China's role in economic globalization

BEIJING, Dec. 30, 2024 /PRNewswire/ -- A report from China Daily:

Economic globalization has brought development opportunities to the world and improved the lives of billions of people around the globe.

As the world's second-largest economy, the largest trading country and the second-largest recipient of foreign direct investment, China has contributed to and benefited from economic globalization. In 2023, China posted total imports and exports worth about $6 trillion and had more than 1 million foreign companies developing their business nationwide. Every 1 percentage point of growth in China's economy helps to raise the production level in other economies by an average of 0.3 percentage points.

Amid a shifting global trade landscape, a growing number of Chinese enterprises are striving to take the lead in technology and innovation, climbing up the global value chain, which has not only boosted regional and national development but provided new impetus to the development of the world economy.

China recently released the fifth season of the documentary This is China. Through the perspectives of enterprises and cities in the Beijing-Tianjin-Hebei metropolitan area and Guangdong-Hong Kong-Macao Greater Bay Area, the new season of the documentary tells stories about global trade; transnational logistics; the digital planet and world factories; sheds light on the changes and new things in China brought by economic globalization; and inspires people with their effect and future development.

Episode 1 of the new documentary season will explore the freight systems of the world. You will see the world's longest international freight train that connects more than 500 cities on the Eurasian continent and ports that operate 24 hours a day, which are parts of a seamlessly connected global freight transportation system that has helped to shape the world we see today.

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SOURCE China Daily