Chinese FM says structural change in Chinese economy creates potential for trade ties

Updated 2018-01-25 14:25:00 Xinhua

Chinese Foreign Minister Wang Yi has said the Chinese economy has undergone a structural shift which would result in more global trade opportunities.

Addressing an economic and trade cooperation forum between Chinese and Latin American entrepreneurs held in Santiago on Tuesday, Wang said China will always show a positive and constructive attitude towards solving new issues brought about by the development of the market.

He said China will promote economic and trade ties with other countries in the world through more cooperation.

The structure of the Chinese economy, the top diplomat said, has been optimized and upgraded, with domestic consumption becoming the main driver for growth. Domestic consumption has contributed to over 65 percent of the country's overall economic growth in 2017.

The structural shift will provide greater potential for closer trade ties between China and the world, the foreign minister said.

Wang recommended that entrepreneurs read the report delivered by Chinese President Xi Jinping at the 19th National Congress of the Communist Party of China (CPC) on Oct. 18, 2017, for it is both the guideline for the CPC and the most authoritative "textbook" on China.

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