China’s Commitment to Reform and Opening-Up: A New Historical Period

From July 15 to 18, 2024, the third plenary session of the 20th Central Committee of the Communist Party of China (CPC) was successfully held in Beijing. This meeting marked a critical period in promoting the great cause of building a strong and national country revival.

Reform and opening up is a strategy that ensures China can catch up significantly, and it is an inevitable path for the development of socialism with Chinese characteristics. This meeting serves as an important window for the world to understand China’s high-quality development and high-level opening to the outside world.

China’s Economy: Resilient, Promising, and Dynamic

In 2024, China’s economy is sufficiently resilient, promising, and dynamic. As the world’s second-largest consumer market, China has made full use of its mega-market, developed new types of consumption, and pushed forward the transformation of traditional industries into high-end, intelligent, and green industries.

In the first half of this year, China’s GDP totaled 61.7 trillion RMB (about 7.8 trillion euros), an increase of 5% year on year. Chinese investment in high-tech industries increased by 10.6% year-on-year, and the added value of high-tech manufacturing industries increased by 8.7% year-on-year.

International Confidence in China’s Economy

The International Monetary Fund (IMF) recently revised China’s economic growth for 2024 up to 5%, in an update to its Global Economic Outlook. International banking institutions such as the World Bank, Morgan Stanley, and UBS have also revised up their economic growth forecasts for China for the same financial year.

An Open China: A Driver of Global Development and Prosperity

An open China is an important driver of global development and prosperity. In the first half of 2024, the total value of imports and exports of goods exceeded the historical peak for the first time, and amounted to 21.17 trillion yuan, an increase of 6.1% year on year.

China’s integration into the world has never been as deep as it is now. This year, China is further expanding its visa waiver policy, and more and more people are going to China for trade, tourism, or visiting friends.

China-Burkina Faso Relations: A Model of Friendly Cooperation

China and Burkina Faso have always been good strategic partners. China supports the choice of the Burkinabè people and their efforts to explore a path of development in accordance with their own aspirations.

The two countries have established fruitful practical cooperation in various fields. In 2023, the total volume of imports and exports between the two countries exceeded 590 million US dollars, maintaining a positive growth trend.

Upcoming Summit: A New Gathering of China-Africa Friendship

From September 4 to 6, 2024, the Summit of the Forum on China-Africa Cooperation (FOCAC) will be held in Beijing. China is ready to invite the Burkinabè side to participate in this important event, to share the fruits of modernization and development with Chinese characteristics.

LU Shan, Ambassador of the People’s Republic of China in Burkina Faso