China's Steady Economic Recovery Boosts Global Expectations for Future Growth(3)

Vehicles under production are transferred through the office area at the Tiexi Plant of BMW Brilliance Automotive (BBA) in Shenyang, northeast China's Liaoning Province, Feb. 16, 2022. (Xinhua/Yang Qing)

STILL AN ENGINE OF GLOBAL GROWTH

Amid a gloomy global economic landscape where some major economies have been beset by ballooning inflation unseen in decades, if not an imminent recession, China's recovery from a sling of challenges is timely.

Hartung said global challenges cannot be met without China, stressing that China and the rest of the world need each other.

"Given the centrality of China in the regional production networks ... it could do a tremendous amount in terms of trying to move the region towards a more sustainable basis for production in the economy," Suthiwartnarueput said.

"The Chinese economy is the growth engine of the world economy," Elsner said, who attributed his confidence in the economy to the country's adherence to reform and opening-up.

A worker operates on the production line at a textile company in Nanmo Township of Hai'an City, east China's Jiangsu Province, Feb. 28, 2022. (Photo by Zhai Huiyong/Xinhua)

This was echoed by Agustin Carstens, general manager of the oldest international financial institution, the Bank for International Settlements, who said that China's resilient economy continues to be an engine of global growth.

Economists and experts say China has been sharing its development dividend with the rest of the world.

Joseph Matthews, a senior professor at the BELTEI International University in Phnom Penh, Cambodia, said China contributes to the world's economic development through multilateral frameworks.

China has a relatively modern economic system, first-class infrastructure and competent labor resources, said Anna Malindog-Uy, a researcher of Philippine-BRICS Strategic Studies, adding that "the stronger China's economic development is, the more countries that have trade and economic cooperation with China will benefit."