China’s economic strategy in a complex and unstable world

Globally, as the second largest economic country, China is intensively pursuing its own economic progress, through multilateral strategies aimed at attracting investment and promoting domestic consumption. China’s economy is one of the strongest and most complex economic systems in the world. After the establishment of the People’s Republic of China in 1949, China established a socialist commercial, since 1978, China has moved towards economic opening, with an average growth of 10 percent that led to lifting nearly 800 million people out of poverty. In following years, China has seen clear growth in health, education and other services. Today, China is a middle-income country and many people still live under the poverty line that live in urban areas.

Beijing is working to draw the attention of the world’s countries to its developments, especially through holding international conferences and forums, particularly on the economy, trade and investment, to ensure political and economic achievements. Friendly cooperation between some countries of the world has made significant progress, especially with the countries of the Middle East. This was discussed in detail at the last Arab-Chinese summit held in Riyadh in December of 2022.  China believes that improving its political, economic and trade relations with the outside world will bring countless global interests, particularly nowadays that Beijing is working to establish a Chinese economic system against the US-led Western system. Beijing can thus act as a bridge between political, commercial, economic, social and cultural relations between continents.

“China’s Broader Objectives in the Economic Development Framework”

In general, Beijing has a number of economic goals at the strategic level (short-term, medium-term, long-term), for this purpose, Beijing works on economic strength as a soft tool to develop and spread a special model to the world. From this perspective, Beijing’s comprehensive economic development objectives are summarized as follows:-

• • Attracting foreign investment to China in order to further open its economic market and adopt the economic system is trying to replace the Western economic system. Trade between China and Africa is $141 billion in the first six months of this year.

• • Promoting consumption at the domestic level is an essential goal of the country’s commitment to sustainable economic growth and global integration.

• • Strategic initiatives and market opening, a gradual opening of markets to foreign investors and easing foreign ownership restrictions reflect China’s commitment to global economic integration.

• • Infrastructure investment, focus on infrastructure projects, China’s historic with significant infrastructure projects not only stimulates economic activity but also creates investment opportunities for both domestic and foreign parties.

“Technology and Innovation as an Area of Investment”

Technology and innovation are seen as two interconnected concepts from Beijing’s perspective, and to this end, there are large investments in research and development that emphasize China’s various aspirations to become a global leader in technology and innovation. Initiatives to attract foreign technology companies and encourage domestic innovation form a key part of Beijing’s strategy in this area.

Finally, China’s dynamic economic landscape reflects its strategic pursuit of development goals among global challenges. While current initiatives emphasize openness, innovation and consumption-led growth, recent responses to economic challenges emphasize the adaptation of Chinese policies. As the country moves toward normalization afterward covid-19, the role of foreign investment, domestic consumption and innovative financial instruments such as panda bonds will continue to shape China’s economic route on the global economic stage.