China's growth injects vitality into global governance

Chinese President Xi Jinping attends the first session of the 10th summit of the Group of Twenty (G20) major economies in Antalya, Turkey, Nov 15, 2015. [Photo/Xinhua]

BEIJING - China accounts for 30 percent of global growth, it is the world's second largest economy and the largest developing country, and the ripple effect of this positive energy will continue to create opportunities across the globe.

While the lingering fog of the international financial crisis has yet to clear, collective action for inclusive and robust growth -- characteristics that define China's own growth story -- have emerged as guiding lights that can help counties and regions navigate these choppy economic seas.

These motions also featured heavily during the just-concluded G20 summit in Antalya, Turkey.

The G20 brings together the world's major advanced and emerging economies, representing around 80 percent of world trade and two-thirds of the world population, to deliberate economic and financial policy issues.

The first G20 Leaders' Summit was held in Washington, D.C. in the United States in 2008. Since it's inception, it has played an integral role in promoting a more balanced, developed international financial structure.

Chinese President Xi Jinping said at a speech delivered at the summit that G20 members should not only address the immediate challenge by stabilizing growth, but also tackle the root cause by gathering momentum for long-term development.

The febrile recovery following the 2008 crisis has been used by many as an example as to why improvements must be made to the current global financial administration. In fact, a system for enhanced collective dialog on action, driven by emerging markets and diversified growth engines, is already taking shape.

Again, we can see similarities with China policies -- in this case open and shared development, two strategies expected to be outlined in the nation's economic and social development blueprint, the 13th Five-year Plan (2016-2020).

With more than 100 million Chinese making overseas trips in 2014, economies are already reaping the benefits of a better-off Chinese populous, and out-bound tourism is showing no signs of slowing.

It is indisputable that the world would suffer should China slip into the depths of recession and no longer contribute around 10 percent to global export-import volume: China and the rest of the world must unite to address global challenges.

The projected growth path outlined in the five-year plan is China assuring the world that it is in for the long-haul; through thick and thin.

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