by H E Ambassador Yang Shu
The recent Chinese National Day and Mid-Autumn Festival holiday, from 1–8 October, witnessed unprecedented people flows and consumption nationwide.
Cross-regional passenger trips reached a record high of approximately 2.43 billion, a year-on-year increase of 6.3%. The cross-border travel also saw a historical surge, with the average daily number of inbound and outbound travellers exceeding 2.04 million, an increase of 11.5% compared with the same period last year, and bookings for flights to China by foreign tourists rose by more than 40%. These figures not only reflect the enthusiasm of Chinese tourists “going abroad,” but also show the growing eagerness of foreign visitors “coming in,” reflecting the country’s steady economic growth, continued openness, and strong vitality, which are quite valuable amid rising global economic uncertainties. The reason that China can maintain stable and sustained growth lies in its ability to respond to global uncertainties with the following certainties:
First, a consistent development strategy and scientific macroeconomic policies. China’s modernisation is a systematic project that transcends generations, which could only be achieved with sustained effort and strategic resolve. Since 1953, China has formulated and implemented 14 Five-Year Plans. The successive Five-Year Plans have maintained policy coherence and continuity, ensuring a long-term vision beyond short-term political cycles. Moreover, China always follows economic principles in developing its economic policies and maintains sound fiscal and monetary policies. No matter how the external environment changes, China never sacrifices its long-term development for short-term gains, nor is it swayed by any special interest groups, which gives the market confidence.
Second, a super-large market and a complete industrial system. With a population of over 1.4 billion and more than 400 million middle-income consumers, China is the world’s most promising massive market. As urbanisation advances and consumption continues to upgrade, China’s domestic demand potential will keep unfolding. China also boasts a complete industrial system, which provides a solid foundation for sustained growth. Together, these features add resilience to China’s economy. Its economy is a big ship, not a small boat, and it has the strength and confidence to respond to internal and external risks. In the face of the US’s imposition of the so-called “reciprocal tariffs”, we still achieved 5.3% growth for the first half of this year. The “small yard, high fence” strategy also failed to confine China to the lower end of innovation and value chains; The country has continued to make breakthroughs in key and core industries. These achievements demonstrate that China’s economy is unyielding, resilient, and indestructible, undaunted by storms and forging ahead with unwavering determination.
Third, a friendly investment environment. China has been continuously expanding high-level opening-up and enhancing a world-class business environment that is market-oriented, law-based, and internationalised. By the end of 2024, the cumulative number of foreign-funded companies established in China exceeded 1.24 million, with actual utilised foreign capital reaching 20.6 trillion yuan ($2.83 trillion). The construction of free trade pilot zones and free trade ports, the complete removal of negative lists for foreign investment in manufacturing, and the expansion of the “visa-free circle” continuously optimise the business environment. In contrast, some Western countries face prominent social issues such as gun violence and racial discrimination, and even struggle to ensure basic social stability, making it even more difficult to guarantee the personal safety and property security of investors. Both now and in the future, China remains a safe haven where domestic and international investors can operate with confidence and invest with peace of mind.
Fourth, an innovative and green development pattern. Innovation has become the primary driving force for China’s development. China’s ranking in the Global Innovation Index has risen from 34th in 2012 to 10th in 2025, making it one of the economies with the fastest growth in innovation capacity over the past decade. In the meantime, green development has become the hallmark of China’s high-quality economic growth in the new era. Guided by efforts toward carbon peaking and carbon neutrality, China has advanced reforms in the ecological civilisation system and improved mechanisms for green and low-carbon development, becoming a key force in global green transformation. According to the Energy Transition Index released by the World Economic Forum in June 2025, China’s ranking rose by 66 places compared with 2020, reaching 12th globally. By prioritising innovation and green development, China has strengthened its economic competitiveness and sustainability.
Fifth, an inclusive development philosophy. President Xi Jinping, with a profound understanding of global development trends, has put forward a people-centred development philosophy. Under his leadership, China has resolutely won the battle against poverty and achieved the goal of building a moderately prosperous society in all respects. Since 2012, nearly 100 million rural residents have been lifted out of poverty, an achievement described by the international society as one of the greatest in human history. Significant improvements have been made in education, healthcare, elderly care, and housing. Chinese people’s life expectancy has risen to 79 years, and the social security system now covers all 1.4 billion people.
Rather than pursuing unilateralism and self-interest like some countries, China has taken concrete actions to promote an open and inclusive form of economic globalisation, working with countries around the world to pursue common development. The vision of building a community with a shared future for humanity, along with initiatives such as the Belt and Road Initiative (BRI) and the Global Development Initiative (GDI) proposed by President Xi Jinping, has become widely recognised as global public goods that deliver tangible benefits to people around the world. According to the World Bank, by 2030, the BRI is expected to lift 7.6 million people in participating countries out of extreme poverty and 32 million people out of moderate poverty. At present, more than 150 countries have joined the BRI. Over 100 countries and international organisations support and participate in the GDI, and more than 80 countries have joined the “the Group of Friends of the GDI” including Grenada. The Global Development and South-South Cooperation Fund has supported the implementation of over 160 projects, benefiting more than 30 million people.
China believes that its development and the world’s prosperity are inseparable. Guided by its commitment to human progress and global responsibility, China will continue to promote a community with a shared future for humanity, advance inclusive and sustainable development, and foster international cooperation, bringing certainty to an uncertain global economy, and making ever greater contributions to global prosperity and the well-being of all. China hopes that all countries will join in this shared journey.
