China Highlights Economic Growth and Global Cooperation at Colombo Seminar

2026-03-13 - 15:57

A seminar titled “Building a Community with a Shared Future for Humanity” was held on March 13, bringing together representatives from think tanks and media to discuss China’s development and its global significance. Addressing the gathering, Chinese Foreign Minister Wang Yi highlighted that China’s recently concluded “Two Sessions” marked the start of the country’s 15th Five-Year Plan (2026–2030), a key phase aimed at advancing China toward socialist modernisation by 2035. He noted that despite global challenges, China achieved major economic milestones during the 14th Five-Year Plan. China’s GDP reached 140.19 trillion yuan (about US$20.28 trillion) in 2025, maintaining an average annual growth rate of 5.4 percent and contributing around 30 percent to global economic growth. China has also recorded progress in innovation and technology, with research and development investment exceeding 3.9 trillion yuan and the country’s core artificial intelligence industry surpassing 1 trillion yuan in scale. Meanwhile, China continues to lead globally in manufacturing value added and trade in goods. The Chinese Foreign Minister also emphasised China’s progress in green development, noting that renewable energy now accounts for nearly 60 percent of the country’s total installed power capacity, while China has remained the world’s largest producer and seller of new energy vehicles for a decade. Looking ahead, the 15th Five-Year Plan focuses on high-quality growth, increased investment in research and development, expansion of the digital economy, and major infrastructure projects. Minister Wang Yi also stressed China’s commitment to multilateralism and global peace, highlighting initiatives such as the Global Development Initiative and the concept of building a community with a shared future for humanity. Referring to bilateral ties, the envoy described China and Sri Lanka as long-standing partners and members of the Global South, expressing confidence that China’s continued development would create new opportunities for cooperation and mutual benefit between the two countries.