Ambassador pledges economic support
PUBLISHED : 28 Oct 2024 at 04:54
China’s Ambassador to Thailand has insisted China will support Thailand’s economy, including Thailand’s hope to join membership of Brics, a league of countries that includes Brazil, Russia, India, China and South Africa.
The ambassador, Han Zhiqiang, delivered remarks on “China’s Economy from a New Perspective”, an event held recently in Bangkok by the Thai Journalists Association and the Chinese Embassy.
Mr Han said China has a unique socialist system which differs from Western welfare socialism or the former Soviet model.
China’s system integrates traditional Chinese culture with a market-driven economy, creating a governance style that is both similar to and different from that of other nations.
In recent years, China has faced economic challenges like many other countries.
To support economic growth, its government has implemented key measures, including central bank policies to lower interest rates and reduce banks’ reserve requirement ratio (RRR).
Mr Han also said additional measures have been taken to ease local government burdens, each aligning with economic stimulus goals.
Despite Western media having predicted China’s economic collapse within four decades, Mr Han said China remained optimistic about its economic outlook due to its status as the world’s largest manufacturing country and its vast consumer market.
The current set of economic goals extends until 2050, he said.
Regarding Thailand-China relations, Mr Han described Thailand as a close partner and hoped that China’s economic growth would benefit Thailand’s economy.
The Chinese merchandise that might affect small Thai businesses as competitors accounts for only a tiny portion of total market value, he said. Conversely, China’s industrial goods have created many jobs and a strong supply chain in Thailand.
The Chinese ambassador also expressed his concern about the illegal activities of certain Chinese in Thailand, reiterated that China would beef up its surveillance, and said the actions of a few groups of people should not be generalised to affect bilateral relations.
In 2025, Thailand and China will celebrate the 50th anniversary of their diplomatic ties, a significant milestone that the ambassador hopes will lead to even greater collaboration between the nations.
He said China is delighted to work on trade compliance issues, especially those related to Chinese goods saturating Thai markets.
He also said China will lend its support as Thailand looks to complete its membership journey.