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Chinese Ambassador Xie Feng

Chinese Ambassador Xie Feng Highlights New Economic Concept in Interview

Washington, April 07, 2024, The Europe Today: Chinese Ambassador to the United States, Xie Feng, recently discussed China’s new economic concept, emphasizing its potential to drive high-quality growth domestically and contribute to global sustainable development in an interview with a U.S. news outlet.

Ambassador Xie described the concept of “new quality productive forces” as being innovation-led and reform-driven, aiming to boost total factor productivity and advance high-quality development in China. He highlighted the role of these forces in expanding domestic demand, stimulating market vitality, and fostering growth across traditional and emerging industries.

“As China endeavors to enhance domestic demand, new quality productive forces will unleash the potential of China’s large-scale market, fueling growth through industry upgrades and new economic opportunities,” Ambassador Xie explained.

A key component of this strategy is high-standard opening-up, which Ambassador Xie emphasized as essential for China’s sustained development and beneficial for global economic prosperity. He underscored the role of China’s expanding market as a foundation for growth and a platform for international cooperation.

“With the rapid development of new quality productive forces and the implementation of favorable policies, investors from the United States and other nations are actively engaging to capitalize on unprecedented opportunities in China,” Ambassador Xie noted.

In discussing opening-up, Ambassador Xie emphasized the importance of mutual cooperation, stressing that China is committed to global engagement and encouraging reciprocal openness from other nations.

Ambassador Xie urged global stakeholders to focus less on concerns about China’s growth peaking and more on seizing the opportunities it presents. He cautioned against the risks of decoupling efforts and geopolitical tensions, emphasizing the importance of maintaining global economic recovery and international peace.

“Rather than speculating on China’s economic trajectory, it’s vital to prioritize collaboration and shared prosperity. Geopolitical conflicts and economic decoupling could jeopardize global stability,” Ambassador Xie concluded.

The interview with Ambassador Xie Feng provides insights into China’s economic strategy and its implications for international cooperation and sustainable development, underscoring China’s commitment to inclusive growth and global engagement.