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With implementation of innovative fiscal and monetary policies, and advancement in technological innovation, China's economy is expected to sustain an upward trajectory this year, analysts have said. China's economy beat market expectations to advance 6.4 percent year on year in the first quarter, according to data from the National Bureau of Statistics. "This performance was achieved through the government's expansionary policy measures aimed at maintaining the country's development trajectory and minimizing negative impact of external factors," said Gerrishon Ikiara, senior economics lecturer at the University of Nairobi. Apart from fiscal policies, other factors, including advancement in technology and implementation of green technology in firms, also help boost the Chinese economy, said Eric Mang'unyi, a researcher with Walter Sisulu University in South Africa. "These continuous innovations in factories and service activities systematically play a crucial role in boosting the growth," said Mang'unyi. In a recent interview with Xinhua, Mang'unyi said he also noticed that China is taking advantage of its large population to boost domestic demand for goods and services. Macharia Munene, professor of history and international relations at the United States International University-Africa, said with the Chinese economy getting off to a good start this year, the rest of the world feels secure and will want more trade with China. |
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