JAKARTA - The prospects for China's economic growth are considered to remain strong amid geopolitical pressures and energy crises. A number of economists at the Boao Forum for Asia 2026 said the country's economic growth will still be an important support for the region and the world.
China Daily quoted Wednesday, March 25, reported that the former chief economist of the World Bank, Justin Yifu Lin, said China was on track to achieve its 2026 GDP growth target in the range of 4.5 to 5 percent. If achieved, its contribution to global growth is estimated to be around 30 percent.
Lin said China's economic growth could even exceed 5 percent this year if policy implementation goes better and there are no major shocks from the international environment.
According to Lin, China's growth strength is supported by progress in new technology sectors, such as artificial intelligence and quantum computing, the availability of a large number of talents, a vast domestic market, and a combination of market roles and government support.
A similar view was expressed by Zheng Yongnian from the Chinese University of Hong Kong, Shenzhen. He assessed China's role in stabilizing the global economy was also supported by policy direction certainty through the 15th Five-Year Plan for the period 2026-2030.
The plan reaffirms China's goal of becoming a middle-income country by 2035. With this target, China is considered to be on track to maintain annual growth in the range of 4.5 to 5 percent until 2035.
Italian economist Michele Geraci, still reported by China Daily, said the plan also gave clearer direction for foreign investors. According to him, China's efforts to strengthen independence in the energy, food, and technology sectors do not mean that the country is closing itself off. China, he said, remains committed to open trade.
The Boao Forum for Asia's main report also said that China and ASEAN remained the mainstay of regional stability. China plays an important role in the Asian value chain, while ASEAN's economic dependence on China continues to increase. China and ASEAN countries are also considered the most attractive investment destinations in Asia.
Amid this optimism, Jiang Xiaojuan reminded that the use of AI cannot be completely detached from the market mechanism. According to him, the use of AI that only replaces labor without improving the quality of development and sustainability needs to be approached carefully because it risks adding pressure on employment.
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