The Institute of Economic Studies has opened a library section with books in Chinese

At the invitation of the Economic Research Institute at the Bulgarian Academy of Sciences, Her Excellency Dai Qingli, Ambassador of the People’s Republic of China to Bulgaria, delivered a lecture on “New political trends in the Chinese economy and prospects for China-EU and China-Bulgaria cooperation”. In parallel, Her Excellency donated 28 new titles to the newly opened library section of the Institute with books in Chinese.

Ambassador Dai Qingli’s lecture focused on the state, development and prospects of the Chinese economy, as well as on the opportunities and challenges for China-EU-Bulgaria cooperation. She pointed out that her country’s share in the global economy stood at 18% in 2023 and GDP per capita at USD 12 680, with restrictions on foreign investment in the manufacturing sector now completely removed.

Emphasis was also placed on the country’s policies and prospects for 2025, namely – stimulating consumption and expanding domestic demand as well as implementing the so-called “two new” policies – upgrading large-scale equipment and replacing consumer goods, and regulated development of the digital economy. It is about upgrading more than 5.2 million vehicles, replacing more than 49 million household appliances and upgrading 2 million obsolete equipment. The importance of the digital economy can be judged from the fact that China is the world leader in e-commerce and mobile payments, contributing 66.45% of GDP growth in recent years.

Her Excellency stressed that achieving carbon neutrality by 2030 would require new electric vehicles to reach 45 million units which is 3 times the demand in 2023.

Another interesting fact pointed out by Ambassador Dai Qingli is that private economic entities in the country reach 180.9 million or 96.4% of all registered business structures. She also drew attention to the restrictions imposed on exports to China as well as to the resilience of the country’s industrial system, its adaptability to external shocks and the great potential of the economy which is projected to grow by 5% annually.

Her Excellency’s lecture was organized by the Economic Research Institute at BAS where the Resource Center for Economic Studies of Asia was established in 2015 through which the Institute seeks to promote mutual cooperation, trade and investment with this dynamic region.

The meeting, along with the college of ERI of BAS, was also attended by representatives of SU “St. Kliment Ohridski”, the University of National and World Economy, the New Bulgarian University, the International Business School of Bulgaria, the National Academy of Art, the National Academy of Music, the Ministry of Foreign Affairs, the Ministry of Economy and Industry, the Bulgarian Diplomatic Society, the “One Belt – One Road” Association, the Bulgarian Diplomatic Institute at the Ministry of Foreign Affairs, Confucius Institute, PSS “Evlogi and Hristo Georgiev” as well as Bulgarian and Chinese students.