Xue: China’s demand provides market chance

By GLORIA BAUAI
A Chinese official says China is entering a stage where its domestic demand will provide the best market opportunity and Papua New Guinea should be ready to benefit from this.
Chinese ambassador Xue Bing explained that China would celebrate the centenary of the founding of the communist party of China.
It will also be the beginning of China’s 14th five-year plan for economic and social development and the start of the country’s new journey to fully building a modern socialist country.
“Entering a new stage of development, China will quicken its pace in fostering a new development paradigm with domestic circulation at immense state and domestic and international circulation reinforcing each other,” he said.
“This will unleash all the full potentials of China’s vast market and domestic demand, generated by the 1.4 billion population.”
Xue explained that 1.4 billion means every year, numbers of new born babies equaled to the population of Australia.
“So it’s a large market,” he said.
“We also have 400 million middle-income population – that’s a large buyer force. It will certainly boost global demand and create more opportunity for the rest of the world.”
Xue said China would continue to open its door wider and take a more active role in bilateral, multilateral and regional cooperation that delivered high level of mutual benefit for all.