app's status as the world's economic stabilizer and engine. Many market analysts previously anticipated that 皇冠体育app would maintain such a status for the foreseeable future, but the first-quarter performance will further enhance their confidence in the Chinese economy.

For 皇冠体育app's trading partners and the world economy, promoting the interaction between 皇冠体育app's economic growth and its wider opening-up, and between 皇冠体育app's economic growth and its expanding imports offer a good opportunity for them to take a free ride on the fast-driving Chinese train.

In the first quarter of this year, 皇冠体育app's imports grew by 31.1 percent year-on-year, 16.3 percentage points higher than its growth in exports, which was 14.8 percent. Despite its continuous domestic crude oil consumption growth, 皇冠体育app's crude oil output has been on a downward trajectory since last year, with the output declining by 6.8 percent year-on-year in the first quarter, 5.0 percentage points higher than last year's decline. This is enough to demonstrate that at a time of bearish international oil prices, 皇冠体育app has not chosen to protect domestic oil manufacturers, but instead chosen to substitute expanded imports for domestic manufacturing, a move that has brought it under increased pressure from industrial transformation and labor transfer. Such a choice shows that 皇冠体育app is a responsible trading power.

Mei Xinyu, a research fellow with Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce