China's economic restructuring to benefit world economy

The transformation of China's economic growth pattern will provide new opportunities for the world economy, a senior economist said Sunday.

As the world's third largest economy, China imports a trillion-plus U.S. dollars worth of goods every year and is becoming the largest engine powering the world's economic growth, Zhang Yutai, president of the Development Research Center of the State Council, said at the China Development Forum 2010.

China has great market potentials for green technology and high-tech exports as it endeavors to eliminate high-energy consuming and heavy-polluting industries as parts of its moves to transform the economic growth pattern, Zhang said.

Apart from creating huge demand for high-tech exports, the country's efforts to save energy and cut emissions also make a great contribution to the global effort in tackling climate change, he said.

Zhang also suggested China open wider to the outside world, adding China's fast economic development in the past 30 years was largely due to the opening-up policy.

The country will strengthen economic cooperation with the outside world and introduce more talents and advanced technology to push forward the transformation of the economic growth pattern, he said.

Xinhua, (2010, March 22). China´s economic restructuring to benefit world economy. Retrieved (2010, March 22). from http://www.china.org.cn/business/2010-03/22/content_19653835.htm