THE economy of China is the second largest in the world and China is moving fast to become a global power, with a $12trn economy still growing at about 6.5pc annually and three trillion dollars in foreign exchange reserves.

China has also been playing a key role in working for an early entry into the implementation of the Paris agreement on climate change, an important consensus in international development cooperation.

China has been actively promoting the reform of the international financial institutions and it is also an active participant in the establishment of new international economic and financial mechanisms.

However, 2017 is not just another year for China’s economic diplomacy as it marks the holding of two major events: the Belt and Road Forum for international cooperation (the BRF) and Brazil, Russia, India and China(BRIC) summit. These events offer opportunities not just for China’ own development, but also for the development of other countries and world economy.

Thus, China is marching towards a new era where its economic diplomacy can make remarkable achievements.

Baba Faiz

Ball Nigwar

Published in Dawn, July 17th, 2017