The Chinese economy has overcome challenges and moved forward steadily, achieving high-quality development, which is an inevitable requirement for advancing Chinese modernization. Looking ahead, a China that is steadily moving toward modernization will provide more opportunities for all countries and help the world economy develop in a stable and healthy way.

In the first half of this year, the Chinese economy continued its recovery and positive momentum, with overall stable performance and steady progress. On July 16, the International Monetary Fund released an update to its World Economic Outlook report, projecting China's economy to grow by 5.0 percent this year, 0.4 percentage points higher than the April forecast. The stable operation and long-term positive prospects of the Chinese economy have also added confidence to the recovery of the world economy. The IMF believes that emerging Asian economies, represented by China, remain the main engine of global economic growth.

From China's "half-year report card" for 2024, one can see not only growth in quantity but also improvement in quality. In the first half of the year, China's gross domestic product (GDP) reached 61.7 trillion yuan, up 5.0 percent year on year; total retail sales of consumer goods rose 3.7 percent year on year, with service retail sales up 7.5 percent; investment in infrastructure and manufacturing grew 5.4 percent and 9.5 percent respectively, showing signs of recovery; and total goods imports and exports reached 21.2 trillion yuan, a record high for the same period in history. From both the fundamentals and the medium- and long-term perspective, the general trend of China's high-quality economic development has not changed. Michael Borchmann, former head of the European and International Affairs Department of the German state of Hesse, believes that the fundamentals of the Chinese economy are stable and that it will continue to maintain steady growth in the future.

Observed from a global perspective, China remains an important engine and stabilizing force for world economic growth. In the face of a complex and ever-changing domestic and international environment, the Chinese economy has been generally stable, with industrial upgrading and high-quality development proceeding in an orderly manner, which has increased the "gold content" of China's economic development and enhanced its sustainability. The output of intelligent and green new products such as integrated circuits, service robots, new energy vehicles and solar cells has maintained double-digit growth; new technologies such as big data and artificial intelligence have spawned new consumption scenarios, and new consumption models have driven online retail sales of physical goods up 8.8 percent year on year; energy consumption per unit of GDP has continued to decline... Positive factors driving the transformation and upgrading of the Chinese economy and its high-quality development continue to accumulate. Zafar Uddin Mahmood, founding chairman of the Global Silk Road Research Alliance, a Pakistani think tank, recently wrote in an article that as the global economy faces multiple uncertainties and challenges, China's role as a stabilizing force is more important than ever.

Comprehensively deepening reform has injected strong impetus into China's high-quality development and the advancement of Chinese modernization. Since the 18th National Congress of the Communist Party of China, China has comprehensively deepened reform, striving to enhance the systematicness, holism and synergy of reform and to stimulate the driving force, vitality and potential of high-quality development. Iqbal Surve, chairman of South Africa's Independent Media Group, believes that China's building of a modern industrial system supported by advanced manufacturing demonstrates the CPC's visionary wisdom and courage in boldly pursuing reform. International observers are paying close attention to the third plenary session of the 20th CPC Central Committee, believing that the Chinese economy is in a stage of transitioning between old and new growth drivers and that further comprehensively deepening reform will ensure a smooth transition. Lea Bessis, a French expert on China, said that a China that further comprehensively deepens reform will bring huge opportunities to countries around the world.

China has solidly advanced high-level opening up, opening up broad space for economic development. For the first time, China established a negative list management system for cross-border trade in services nationwide, launched pilot programs to expand opening up in value-added telecommunications services, and introduced a series of policy measures to further support overseas institutions in investing in domestic technology-based enterprises... A series of policy measures demonstrate China's firm determination to promote reform and development through opening up. China is a major trading partner of more than 140 countries and regions, and its total goods trade has ranked first in the world for seven consecutive years; the circle of friends of the Belt and Road Initiative has expanded to more than 150 countries and over 30 international organizations, and China-Europe freight trains reach more than 200 cities in 25 European countries; the China International Import Expo, the China International Fair for Trade in Services, the China International Consumer Products Expo and the China International Supply Chain Expo have built platforms for mutually beneficial cooperation among countries... A report on the website of Argentina's Clarin newspaper holds that a prosperous China not only supports its own future but will also provide opportunities for other countries.

The Chinese economy has overcome challenges and moved forward steadily, achieving high-quality development, which is an inevitable requirement for advancing Chinese modernization. Looking ahead, a China that is steadily moving toward modernization will provide more opportunities for all countries and help the world economy develop in a stable and healthy way.