Chinese economy assuring in global uncertainty(2)

These figures have sent out a strong message that China's unfolding economic restructuring, aimed at reducing its over-reliance on exports to fuel the growth, has yielded some desirable results in 2011, the first year of China's 12th Five-Year Plan.

Around the world, at the stroke of midnight, many might approach the Chinese lunar year of Dragon with more uneasiness than joy. Stock markets are in a funk. The eurozone is in danger of disintegration. Jobless rate is stubbornly high in the United States. Much of the rest world is struggling to avoid the collateral damage from sluggish economic growth in the developed world.

Under such circumstances, the painful yet relatively smooth restructuring of the Chinese economy could prove to be good news not only to China, but also to the world.

If the strong domestic demand can take hold for years to come, it will not only beef up China's abilities to defend the protracted global financial crisis, but also give a boost to the world economy.

That's because a consumer-led China would be likelier to buy more of products and services from all corners of the world, which will support jobs and uplifting economies both at home and abroad..

Meanwhile, a huge Chinese market, with its 1.3 billion people, means more exports and investment opportunities for other countries, thus helping them offsetting a dwindling demand from the West.

China, with the spirits of the Chinese dragon, is ready to work with the rest of the world and show more courage to bid farewell to the beaten path so as to pull through the current economic downturn.