China's new normal a great opportunity to deepen China-Argentina cooperation: Ambassador

BUENOS AIRES - China's new normal of economic development presents a "great opportunity to deepen and expand cooperation" with Argentina, Chinese Ambassador in Buenos Aires Yang Wanming said here Tuesday.

"Over the past five years, China's integration with the world has reached a new level. China is building new international ties, focused on cooperation towards shared gains," Yang said at a reception marking the upcoming 68th anniversary of the founding of the People's Republic of China, which falls on Sunday.

The reception was attended by Argentina's Minister of Environment and Sustainable Development Sergio Bergman, ruling party lawmaker Eduardo Amadeo and other officials.

"Since 2012, the deepening of China's reform (process) has been taken to a new level, following the guideline for the supply-side reform," said Yang.

"We are promoting development driven by innovation, speeding up the modernization and transformation of the economy, and strengthening the internal force for development, thanks to which, over the past five years, China has become the leading engine of the global economy, with an average annual contribution to global growth of more than 30 percent," Yang said.

In the first half of 2017, China's economy grew at a rate of 6.7 percent, "accompanied by the emergence of a great number of new technologies and industries, and with consumption as the main driver of growth," said the ambassador.

That implies "changes that reflect the notable improvement in the quality of China's economy, which helps lay a solid foundation for long-term sustainable development," said Yang.

Opportunities for both nations lie in coordinating their development strategies and boosting friendly exchanges in a number of areas, Yang added.

"Ties between Argentina and China are at an excellent moment: China keeps growing, opening up to the world, and radiating its power throughout the globe, while Argentina is embarking on a new path," Amadeo told Xinhua.

The lawmaker, who is also head of the lower chamber's Finance Committee, highlighted the "political decision of Presidents Xi Jinping and (Mauricio) Macri to bring China and Argentina closer together."

"President Macri's visit to China was historic, so we hope this relationship grows steadily stronger in the areas of economy, culture and sports, for the benefit of both countries," said Amadeo.

China is Argentina's leading agricultural trade partner, its second-biggest trade partner overall, only after neighboring Brazil, and its third-largest foreign investor.

In 2016, bilateral trade reached $12.32 billion, just two years after agreeing to raise bilateral ties to the level of a comprehensive strategic partnership.