Editor's Note: Yang Hangjun is associate dean of the School of International Trade and Economics, University of International Business and Economics. The article reflects the author's opinions and not necessarily the views of CGTN.

The COVID-19 pandemic has had a profound impact on the world economy, disrupting supply chains, causing widespread unemployment, and reducing global trade. China's economy was the first hit by the pandemic, with strict lockdown measures in early 2020 leading to a significant contraction in economic activity.

However, the Chinese government's quick and decisive action, coupled with an aggressive fiscal stimulus package, helped to jump-start the economy. China's GDP grew 2.3% in 2020, making it the only major economy to achieve positive growth that year. In 2021, China's growth reached 8.1%, far ahead of other major economies.

Last year's growth fell to 3% due to many COVID-19 outbreaks across the country but institutions predict that China's GDP will expand more than 5% this year now that the country's COVID-19 measures have been lifted. China is the main engine of global economic expansion. Its average contribution to world economic growth has exceeded 30% in the past decade and this year's effort is expected to continue at that level.

China's foreign trade has been a driving force behind its growth, with the country being the world's largest exporter and second-largest importer. In 2022, China's total imports and exports of goods reached 42.1 trillion yuan with an increase of 7.7%. China has now maintained its position as the world's top trading country for six consecutive years.

In recent years, China has comprehensively implemented a strategy to upgrade its free trade zones, with the number of free trade agreements reaching 19, and the trade volume with free trade partners accounting for over 35%. Meanwhile, China has signed and implemented the Regional Comprehensive Economic Partnership, which has created the world's largest free trade area. It also has actively promoted joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement. As of 2022, China has signed more than 200 cooperation documents related to the Belt and Road Initiative with 150 countries and 32 international organizations. With the continuous recovery of the Chinese economy, China will make more "Chinese contributions" to promote the construction of an open world economy, injecting a steady stream of new vitality into the world's open cooperation.

China's economic recovery will benefit global supply chains. China is a major player in global supply chains, and disruptions to its economy can have far-reaching effects. The COVID-19 pandemic caused significant disruptions to global supply chains, with many countries experiencing shortages of production materials and medical supplies. Hence, the pandemic has highlighted the importance of resilient supply chains. China has been making great efforts to improve its supply chain infrastructure and strengthen its position in the global supply chain.

"Choking points" in critical core technologies have been a major challenge for the development of China's supply chain. To address this issue, China has invested heavily in advanced manufacturing technologies, such as 5G, high-end chips and artificial intelligence, to enhance its competitiveness in the global supply chain. For instance, China's R&D investment in 2022 exceeded 3 trillion yuan for the first time, accounting for 2.55% of the country's GDP. This number is set to increase in the future. Moreover, China has been working hard to reduce its dependence on imported materials by increasing domestic production of critical components and raw materials.

From the perspective of global governance, China has always adhered to the concept of cooperation and shared benefits. It promotes the construction of an open world economy and the building of a community with a shared future for mankind, in order to better benefit people from all countries.

Since the launch of the Belt and Road Initiative, China's direct investment in countries along the route has exceeded 180 billion US dollars. The investment projects have created tax revenue and local job opportunities and supported and helped developing countries accelerate their development.

During the past three years, China has carried out comprehensive international cooperation in fighting the COVID-19 pandemic by providing vaccines and anti-pandemic materials, and promoting the creation of a global community of health for all. China has demonstrated with practical actions that it continues to expand its opening up to the outside world, which has not only developed itself, but also benefited the world.