WORLD'S SUPER-BUYER AND SUPER-SELLER, THE WORLD SHARES CHINA'S BENEFITS

BEIJING, AUGUST 24 /SRNA/ - In the first seven months of this year, China's trade in goods grew by 17.3% compared to the same period last year, and imports increased by 22 percent, growing faster than exports for five consecutive months, according to a commentary by the China Media Group.

On the shelves of Chinese stores, it adds, one can see "high-quality products from all over the world," while at the same time, products "made in China" are being shipped from ports around the globe. "Today, China is not only a global `super-seller` but also a `super-buyer`. Certain foreign media assess that China is increasingly contributing to global trade and becoming an important driving force of the world economy. Global trade barriers have become more pronounced since the beginning of the year. Geopolitical tensions are rising, while global industrial chains are under constant pressure," the text adds. The International Monetary Fund recently forecasted that global trade growth would slow from 5 percent in 2025 to 3.5 percent this year. Some Western politicians and media claim that China's trade surplus represents a "blow" to the global market and that the development of Chinese industry limits the space for the industrialization of the Global South. However, such assessments, the text evaluates, ignore basic economic facts. Sang Baichuan, Director of the China Institute for Open Economy Theory at the University of International Business and Economics, said that China, as the world's largest manufacturing power, thanks to its comprehensive industrial system and technological innovations, continuously produces high-quality products at competitive prices and quickly responds to the needs of other countries, thereby becoming a "super-seller". At the same time, China continues to expand the high-level opening of its market, promotes balanced trade development, and strives to turn the advantages of its huge domestic market into new opportunities for the rest of the world, thus also becoming a popular "super-buyer". Facts, it is stated, are the best response to criticisms of China. As a "super-seller," China provides the world with high-quality, stable, and reliable products at competitive prices. Chinese machinery and industrial components, for example, help companies in developing countries reduce costs, increase efficiency, and expand production capacities. Chinese air conditioners help people in Europe more easily endure heat waves, while Chinese new energy vehicles allow foreign consumers to cut costs and enjoy a more modern driving experience, writes the China Media Group commentary. Simultaneously, China continues to expand the opening of its market and further strengthens its role as a "super-buyer," turning the massive Chinese market into a vast opportunity for the rest of the world. The 15th Five-Year Plan clearly states that China will promote the balanced development of imports and exports. This year's Government Work Report also noted that China will actively increase imports to stimulate the balanced development of trade. For 17 consecutive years, China has been the second-largest importer in the world, while applying a zero-tariff policy to 63 countries. In the first seven months of this year, imports from more than 150 trading partners recorded growth. At a time when global economic recovery is slow and demand is weakened, the market becomes one of the most valuable resources. From agricultural products to industrial components, from cosmetics to medical equipment, China is continuously increasing its imports. By doing so, it not only meets the needs of its citizens and businesses but also brings new orders, jobs, and development opportunities to trading partners around the world. "Super-buyer and super-seller" - China wants to simultaneously be the "world's factory" and the "world's market," the commentary concludes.