China to advance sustainable development

UNITED NATIONS - Chinese Foreign Minister Wang Yi said here Friday that China will remain committed to reform, opening up and sustainable development.

"We are vigorously advancing reform and opening up, deepening economic structural adjustment, and accelerating the shift of growth model," Wang told the UN General Assembly (UNGA) during its annual general debate, which entered its fourth day here Friday.

"In pursuit of progress while maintaining stability, the Chinese government has taken a macro-economic policy that addresses both immediate and long-term needs and adopted a series of innovative policy measures with a view to ensuring steady growth, adjusting economic structure and promoting reform," he said.

Five years after the outbreak of the international financial crisis, Wang noted, the root causes of the crisis are yet to be removed, and the structural problems of developed countries remain unresolved.  

According to the foreign minister, both the fundamentals and overall performance of China's economy are sound, and China's development prospects are bright.

"The leading indicators of the Chinese economy are generally good, and China leads the major economies in growth rate," he added.  

As China grows in economic output and changes its growth model, Wang said, its economy has entered a phase of high-to-medium growth rate.

"This is dictated by the law of economics, and it will ensure sustained and healthy growth of the Chinese economy," he stressed.