BEIJING, Oct. 2 (Xinhua) -- China's economy is well-positioned to maintain its positive growth trajectory, supported by its strong workforce and vibrant enterprises, said Albert Park, chief economist of the Asian Development Bank (ADB), in a recent interview with Xinhua.
"The Chinese economy has tremendous capabilities in terms of the abilities of the workforce, the ability of its leading firms and the ability of many enterprises around the country," said Park while attending the East Asia Forum 2025 and Talk China Seminar in Beijing. He expressed confidence in the resilience of China's economy, though it is facing some challenges.
Park welcomed the Chinese government's recent incremental policies aimed at stimulating the economy. "The government's emphasis on boosting consumption in the economy is a really good signal," he said, adding that it's important to "keep pushing forward in that direction."
He highlighted that measures such as redistributing resources to low-income households and strengthening social protection programs can not only spur consumption but also build a more robust social safety net.
The economist also pointed to a notable rebound in investor sentiment toward Chinese equities, attributing it to China's recognized technological leadership in digitalization and artificial intelligence (AI), as well as greater confidence that the U.S.-China relationship will become more stable and better managed.
"Reduced geopolitical uncertainty may be encouraging more investment into China, which still is an economy that is growing at a decent pace," he said.
At the seminar, themed "Harnessing AI to Promote High-Quality Development," Park praised China's "AI Plus" initiative for its potential to deeply integrate AI across society and drive economic growth.
"China possesses a whole ecosystem for AI's development," he said, adding that the country is obviously a global leader in the AI field in terms of semiconductor production value chain, data centers, and large language models.
Park also underscored China's active role in shaping global AI governance frameworks and promoting international cooperation.
Citing an ADB report released in May titled "Harnessing Digital Transformation for Good," he emphasized that AI will bring tremendous opportunities for low-income countries, and urged efforts to strengthen good digital infrastructure and workforce training on digital skills.
"The ADB is really focusing on that front to help developing countries throughout Asia realize opportunities brought about by AI," he added. Enditem
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