国内英语资讯:China Focus: Chinas economic shift to propel global growth_时事

国内英语资讯:China Focus: Chinas economic shift to propel global growth

While maintaining strong exports, China is also buying more from the world, with its imports up 18.7 percent year-on-year to 12.5 trillion yuan (about 2 trillion U.S. dollars) in 2017.

"Not only did China's imports continue to grow, they also cover a broader range of sectors, benefiting both developed and developing economies," said Li Daokui, an economist with Tsinghua University.

For instance, China's increased imports of crude oil and iron ore helped boost the economy of resource-rich countries, while its imports of integrated circuits and metal-working machines have benefited developed economies.

China has promised to further boost its imports. The Ministry of Commerce forecast last November that China would import more than 10 trillion U.S. dollars of goods and services in the next five years.

This year, China will host the first China International Import Expo (CIIE), showing its determination to open wider to the world and increase consumption of its fast-growing middle-income group.

More than 1,000 enterprises from over 120 countries and regions have signed up to attend the event slated for Nov. 5 to 10 in Shanghai.

Despite the rising protectionism in major economies, China has remained a staunch champion for free trade. In his report, Premier Li reiterated China's support for promoting economic globalization and protecting free trade.

"China calls for trade disputes to be settled through discussion as equals, opposes trade protectionism, and will resolutely safeguard its lawful rights," he said, noting that the country is ready to work with all parties to advance multilateral trade negotiations.