Experts: China’s development anchor of world economy

At a forum in Beijing titled the Mingde Strategic Dialogue 2026, experts gathered to discuss the vital role China's development plays in global economic growth. Former political leaders and scholars from around the world highlighted China's high-quality development, global growth, and economic governance.

Jennifer Shipley, a former prime minister of New Zealand, emphasized that China's contribution to global stability and prosperity has been crucial. She noted that without China's momentum, the global growth over the past 20 years would have been "somewhat miserable," and its growth has brought "material and measurable prosperity" to economies like hers.

Mulatu Teshome, a former president of Ethiopia, highlighted how China's high-quality development helps stabilize the global economy. He pointed to China's shift toward green technologies, advanced manufacturing, and modern services as offering new opportunities for partners. Teshome also noted that China's deepening integration, especially with the Global South, aids industrial sectors, raw material markets, and processed industries in countries from Africa to Latin America.

Huang Hanquan, the head of the Chinese Academy of Macroeconomic Research, explained that China underpins the global economy thanks to its super-sized market, upgraded industrial and supply chains, and the global expansion of Chinese companies. China's retail sales of consumer goods reached 50 trillion yuan ($7.47 trillion) last year, making it the world's second-largest consumer market.

China's opening-up is creating opportunities for foreign goods to enter its market, with the annual China International Import Expo facilitating this exchange.

China's imports reached 18.5 trillion yuan last year, making it the world's second-largest import market for 17 consecutive years. Its imports come from more than 130 countries and regions, making it a major export destination for nearly 80 countries. Huang also noted that China's exports are shifting from finished consumer goods to intermediate products, supporting the industrialization of the world, particularly in Southeast Asia, Africa, and Latin America, as well as re-industrialization in developed economies like the United States and Europe.

Richard Caplan, a professor of international relations at Oxford University, added that China's economic momentum has notably boosted global growth. He highlighted that Chinese investments have been very important for growth worldwide, and he believes China will continue to play and can play an important role in contributing to global economic growth through the transfer of technology and knowledge.