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In Davos, All Eyes on China

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Even after the world's political and business leaders concluded their five-day gathering at the World Economic Forum (WEF) in the Swiss ski resort on Sunday, China remained the focus of their attention.

Though the "China fever" has continued for years, the word "China" was once again the most eye-catching one at the annual WEF meeting.

China's increasingly active role

This year marked the 40th anniversary of the WEF annual meeting, which drew more than 2,500 leading figures from political, business and academic circles around the world.

The five-day gathering was filled with more than 270 working sessions under the organizing theme of "Improve the State of the World: Rethink, Redesign, Rebuild."

During the discussions, "China" was the word which participants mentioned most frequently among a series of topics, ranging from the world economic recovery after the financial crisis, the global fight against climate change, the international financial reform, to better global governance.

Compared with previous meetings, the focus of this meeting was no longer on the rise of China, but went further on what impact China's every move would have on the world.

To this end, there were two sessions specifically designed for China this year, with the first one on how China-US relations will reshape the global agenda and the other on the global dimensions of China's economic transition.

Two years ago the voices from China were largely absent in Davos despite the "China fever," but this year Chinese participants were more actively involved. They were increasingly confident to voice their views.

The most prominent figure among them was Chinese Vice Premier Li Keqiang, who delivered a special address on Thursday afternoon.

Other big names included former vice-chairman of the Standing Committee of the National People's Congress Cheng Siwei, vice president of People's Bank of China Zhu Min, and China Mobile CEO Wang Jianzhou.

Source of confidence for wolrd economy

The WEF annual meeting was held against the backdrop that the global economy was recovering from its worst recession since World War II. Therefore, whether the recovery, being fragile, could be sustainable in the post-crisis era became a central issue.

As the world's fastest growing economy, China has been the major contributor to the global economic growth in recent years. Its economic outlook means a lot to the global recovery.

Figures showed as of 2008, China's contribution to the world's economic growth had reached 20 percent, while in 2009 when developed countries plunged into an economic crisis, nearly half of global growth could be attributed to China.

Although some participants voiced their concern about an overheated economy in China, Vice Premier Li struck a note of confidence in Davos.

In the post-crisis era, China will realize long-term stable and rapid economic development by boosting domestic demand, promoting industrial restructuring and upgrading, and by deepening reform and opening wider to the world, Li said.

At the previous WEF annual meeting in 2009, Chinese Premier Wen Jiabao voiced China's determination to overcome the international financial crisis, bringing the same confidence to the world economy at a critical time when the crisis was deepening.

As promised by Wen, China managed to maintain an economic growth of 8.7 percent in 2009 despite the international financial crisis, while the world economy as a whole declined by 0.8 percent.

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