Chinese Ambassador to Thailand Han Zhiqiang says the steady development of China's economy has injected precious positive energy into the world economy during its difficulties.
Mr Han was delivering a keynote speech at a ceremony held at Assumption University of Thailand to mark the opening of its new AU-TUST Joint Research Institute for Modern Biological and Medical Technology in conjunction with China's Tianjin University of Science and Technology (TUST).
In the speech, titled "Developing at a Steady Pace in Complex and Severe International Circumstances", Mr Han gave his thoughts on the state of the global economy.
Last year, China's GDP was US$17.7 trillion, which amounted to 18% of the global total and 26.6% of its economic growth. China has held this position as largest contributor for 15 consecutive years, he said.
He said China's GDP increased by 2.3% in 2020, making it the only country among the world's major economies to achieve positive growth. In 2021, China's GDP grew by 8.1%, making it one of the fastest growing countries in the world. China's growth rate for 2022 is expected to be 5.5%.
In the first half of this year, China's economic activities were greatly affected due to continuing infections.
However, since June, the economy has started to stabilise and recover, he said.
China's economy is characterised by its industrial scale, huge domestic demand, resilience and potential. The Chinese economy will maintain its considerable momentum in the coming years, Mr Han said.
