China’s development is expected to take a big step forward and inject stronger impetus into the global economic recovery and long-term development said the Chinese Foreign Ministry on weekend.

Russian President Vladimir Putin said at the Russia Calling Investment Forum that China remains an engine of the world economy. Heads of Foreign Chambers of Commerce in China and delegates from multinationals also said that China’s economic growth against all odds helps boost the world economic recovery and reinforce global business confidence in the Chinese market.

Chinese Foreign Ministry spokesman Wang Wenbin said at Friday’s regular press briefing in Beijing that lately many foreign leaders and international financial institutions and multinationals have expressed optimism about China’s economic growth and confidence in and expectations for China’s future development.

“The fifth plenary session of the 19th Central Committee of the Communist Party of China, which was just concluded, released a communique, stating that China will remain committed to the new concept of innovative, coordinated, green, open and inclusive development, pursue quality development, deepen supply-side structural reform, advance reform and innovation to meet people’s increasing need for a better life, accelerate efforts to establish a new dual-cycle development pattern with the domestic cycle as the mainstay and the domestic and international cycles reinforcing each other, and basically achieve socialist modernization by 2035,” he said.

The plenary session, held in Beijing from Oct 26 to 29, adopted the Party leadership’s proposals for formulating the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035, charting the course for China’s development in the next 15 years.

“The communique mentioned “reform” and “opening-up” more than 20 times, pledging to further expand and deepen opening-up, establish new institutions for an open economy at a higher level, promote high-quality Belt & Road cooperation, and pursue win-win international cooperation. It sends out a clear signal that China will remain committed to deepening reform and opening-up and realizing win-win cooperation,” added Wang.

“With the formulation and implementation of the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035, China’s development is expected to take a big step forward and mutually-beneficial cooperation between China and other countries will yield more fruitful outcomes, which will inject stronger impetus into the global economic recovery and long-term development,” he said.