By He Jianwu, Department of Development Strategy and Regional Economy, Development Research Center of the State Council (DRC)

Research Report No 115, 2014 (Total 4614)

Summary:

As China increasingly integrates into the international economy, it has driven the economic development of other countries and regions in the world and has also seen its own development grow. The research in this report works to expose the influence of China's economic development from the qualitative and quantitative perspectives and from supply and demand. The result shows that China's economic growth contribution to world economic growth is getting bigger and bigger.

Over the past three decades, China's contribution to global economic growth reached 13.5 percent on average and accounted for 40 percent of the total of developing countries. China even became the largest contributor to the global economic increment in place of the US after the financial crisis. The development of China has a strong positive overflow effect to other countries and regions, contributing 1.07 percent of the GDP to developed economies and 1.56 percent to developing economies. It has become the third contributor promoting foreign economies across the world after the US and Germany. Countries that see the greater impact of China's economic growth include China's major importers and exporters such as the US, Japan, South Korea, and Germany, and the ASEAN countries adjacent to China.