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Politics News

China returns to normalcy

Normalcy has returned to the Peoples’ Republic of China, where the out break of the Corana virus was first reported in December 2019, according to Chinese Ambassador to Liberia Mr. RenYisheng.

Addressing the Liberian media via a zoom conference on Tuesday November 24 to commemorate the 20th anniversary of the Forum on China-Africa Cooperation (FOCAC), Mr. Ren said normal life has resumed in China as its industrial production has taken off as well.

The Chinese diplomat explained that this comes on the heels of his government strong engagement in the development of COVId-19 vaccines in partnership with friendly countries, adding that the Liberian health authorities here have been approached to join in the vaccine development program.

With the return of normalcy, Mr. Ren noted that China’s gross domestic product is expected to exceed 100 trillion yuan ($14.9 trillion) in 2020.

The IMF has projected China’s economy to grow by 1.9 percent in 2020 in its latest World Economic Outlook report, making it the only major economy that will see positive growth this year, with the global economy expected to post a 4.4-percent decline.

The report which gives China something to smile about disclosed that 55.75 million rural residents lifted out of poverty; more than 60 million new urban jobs created; annual grain output remained above 650 million metric tons for five consecutive years; basic medical insurance covers over 1.3 billion people; basic old-age insurance covers nearly 1 billion people.

The report further says China is still in an important period of strategic opportunity for development at present and for the foreseeable future, but there are new developments in both opportunities and challenges.

In 2021, China will enter a new development stage and embark a new journey of building a modern socialist country in all respects. This is anticipated to be a milestone in the history of China’s development.

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The forecast projects China positively indicating that for the 14th Five-Year Plan period, China will speed up fostering a new development pattern where domestic and foreign markets can boost each other, with the domestic market as the mainstay.

The Communist state is also expected to make new strides in economic development during the period. It aims to realize sustained and healthy economic development on the basis of a marked improvement in quality and efficiency.

With new steps to be taken in reform and opening up, China is expected to further improve its socialist market economy and basically complete the building of a high-standard market system. China’s social etiquette and civility shall be further enhanced, while the core socialist values shall be embraced by the people. The country aims to make new progress in building an ecological civilization, boost the well-being of people, and enhance governance capacity. The document also outlines the long-term vision of basically realizing socialist modernization by 2035.

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