People's Daily Publishes Article by "Zhong Caiwen": China Is a Positive Contributor and Powerful Stabilizing Anchor for Global Economic Growth

Since the beginning of this year, facing an external environment marked by intertwined changes and turbulence, as well as severe complexities, China's economy has advanced under pressure, continuing to develop towards new heights and improved quality. It has demonstrated vibrant vitality and strong resilience, not only laying a solid foundation for a good start to the "15th Five-Year Plan" period but also injecting strong momentum and valuable certainty into the world economy.

China is the main engine of the world economy, making significant contributions to promoting global development and prosperity. For many years, China's contribution rate to global economic growth has remained around 30%, rightfully earning it the title of the "primary engine." In the first half of this year, China's economy grew by 4.7%, meeting the full-year expected target and ranking among the top major economies, maintaining the distinction of having a uniquely favorable outlook. Domestic demand played a leading role, contributing more than 80% to economic growth, with consumption accounting for nearly 50%. The recently released "15th Five-Year Plan for Expanding Consumption" is the first national-level special plan in the consumption sector, indicating that China's consumption potential and space will be further unleashed in the future. In the first half of the year, the national Consumer Price Index (CPI) rose by 1% year-on-year. Prices recovered reasonably, aligning with macro-control requirements, which stands in sharp contrast to many countries where soaring global energy and raw material prices have led to high inflation and declining household purchasing power. China's economy exhibits distinct characteristics of a stable foundation, numerous advantages, strong resilience, and great potential. The supporting conditions and basic trends for long-term improvement have not changed, and it will remain the most powerful, stable, and reliable source of momentum for global economic growth in the future.

China is a stabilizing anchor for global industrial and supply chains, providing strong support for the smooth circulation of the world economy. Whether facing the impact of the COVID-19 pandemic or geopolitical conflicts, China has always been a firm defender of the resilience and stability of global industrial and supply chains. Since late February this year, conflicts involving the US, Israel, and Iran have hindered passage through the Strait of Hormuz, causing tensions in the supply of international crude oil and key raw materials. Due to the accelerated green transition of society and the economy in recent years, nearly 4 out of every 10 kilowatt-hours of electricity consumed nationwide in China are now green energy. The retail penetration rate of new energy vehicles (NEVs) in China continues to rise, reaching a cumulative 54.1% in the first half of the year. Relying on its strong advantages in new energy, China has actively responded by reducing crude oil imports, greatly alleviating the pressure of rising international oil prices. Meanwhile, China's industry has maintained efficient and stable production, offsetting supply gaps caused by production halts and logistical disruptions in certain regions. The Wall Street Journal stated that China has supported the world economy by reducing oil imports. France's Le Figaro argued that China has saved the world economy for the second time since the 2008 international financial crisis. By relying on technological innovation and sufficient market competition, China has built the world's largest and most complete new energy industrial and supply chain system. Over the past decade, it has driven the cumulative average levelized cost of electricity for global wind power and photovoltaic (PV) power down by more than 60% and 80%, respectively. China's advanced and applicable technologies in PV, wind power, and energy storage, along with high-quality products such as electric vehicles and electric motorcycles, have turned the energy transition dreams of many developing countries into reality. Distributed PV and microgrid projects implemented by Chinese enterprises in Sub-Saharan Africa have lit up the nights in Africa. Going forward, China will further guide the reasonable and orderly cross-border layout of industrial and supply chains, aligning with the industrialization visions of Global South countries, and helping more nations develop their economies, expand employment, and improve livelihoods.

China is one of the sources of global scientific and technological innovation, injecting powerful "new momentum" into world economic development. Innovation is an important endogenous driver of economic development. With its own innovation development concepts and successful practices, China is becoming one of the main arenas for large-scale global innovation. China's innovation strength has significantly enhanced. According to the World Intellectual Property Organization report, China's ranking in the Global Innovation Index rose from 34th in 2012 to 10th in 2025, and the number of top 100 global science and technology innovation clusters has ranked first globally for three consecutive years. Since the beginning of this year, China's innovation achievements have continued to attract global attention. The humanoid robot "Lightning" broke the human world record in a half-marathon; the semiconductor "Tao's Law" emerged; China's aerospace sector achieved successive major breakthroughs, including the dual-mode recovery of rockets at sea and on land; and the world's first open-source large model, Kimi K3, with nearly 3 trillion parameters, was impressively released. China's innovation achievements are accelerating their reach to the global stage. In the first half of this year, 8 out of every 10 humanoid and quadruped intelligent robots sold globally were made in China, and the total value of outbound licensing transactions for Chinese innovative drugs reached approximately $110 billion. An increasing number of foreign-invested enterprises state that China has grown into a "super training ground" for global technological innovation and a "hardcore gym" for competitiveness, suggesting that developing in China better hones innovation "muscles" and forges competitive "strength." China is increasingly becoming an enabler of global innovation. In July this year, the World Artificial Intelligence Cooperation Organization was officially established in Shanghai. This is a significant move by China to respond to the calls of the Global South and unite the international community to actively promote the development and governance of artificial intelligence. Foreign media comments pointed out that the "people-oriented, upward and benevolent" concept advocated by the Chinese side, along with the open-source nature of China's AI technology, better aligns with the trends of scientific and technological innovation and the needs of Global South countries, helping to bridge the global intelligence divide and promote equal benefits for all parties.

China is a practitioner of mutual benefit and win-win cooperation, creating broad space for cooperative development among countries worldwide. Regarding distortions and smears such as "China Shock 2.0" and the "China Squeeze Theory," facts are the best rebuttal. Chinese manufacturing enhances the well-being of people in various countries. As the world's largest manufacturing nation, China continuously provides high-quality, cost-effective, stable, and reliable product supplies to the globe. During the recent heatwave sweeping across Europe, Chinese air conditioners brought coolness to European residents, becoming highly sought-after items. Behind this "cool power" lies Chinese enterprises' keen insight into overseas market demands, the rapid response of the entire industrial chain, leading energy-saving and environmentally friendly technologies, and rapid delivery facilitated by the China-Europe Railway Express. The dividends of Chinese manufacturing benefit consumers and partners worldwide. The Chinese market provides new opportunities for global development. In today's world, the scarcest resource is the market. China's annual import scale exceeds 20 trillion yuan, making it the main export destination for nearly 80 countries. While some countries turn to protectionism, China consistently adheres to expanding openness, providing broad market space for global goods and services through measures such as lowering import tariffs, hosting the China International Import Expo (CIIE), and launching the "Export to China" series of activities. Starting May 1 this year, China fully implemented zero tariffs for 53 African countries with which it has diplomatic relations, marking another milestone in China-Africa economic and trade cooperation. Facts prove that the "Shock Theory" and "Squeeze Theory" are false propositions that misrepresent reality. China's high-quality economic development has brought new and greater opportunities to the world.

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