Models of industrial development

BEIJING, Dec. 31, 2024 /PRNewswire/ -- A news 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 3 of the new documentary season will share with you how China has adopted new models for industrial development in the face of rapidly changing demographics and emerging technologies against the backdrop of a new round of manufacturing relocation.

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SOURCE China Daily