Int'l Media Eyes on Economic Prospects in China
    2012-11-16 06:53:02     CRIENGLISH.com         Web Editor: Wang

As the 18th National Congress of the Communist Party of China concluded, Chinese economic development in the next five years and cooperation between China and the rest of the world have hit the headlines for many international media outlets. As CRI's Wei Tong reports, some have given a positive outlook for the Chinese economy, while others have pointed out some fresh challenges ahead.

 

Wang Shucheng, chairman of Hong Kong Wenweipo publication speaks highly of China's achievements over the past ten years and predicts a bright economic outlook.

"People believe the bottleneck for Chinese economic transformation is being eradicated. The Chinese economy bears a potential driving force to prosperity. Meanwhile, China is capable of reviving its economy on its own when encountering difficulties. So we are confident about China's economic prospects."

Joseph Muiruri, a reporter with Kenyan-based People's Daily says China's rapid development has contributed to the world economy, especially in the developing world such as Africa. He expects to see China-African trade ties getting even closer.

"Economic growth is the number one issue - it's what Africans mostly benefit from. So we have a free access to trade with China and that improves the lives of our people back home."

Muiruri adds that the Chinese model of economic growth could be a useful references for African nations to follow.

However, Andrew William Jones, executive producer of the UK-based GB Times, points out some challenges in China's economic transformation.

"It is kind of expected also that China will change course from exports to let the economy focus on domestic consumption. So it's a concern whether China can keep up this 7.5 percent annual growth rate. From my perspective, I think this is achievable and I think there are big concerns over the real estate because lots of units of housing which were being bought unused, so I think there is fear that there could be similar kind of bubble collapse like in the west five years ago."

Jones also shared his understanding of Building a "Beautiful China", the notion advocated at the congress.

"That is an extremely interesting term that was introduced. Initially economic growth seemed to be main theme but now it has changed in direction and focused more as Hu Jintao said on an all-round way to develop China. It seems like there could be a lot for the scope that rapid economic growth isn't going to be the way forward."

More than 1,700 international journalists have registered to cover the congress.

The congress closed on Wednesday. The congress called on discipline inspection commissions at all levels to gear their work towards boosting the Chinese economy and combating corruption in an integrated way.

For CRI, I am Wei Tong.