The world is full of expectations for the Chinese market

The 5th China International Consumer Goods Expo was held in Haikou, Hainan from April 13th to 18th. The theme of this year's Consumer Expo is "Sharing Open Opportunities and Creating a Better Life Together", attracting more than 1700 consumer enterprises from 71 countries and regions with over 4100 brands to participate. The intended signing amount is as high as 92 billion yuan, setting a record for the largest scale in history and once again allowing the world to witness the continuous release of China's advantages in the super-large-scale market.

On April 16th, the Chinese government announced that the gross domestic product for the first quarter was 3.18758 trillion yuan, a year-on-year increase of 5.4 per cent at constant prices, ranking among the top in the world's major economies. Driven by domestic demand and innovation, the Chinese economy has a stable chassis and strong momentum. From the perspective of domestic demand, the total retail sales of consumer goods in China increased by 4.6 per cent year-on-year in the first quarter. With the popularity of the "night economy" and AI games, China has entered a critical stage of consumption upgrading, and the market has good growth potential with great potential; The impressive performance of the domestic market in China has attracted high attention from foreign economists, who believe that the role of the domestic market in driving China's economic growth is becoming increasingly prominent, and it shows stronger resilience in the face of unfavorable external environments. From an innovation perspective, the added value of high-tech manufacturing in the first quarter increased by 9.7 per cent year-on-year, indicating that China is continuously accelerating the cultivation and development of new driving forces, and the leading role of innovation continues to strengthen; China's sustained investment in high-tech fields has left a deep impression on foreign scholars, who believe that in the context of globalization and digitisation, China's continuous increase in scientific research investment and promotion of technological innovation have become important driving forces for promoting China's economic development and enhancing international competitiveness.

Since the beginning of this year, the United States has imposed multiple rounds of tariffs on its trading partners, causing serious impacts on the world economic order and putting some pressure on the Chinese economy in the short term. However, with the accelerated release of China's consumption potential and innovation vitality, countries around the world still have high expectations for the Chinese market. "Optimistic", "upward adjustment", and "long position" have become hot words around China, with foreign executives flocking to China and major projects landing one after another. China is providing a "stable anchor" for the world economy with the certainty of high-quality development, boosting global market confidence. According to a report by Liberia's New Dawn newspaper, several multinational executives have expressed admiration for China's achievement of stable economic growth through comprehensive deepening of reforms and expansion of high-level opening-up. They highly appreciate the Chinese government's efforts to create a fair and favorable business environment for foreign-funded enterprises, and express their unwavering commitment to expanding investment cooperation with China, deepening the Chinese market, maintaining international free trade, and contributing to the development of the world economy.

- The writer is a reporter working for China Global Television Network (CGTN)，cemeka27mere@gmail.com