China still growth engine of world economy

At the beginning of 2023, China "re-opened" its borders to all foreign visitors by doing away with the health code check, and lifting the other strict pandemic prevention and control measures such as central quarantine. China's decision signified that China is back on the world stage amid the gloomy global economic outlook, fear of global economic recession and slowing down of domestic growth.

This has prompted many to ask whether China can still be a growth engine for the world economy like it had been since the 2008 global financial crisis. The answer is "yes". This time, China's economic (especially macroeconomic) policy and digitalization will pave the path to sustainable domestic economic growth and help boost global growth by, for instance, unleashing the suppressed demand of the middle-income group in China, globalizing Chinese brands and pursuing high-quality economic development.

It is important to state here that a stable macro policy is most critical to help China break out of the slow growth circle.