Editor's note: Alba Tang is a researcher at the Chinese Academy of International Trade and Economic Cooperation under China's Ministry of Commerce. The article reflects the author's opinions and not necessarily the views of CGTN.

Faced with a long period of significant monetary policy tightening and geopolitical shocks, the international environment has become more complex and severe, and the global economy is still in turbulent development. 

The International Monetary Fund predicts that the global economy will slow down to 3 percent, which is lower than the historical average (3.8 percent).

Geographical crises, such as the Russia-Ukraine conflict and the Palestine-Israel conflict, are difficult to properly resolve in the short term. Therefore, we should remain cautious about the overall development of economic trends. 

Moreover, there are currently differences in the views of various organizations on global growth prospects. It is difficult to predict at which point the situation will undergo a critical change. Finding and expanding access to finance can help change the status quo. 

Private capital can have a significant impact in driving digital transformation, energy, food and climate sustainability efforts in developing countries, and can create cascading effects in multiple development areas. 

Accelerating the green transition, building resilience to climate shocks and improving food security for millions of people require further strengthening of multilateral frameworks and compliance with rules-based international cooperation platforms.

Overall, the global economic recovery is slowing down. This is an objective status quo. 

The economic conditions of some countries are showing signs of improvement, such as in the United States, Japan, and others. The economic growth prospects of emerging markets and developing economies are stable, and the growth rate may decline slightly. 

Among them, the growth rate of Asian economies is higher than that of other regions, and China's economy continues to recover steadily. 

Therefore, although China's economy is currently facing adverse impacts, such as declining external demand and tightening monetary policies in some major economies, China's relevant economic policies have large manoeuvring space and the country can inject new momentum into economic growth through coordinated fiscal and monetary policies.

As the world's second-largest economy, the largest manufacturing country and the largest trader of goods, China plays an important role in the global value chain. 

China's economic trends will affect the global economy. Over the past few decades, global economic growth has been supported by China's strong economic growth. 

China's economy is highly resilient, has great potential and is full of vitality. Its long-term positive fundamentals have not changed, and it remains an important engine for world economic growth.

In the first half of 2023, China's economy grew by 5.5 percent year on year, placing it in a leading position among the world's major economies in terms of recovery speed.

In July, although the growth rate of some economic indicators has fluctuated, the overall trend is that China has continued to recover. Since August, some economic indicators such as China's manufacturing purchasing managers' index, China's bulk commodity index, China's e-commerce logistics index, and so on, have continued to rebound, and the economic recovery is gaining momentum. 

China's supporting industries are comprehensive and its economy is highly resilient. The vast majority of foreign-invested enterprises in China still regard China as their main strategic market. Foreign experts' confidence in exploring the Chinese market has not diminished. It is expected that the profit rate of investment in China will remain the same or increase this year. 

The "World Investment Report 2023" released by the United Nations Conference on Trade and Development shows that China's foreign direct investment return rate in the past five years has been 9.1 percent, much higher than the approximately 3 percent in Europe and the United States, and also higher than 4 percent to 8 percent in some emerging economies such as Brazil, South Africa and India.

In a situation where global cross-border investment is generally sluggish, foreign capital is actively being invested in high-end industries and emerging fields in China, and there exists optimism about the prospects for high-quality development of the Chinese economy. 

In the first seven months of this year, the actual use of foreign investment in China's high-tech industries increased by 3.8 percent year on year. Of those, high-tech manufacturing increased by 25.3 percent.

The country's economic structure is constantly being optimized, its endogenous driving force is being concentrated, and the Chinese economy is making strides on the path of high-quality development. 

It is providing the world with new development impetus with China's large market opportunities, and providing the world with more high-quality development.

China has achieved great development in several fields. It possesses great potential in terms of its consumption industry and has many supply gaps for high-quality goods and services.

China's innovative development momentum is constantly growing and is also comprehensively deepening reforms.

More importantly, China as an open market has a great future. 

The just-concluded 2023 Service Trade Fair achieved more than 1,100 outcomes, and the internationalization rate of offline exhibitors exceeded 20 percent. The 7th China-South Asia Expo concentrated on signing 338 investment projects. The 14th China-Northeast Asia Expo attracted investment 84.48 billion yuan ($11.61 billion), with the scale of project investments reaching a new high. 

This month, China will hold the third Belt and Road Forum for International Cooperation. 

In the first half of this year, the import and export volume of China and the countries co-building the Belt and Road increased by 9.8 percent year on year, accounting for 34.3 percent of the total.

The joint construction of the Belt and Road Initiative has become a popular international public product and cooperation platform, opening up new space for world economic growth and building a new platform for international trade and investment. 

China is also committed to fulfilling its low-carbon commitments, actively promotes the green and low-carbon transformation of global energy, carries out extensive cooperation in renewable energy, and promotes the joint construction of a green Belt and Road, which is a highlight of the Belt and Road energy cooperation.

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