Experts on global impact of China's Two Sessions

CNC
Added On March 22, 2019

China's annual Two Sessions have always been an important opportunity for the international community to observe where the world's second largest economy is heading. This year is certainly no exception.

 
This year, further opening-up to foreign investment and high-quality growth have become the buzzwords attracting the attention of experts around the world.
 
China's national legislature on Friday passed the foreign investment law, a landmark legislation that will provide stronger protection and a better business environment for overseas investors.
 
SOUNDBITE (English): BERNARD DEWIT, Belgian-Chinese Chamber of Commerce
 
"I think the new law can reassure the West about the will of the Chinese government to keep the borders open, to keep welcoming foreign investors."
 
SOUNDBITE (Eng): HANS HENDRISCHKE, University of Sydney
 
"It’s a very important piece of legislation that people have been waiting for for a long time because it will change the working environment for foreign investors in China.So economically speaking, business wise, it’s of global importance."
 
 
SOUNDBITE (English): STEPHEN NDEGWA, US Int'l University Africa
 
"China is going to be even more robust in the coming years as this new laws take effects and create one big conducive environment for people to do business both domestic companies and foreign firms based in China."
 
In this year's government work report, China has set its GDP growth target for 2019 at 6-6.5 percent, and vows to promote high-quality and sustainable growth.
 
SOUNDBITE (English): WICHAI KINCHONG CHOI, Kasikorn Thai Bank
 
"Of course Chinese government makes the growth more sustainable. And speed is not the major issue. I think the most important thing is the quality of the growth.We believe the balance growth should be more sustainable in the future."
 
SOUNDBITE (Eng): HANS HENDRISCHKE, University of Sydney
 
"It’s not that China is being pushed to a lower growth rate, China wanted a lower growth rate -- so I think that is, that looks like a fairly controlled process and it does make sense and it was seen coming in a way that I think is no surprise to any observer that growth rate would go down at a slow level."
 
SOUNDBITE (English): STEPHEN NDEGWA, US Int'l University Africa
 
"So I think that standardization of quality is quite a positive development and we expect that we are going to be buying more Chinese products whether it is in the auto mobile, textile, consumer goods I think the fact that they have committed themselves to developing quality means that they are going to entrench themselves even more across the global market."
 
Paying close attention to the meeting, experts say the decisions taken during the 'Two Sessions' in Beijing have an impact not only domestically, but also at an international level.
 
SOUNDBITE (English): STEPHEN NDEGWA, US Int'l University Africa
 
"For me I think that the green economy is one aspect we need to give China credit for and hope that we can also learn lessons or the rest of the world really can learn lessons from this development."
 
SOUNDBITE (English): DUNCAN FREEMAN, College of Europe in Bruges
 
"China's opening up and reforms have been extremely important for the global economy for the past 40 years. And it is even more so today when China has a very big economy. So the decisions taken during the 'two sessions' will be very important. They'll have an impact not just in China itself but also outside of China. So how China moves forward will be extremely important."
 
SOUNDBITE (Arabic): EMAD ALAZRAK, Egyptian-Chinese Dialogue Forum
 
"I think China has really had large success in achieving its goals and sharing its visions with the international community. From what I observe, the world, especially the developing countries, is welcoming and supporting China."
 
SOUNDBITE (Vietnamese): DO TIEN SAM, Vietnamese Expert
 
"Vietnam can draw on China's experience. Vietnam also needs to seek high-quality development instead of just focusing on the growth rate."
 
SOUNDBITE (English): GERISHON IKIARA, University of Nairobi
 
"As I told you, China today plays a very major role globally, in trade, in flow of resources, particularly in the developing countries. China has become a very close partner to many many developing countries, particularly in Africa, and actually even within Asia and Latin America."