by Yasir Habib Khan
70 years later China's charisma as one of the most resilient and booming nations continues unabated. The mesmerizing growth rate takes the world by storm. Success journey starts from leadership resolve to staggering reforms agenda. Momentum intensifies with opening up to world. The progress agenda gets impetus from economic miracle to political success, trade modernity to business liberalization, manufacture-based market to consumer-based market, innovative models to high-tech strategies and peace endeavours to people-centric policies.
In order to touch new heights of development, Belt and Road Initiative (BRI), new economic engine of global growth, is on a roll. BRI is truly the vanguard of globalization and champions the cause of shared destiny through regional connectivity to international connectivity raising above all prejudices, race, colour, language, region and others.
It is fortunate that in the journey of ultimate success, Pakistan is playing a central role being a part and parcel of BRI in the shape of China-Pakistan economic corridor (CPEC).
Weathering all global odds China is progressing by leaps and bounds. How did China find its own road to prosperity is the most enigmatic question which is sending world reeling. Since Chinese government know that it is highly inevitable to lay bare all secrets of successes behind China’s growth to help sensitize people who matter an informative expedition program formally or informally has gone underway. Under this program, various businessmen, journalists, scholars, political leaders and others have been taken to China to let them to look deeper into multiple issues to understand China and its robust growth.
As a part of such initiative, Understanding China (an NGO or Think Tank) led by Dr Zafar Uddin Mahmood, former special envoy for CPEC in collaboration with Chinese Lahore Consulate arranged a media delegation last month. Shoaib Bin Aziz, former Punjab Information Secretary and ex-press secretary to former CM Punjab Shahbaz Sharif also played his central role in organizing the delegations. From Chinese side in Beijing, Mr. Cui Jun, Editor-in-Chief of China Economic Net, known news portal providing timely economic news reports, was the host.
Sponsored by the Economic Daily, China’s leading business newspaper founded in early 1980s, China Economic Net (CE.cn) is currently the largest and most comprehensive economic information portal in the country. China Economic Net (CE.cn) has forged a unique position within China’s internet media organizations with its Chinese edition, which provides news content support to twenty different channels including News Center, Macro-economy, Finance & Securities, Industries & Commodity Markets, Modern Life, Stock Market, Insurance, Medicine, Auto Industry, Real Estate, Home Appliances, Fashion, Travel, Communication, IT, Chat-room for well-known people, CE Index, and CE Forum.
The core strengths of CE.cn lie in providing the content and analytics needed by its target readers, government officials, economists, professionals and business elite in China. The following four sections in CE.cn’s Chinese Edition can serve most information requirements from its readers.
Currently the English Edition consists of six major parts, including China Report, World News, Business news, Industries, Markets, Insight, and Life. To follow some very important events home and abroad, it will organize relating special report columns on this website. The pages designed for readers overseas to further understand China will also appear under the title Facts about China.
During five days, delegations comprising senior journalists of various organizations received fresh information about what drives China economy, infrastructure, energy, trade, social, cultural and political system.
One of secrets behind development of China is scientific progress of China Railways. With interaction with Zhu Zhexum, chief Engineer of China Railways International Co, Ltd(CRI), officials and NORINCO’s officers, it came to fore how China Railways is making its best strides.
Currently, CRIG owns 8 wholly-owned subsidiaries, 8 branch companies, 3 majorly-owned subsidiaries, and 9 overseas offices, covering many countries from Asia, Africa, Middle East, South America, Oceania and Central & Eastern Europe.
China Railway has built two-thirds of the total length of railways across China. Based on the expertise it has accumulated at home, the company is looking to boost infrastructure exports as a core player in the “One Belt, One Road,” or “New Silk Road,” initiative promoted by the administration of President Xi Jinping. In particular, the company plans to accelerate exports of railway infrastructure -- from rails to traffic control systems to rolling stock -- in collaboration with such concerns as CRRC, a state-owned manufacturer.
By 2020, China Railway plans to double its ratio of overseas sales to 10%. The company hopes to increase orders from Southeast Asian and other nations.
On energy landscape, China boasts best high-tech technology to produce electricity through coal-fired plants across the world. China Huaneng Group Co Ltd is among the toppers in the field.
Since its establishment 33 years ago, China Huaneng produces coal fired power, hydropower, wind power, solar power, and other other products. China Huaneng Group also operates investment management, transportation, and other businesses.
With creating dozens of National Records and several World Records in the field of power generation, wholly-owned and majorly-owned installed power capacity of China Huaneng at home and abroad is over 176.56 GW, among which the coal-fired installed capacity is 128.69 GW, hydro power 26.06 GW, wind power 18.62 GW and solar power 3170 MW by the end of 2018. It is first power generation company in China to “go global”. It expands overseas power technological services to over 20 countries including Pakistan.
Chinese economy grew at 9.5 percent in last 40 years, the highest growth rate was 15.2 percent. It’s important to keep an growth rate of at least 6 percent for developing countries like China. Investment, export-oriented industries and domestic consumption were the three main driving forces.
Prior to the 1978 reforms, nearly four in five Chinese worked in agriculture; by 1994, only one in two did. Reforms expanded property rights in the countryside and touched off a race to form small nonagricultural businesses in rural areas. Decollectivization and higher prices for agricultural products also led to more productive (family) farms and more efficient use of labor. Together these forces induced many workers to move out of agriculture. The resulting rapid growth of village enterprises has drawn tens of millions of people from traditional agriculture into higher-value-added manufacturing.
By welcoming foreign investment, China’s open-door policy has added power to the economic transformation. Cumulative foreign direct investment, negligible before 1978, reached nearly US$100 billion in 1994; annual inflows increased from less than 1 percent of total fixed investment in 1979 to 18 percent in 1994. This foreign money has built factories, created jobs, linked China to international markets, and led to important transfers of technology. These trends are especially apparent in the more than one dozen open coastal areas where foreign investors enjoy tax advantages. In addition, economic liberalization has boosted exports--which rose 19 percent a year during 1981-94. Strong export growth, in turn, appears to have fueled productivity growth in domestic industries.