China's contribution to world economic growth has stabilized at the first place.

Since the beginning of this year, China's economy has made a smooth start amid pressure challenges, with continued robust consumption and a steady rebound in investment growth, highlighting the role and significance of a strong domestic market in economic operation. The accelerated release of the potential of China's large market will not only add momentum to China's economic development, but also bring more dividends to the global economy in the process of further deepening the integration between China and the world.

Consumption has become the main engine of China's economy. In the first quarter of this year, final consumption expenditure contributed 65.1 percent to economic growth, and consumer demand continues to be the leading force driving economic growth.

In the first quarter, total retail sales of consumer goods nationwide amounted to 9,779 billion yuan, up 8.3 percent year-on-year. James Lawrenson, an economist and deputy director of the Australia-China Relations Institute at the University of Technology Sydney in Australia, said China's retail sector was "booming with outstanding performance".

Strong domestic demand has a positive spillover effect. U.S. economist David Goldman noted that at the beginning of this year, almost all of China's Asian trading partners increased exports to China. That momentum has continued, with China's trade in goods import and export totaling 2.51 trillion yuan in April, up 6.5 percent, including imports of 1.21 trillion yuan, up 10.3 percent.

In addition to consumption of goods, consumption of services such as tourism, leisure, catering, culture and sports also showed highlights. In the first quarter, service consumption accounted for 47.7 percent of all residents' final consumption expenditure, up 1.4 percentage points from a year earlier.

2019 marks the 70th anniversary of the founding of New China and is a crucial year for winning the first 100-year goal of building a moderately prosperous society in all aspects. In such a critical year, the international community is looking forward to reading from the two sessions the inner logic of China's development with the world***, and exploring the confidence and inspiration in cracking the era's problems from Chinese ideas and wisdom.

Currently, the global economy is under pressure to go downward. The World Bank believes that the world economy may embark on a period of low growth and high systemic risk mileage from 2019. The International Monetary Fund has also recently downgraded global economic growth expectations for this year and next year. In the new year, development issues will undoubtedly remain a hotspot of general concern in the world.

Faced with the challenges of steady changes, China's economy in 2018 has delivered a report card that is generally stable and steady progress. Economic data recently released by China's National Bureau of Statistics (NBS) showed that in 2018, China's total economic output exceeded 90 trillion yuan for the first time, up 6.6 percent from the previous year, with the growth rate topping the world's top five economies.

China's economic data triggered widespread concern among foreign media, who believe that China's economic trend is stable, with domestic demand and innovation-driven continuous growth, full development momentum, and its positive impact on the world is still increasing.

"China has become an innovative economic power, and its high-tech manufacturing industry maintains high speed." Citing the 2018 Global Innovation Index report released by the World Intellectual Property Organization, the Greek newspaper Kommersant said China is among the top 20 most innovative economies in the world.

Innovation's leading role in China's development has increased, new business forms and new models have flourished, and new technologies such as digital consumption, e-commerce, modernized supply chains and Internet finance have integrated with each other, effectively driving the development of the platform economy, the ****sharing economy and the smart economy.

China's economy is steadily moving from a stage of high-speed growth to a stage of high-quality development, with supply-side structural reforms being pushed forward and the quality of economic development continuing to improve. Despite the complex and severe external environment, China's economy has maintained a rare sustained and healthy development, the Lianhe Zaobao said.

China's industrial structure continues to upgrade, and the demand structure is adjusted and optimized. "In China during the transition and adjustment period, old production capacity is being withdrawn and new capacity is being formed, allowing the market to see the light." The Reuters report said.

Italy's Invest Today website said China's economy has released a positive signal that services and consumption are playing an increasingly important role in economic growth. The Chinese economy is full of new opportunities as Chinese companies in the fields of electronics and communications, the Internet, and pharmaceuticals increase their investment in research and development and focus more on sustainable long-term development.

The United Nations recently released a report on World Economic Situation and Prospects 2019, which noted that China's sector-wide optimization and upgrading of its economic structure will play a positive role in the Asia-Pacific region's economic growth, import-export trade and wealth increase.

In the past year, China's economy contributed nearly 30 percent to world economic growth, continuing to be the largest contributor to world economic growth. According to the Greek newspaper La Stampa, China's economy has maintained stable growth, providing a strong impetus for the world economy.

People's Daily Online - Foreign media watching China: 2019, the world is optimistic about China's economy