New points of growth
To fully appreciate the scale of the Chinese economy, it should be borne in mind that last year the Celestial Empire’s gross domestic product reached almost 135 trillion yuan, increasing by 5 percent. At the same time, as Zhang Wenchuan emphasized, the growth rate was one of the highest among the world’s largest economies, and China’s contribution to global economic growth remained at about 30 percent.
The Chinese government intends to stabilize foreign trade and the inflow of foreign investment, develop new points of growth — «green trade» and digital economy (which includes the wide use of modern advantages of artificial intelligence). Key exhibitions, including the China International Import Expo, the China Import and Export Fair (Canton Fair), the China International Fair for Trade in Services (CIFTIS), the Global Digital Trade Fair and the China International Consumer Goods Fair, will contribute to the development of cooperation. As stated at the press briefing, China plans to provide foreign-invested enterprises with national treatment in acquiring inputs, obtaining licenses, developing standards and participating in government procurement.
According to Zhang Wenchuan, China will continue to deepen multilateral and regional economic cooperation, resolutely uphold the multilateral trading system, expand the intersection of interests with other countries in the world and promote common development.
Despite sanctions
China and Belarus, as all-weather and all-round strategic partners, have provided each other with political mutual support and demonstrated a high degree of coordination in action. «The Chinese side has consistently stood firmly against illegal unilateral sanctions and «long-arm jurisdiction,» Zhang Wenchuan emphasized. «China firmly supports the right of countries to protect their legitimate interests, the fairness and openness of the international system, and to promote inclusive and coordinated global development.»
According to the diplomat, mutual support has successfully turned the challenges of sanctions into opportunities for cooperation and external pressure into an engine of development. «In recent years, the interaction between China and Belarus under the „One Belt, One Road“ construction initiative has achieved remarkable success: the volume of bilateral trade is dynamically increasing and the trade structure is constantly optimized,» the ambassador said. «The pearl of the initiative, the Great Stone China-Belarus Industrial Park, has demonstrated stable development; it has attracted 144 resident companies from 14 countries with a planned investment volume of over 1.5 billion dollars and created more than 3,000 working places. A large number of key cooperation projects are successfully realized and put into operation.»
According to the embassy, in the future China and Belarus may form a cross-border tourist corridor from East to West, thus giving a new impetus to humanitarian cooperation within the framework of the «One Belt, One Road» initiative.
A breakthrough document
The agreement between the governments of Belarus and China on trade in services and investment, which was signed last year, became one of the strategic documents, the implementation of which will contribute to the expansion of bilateral cooperation. According to the Belarusian Ministry of Economy, it is predicted that as a result of its implementation, the export of Belarusian services to China will increase by at least 12.5%. At the same time, the biggest growth is expected in other business services (plus 261.1%) and communication services (plus 20.8%).
«The agreement is a breakthrough document. Belarus has become the first EAEU state to formalize the creation of a free trade zone in services with China,» noted in the Ministry of Economy. «For Belarus, the agreement with China has become the first bilateral international treaty regulating trade in services. Our countries assume a fairly high level of obligations on access to the market of services and investment.»
According to Wang Ruijuan, Counselor of the PRC Embassy, in the field of trade in services the agreement covers a number of sectors, including finance, tourism, transportation and logistics, telecommunications, computer technology. In the investment sphere, the document contains specific provisions on mutual conditions for investors and guarantees of a fair and equitable business environment.
In the «SCO family»
Strengthening the role of Belarus as a full-fledged member of the SCO will make it possible to spread the China-Belarus cooperation experience among other member countries of the organization. As Yan Feng, Counselor of the Chinese Embassy in Belarus, reminded, last year China took over the rotating presidency of the Shanghai Cooperation Organization, while Belarus completed the procedure of joining the SCO family. This year, our countries will jointly witness many «bright moments» in the development of this influential global platform.
«A key event will be the organization of the summit of heads of state. This fall, SCO leaders will gather in Tianjin,» Yan Feng said. «The SCO will begin a new stage of its development precisely from China.» According to the adviser, ministerial meetings will also be held in areas such as foreign policy, defense, transportation and health care with the participation of all member states, including Belarus. «China plans to organize more than 100 events in political, economic, humanitarian and other spheres,» Yan Feng remarked.
Nikolay LITVINOV
Photo by Yevgeny PYASETSKY
