Overview Of China’s Economy
China’s economy appears stable and is expected to stay that way throughout 2017, unless a host of problems lurking below the surface upends that scenario, such as a depreciating Yen and withering reserve blankets.
However, China has recently unseated North America as the global investment leader in financial technology, or “fintech,” according to Citigroup’s on digital disruption.
Furthermore, to counter your statement against China’s claims to technological advancements for the future, it’s been noted that as 2017 begins, China is poised to leap ahead of the U.S. on clean energy to become the most important player in the global market. Last year, China increased its foreign investment in renewables by 60 percent to reach a record $32 billion, according to from the Institute for Energy Economics and Financial Analysis. This includes 11 new overseas investment deals worth more than $1 billion each. (Check infographic)
Note: APAC shows a proportion of China’s growing claim in new investments in Clean energy, which is expected to grow in 2017.
China’s new Going Global strategy for renewable energy was an important instigator of its huge increase in foreign investment in 2016. This is part of a broader picture of overseas investment. Last year, China showed its regional strength by establishing the Asia Infrastructure & Investment Bank and which made its first loans, all for renewable energy.
Although they have seen nearly $1 trillion in reserve pool losses since 2014, this can mainly be attributed to foreign investment, infrastructure projects, and the emergence of massive solar enterprises, which will soon see China leading the world in renewable energy production; needless to say, they have secured financial stability at least for the foreseeable future.
Notable Chinese Investments
China made headlines in 2016 when they stated that they will invest (£292bn) into renewable power generation by 2020, the country’s energy agency has said, as the world’s largest energy market continues to shift away from dirty coal power towards cleaner fuels.
The investment will create more than 13million jobs in the sector, the National Energy Administration said in a blueprint document that lays out its plan to develop the nation’s energy sector during the five-year 2016 to 2020 period.
The NEA said installed renewable power capacity including wind, hydro, solar and nuclear power would contribute to about half of new electricity generation by 2020. These investments in renewable energies will cement China’s economic standing for decades to come.