The achievements of high-quality economic development in China are constantly emerging.

　　Under the background that the world economy is facing difficulties, it is particularly important to give full play to its own advantages for the sustainable development of China’s economy. China has formulated scientific and effective policies to promote high-quality development and continuously achieve new results, which is important for the world economy.

　　At present, influenced by multiple factors, the downward pressure on the world economy has increased. In this context, it is more important for China’s economy to show its strong resilience. With the optimization and adjustment of epidemic prevention and control policies, China’s economic and social vitality has been continuously restored, which will provide more powerful kinetic energy for world economic recovery.

　　In recent years, the achievements of high-quality economic development in China are constantly emerging, and the vigorous development of high-tech industries is an example. In 2022, the added value of high-tech manufacturing industry above designated size in China increased by 7.4% over the previous year, and the investment in high-tech manufacturing industry and high-tech service industry increased by 22.2% and 12.1% respectively. With the continuous promotion of reform and opening up, the in-depth implementation of the innovation-driven development strategy and the continuous improvement of the business environment, the new kinetic energy of China’s economic growth will continue to grow and its economic potential is expected to be further released.

　　The COVID-19 epidemic has had many negative effects on international trade, but China has quickly adapted to the new changes in the global economic and trade situation. In 2022, the scale of China’s foreign trade reached a new record high, and the total value of goods import and export exceeded 40 trillion yuan, reaching 42.07 trillion yuan, an increase of 7.7%. China’s foreign trade scale continues to expand, which fully reflects China’s important position in the global industrial chain supply chain. In the future, by further deepening international economic and trade cooperation, China will play a more important role in promoting the global economic cycle and helping the world economic growth.

　　The rapid development of digital economy in China has become a new bright spot of economic growth. Cross-border e-commerce in China has developed vigorously, establishing world-class storage capacity, diversified logistics and transportation channels and efficient logistics and transportation management system, fully demonstrating the vitality of China’s digital economy. China has established a good digital ecosystem, which has made important contributions to the development of global digital economy.

　　Since last year, developed countries have adopted radical monetary policies to curb the high inflation rate, which has intensified the volatility of global financial markets and increased the uncertainty of world economic recovery. Compared with other major economies, China has more macro-policy space. China is implementing a proactive fiscal policy and a prudent monetary policy, and is striving to strengthen the coordination of various policies, which will help China effectively meet the challenges faced by economic development.

　　China has obvious advantages in economic and social development. Under the background that the world economy is facing difficulties, it is particularly important to give full play to its own advantages for the sustainable development of China’s economy. China has formulated scientific and effective policies to promote high-quality development and continuously achieve new results, which is of great benefit to the world economy.

　　(The author is the Acting Director of the Department of World Economy and International Economic Relations, Russian State University of Management)