Investment power
Growing wealth also enables China to pursue its comprehensive global strategy. China has spent the last decade tactically investing around the world.
According to the Ministry of Commerce (MOFCOM), China's outbound direct investment (ODI) increased nearly 40 times over the past decade, from $2.7 billion in 2002 to $107.8 billion in 2013.
In the first seven months of this year, ODI from the Chinese mainland totaled $63.5 billion, surging 20.8 percent year on year, according to the MOFCOM.
"ODI growth will remain at a relatively high level throughout the year, probably at 10-15 percent or even higher," MOFCOM spokesman Shen Danyang forecasted.
Statistics also showed that direct investment stock from China to Africa jumped to $21.23 billion in 2012 from $9.33 billion in 2009, helping the continent build desperately needed roads, rails, and ports.
In Latin America, China has already pledged to invest $250 billion over the coming decade.
China also wants to use its money to improve infrastructural conditions in Asia. To that end, the country has launched the Asian Infrastructure Investment Bank. Given that 57 countries have signed up as founding members, the bank is on its way to reshape the world's financial architecture.
Ding Yifan, a senior researcher with the Development Research Center of the State Council, said outbound investment is one of the biggest contributions from China to global growth.
China has been one of the major capital exporters over the past decade, greatly improving people's lives in countries, including those in the African continent and Southeast Asia, Ding said.
Economic Deployments for the Second Half of 2015
- Paying high attention to downward pressure and the prevention and relief of systematic risks
- Maintaining a proactive fiscal policy to alleviate the burdens of businesses and giving more room to the utilization of private capital
- Keeping the prudent monetary policy and maintaining a reasonable level of liquidity to serve the real economy;
- Pushing forward economic restructuring through reforms, especially the reforms on state-owned enterprises, fiscal and financial systems
- Improving living standards, especially basic living standards of the low-income, unemployed and disabled individuals
