In the words of President Xi Jinping, China wants to continue its reform course and open up to the world. In his New Year’s speech, broadcast on all major state media, Xi said China will not slow in its pace of reform and open the door to international opening.
„When we open our eyes to look at the world, we will face great changes, changes that have not been seen in 100 years,“ Xi said in his speech. According to the Chinese president, the new year will bring both opportunities and challenges. The smoldering trade dispute with the US was not mentioned by Xi.
As the world situation changes, China’s confidence and determination to protect national independence and security will not change. „China’s sincerity and goodwill in securing world peace and promoting common development will not change,“ Xi said.
Adhering to growth target of 6.5 percent
In the past year, China’s economy has moved on a „reasonable scale“. Despite various risks and challenges, new growth drivers have been launched.
China still sees its growth target of 6.5% (6.9% in the prior year) for 2018 still within reach, but a further decline is expected for the new year. The World Bank forecasts economic growth of 6.2 percent for 2019 – a solid figure by international standards, but the worst economic performance in China for almost 30 years.
