Page 7 - ON BUILDING A HUMAN COMMUNITY WITH A SHARED FUTURE

A NEW BLUEPRINT FOR GLOBAL GROWTH

meet international standards.
China’s development has benefited from the international
community, and we are ready to provide more public goods in return. I
have proposed the Belt and Road Initiative to share China’s development
opportunities with countries along the Belt and Road routes and to
achieve common prosperity. Major progress has been made in launching
key projects and building the economic corridors of the Silk Road
Economic Belt, while building on the 21st-Century Maritime Silk Road
is well underway. The Asian Infrastructure Investment Bank initiated by
China has already begun to play a positive role in regional infrastructure
development.
Here, I wish to stress that the new mechanisms and initiatives
launched by China are not intended to reinvent the wheel or to target
any other country. Rather, they are designed to complement and improve
current international mechanisms with a view to realizing mutually
beneficial cooperation and shared development. China’s opening to the
outside world is not a solo act, but an invitation to all. It is a pursuit
not to establish China’s own sphere of influence, but to support the
common development of all countries. It is meant to build not China’s
own backyard, but a common garden to be shared by all countries.
We are firm in our resolve to implement the above-mentioned
reform and development measures. These measures have already begun
producing initial results. In the first half of this year, China’s GDP grew
by 6.7 percent, and its industrial upgrading and structural adjustment
picked up pace. Final consumption expenditure contributed 73.4
percent to the GDP growth, and the value added of the tertiary industry
accounted for 54.1 percent of GDP. Personal income grew steadily,
and 7.17 million jobs were added in urban areas. There is every reason
to believe that China will embrace even better prospects and make still
greater contributions to the world.

Ladies and Gentlemen,
Friends,
The world economy is currently undergoing profound adjustments
as it progresses along a twisted path to recovery. We have now reached
a critical juncture where new growth drivers are replacing old ones.

379