Ambassador Hu Zhangliang said China will celebrate its 70th National Day and believes they have achieved a lot due to hard work, peace and security. He said china is coming from a long road that was very challenging, but easy to overcome as they worked hard, with commitment and passion to build the China that is now the second largest economy in the world. “China undertook a difficult transition in order to reach the heights of economic development. The transition involves coming to terms with the loss of the economic advantages. Macroeconomically the economy encouraged to a more services orientation serving the needs of the domestic population. Expensive labour, real estate and capital were redirected from mass production industries to the financial, health, retail, education, hospitality and recreational services industries.” Amb. Hu averred that technological advancement was obtained through encouraging experimentation and initiative. China was pretty poor when it started to reform its economy under Deng Xiao Peng. “When a large part of the population enters the middle class, our consumption boom, and that in turn has a domino effect for more downstream activities. A strong middle class is what makes the country successful because the population at large can afford to keep the wheels of industry going.”
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He said the same can’t be said of countries which depresses the middle class in favor of the rich. It boils down to maths. Market demand is decided by how many people can afford to pay and consume a product. “When you transform your economy to allow hundreds of millions to have a better life, your economy will be exponentially bigger. This is what China has done to make the country peaceful and secured.” Amb. Hu Zhangliang stressed that the Chinese government has remained committed to focusing on economic growth, and has quickly and effectively implemented good policy decisions. The country concentrates the salary paid to workers in four big state banks. This money is used by the leadership to focus on key projects. China has hosted conferences and exhibitions, all to tell foreign investors that China is the place they must invest in because the country is stable. Creation of Zones and Infrastructure for Businesses has been an important reason for China being a successful economy. “China has a Strong Manufacturing Base. There’s a reason why everything is “Made in China.” The country has positioned itself as a manufacturing hub, in turn providing employment to its people. The country has made good advancement in technology which promises good product quality.” He said that the relationship between China and Africa has grown so much that many African countries have developed because of China’s support. He called on all to work with China to build a harmonious world that is peaceful and secured.
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