XinhuaCommentary:"NextChina"toovershadow"PeakChina"inunfoldingreality_GuangmingOnlineBEIJING,Feb.24(Xinhua)--China,amidevolvingdemographicsandvariedsectorperformances,isconfrontingachangingeconomicterrain.Yet,itscommitmentandreadinesstoharnesstheseshiftsforsustainedlong-termgrowthremainclear.Thisnuancedsituationhascaptivatedglobaldiscourse,withopinionspolarizedoverthetrajectoryofChina'seconomicascent.Criticsciteanagingpopulationandotherchallengesassignsofaplateau,whileproponentsof"the'NextChina'isstillChina"argueforChina'senduringallureasaprimeinvestmenthub.Thenarrativeof"PeakChina"focusesnarrowlyondecliningmetricssuchastheheadlineGDPgrowthrate,overlookingtheenhancedqualityandeconomicmomentumunderlyingChina'semerginggrowthdrivers.China'seraofdouble-digitGDPgrowthmayhavepassed,yetthisdoesnotsignifyanendtoitseconomicsaga.Rather,thenationistransitioningtoamodelofhigh-qualitydevelopment,aimingtoshiftoverabillionpeopleintomodernity--apotentialhistoricfeat.Thecountry'spotentialeconomicgrowthrateforecast,enviedbymajoreconomies,rangesbetween5and6percent.China's5.2-percentGDPgrowthin2023translatedintoaneconomicincreaseexceeding6trillionyuan(about844.31billionU.S.dollars),equivalenttotheannualoutputofamid-sizedcountry.TheChinesegovernmenthaspinpointednewlevers,suchasstimulatingconsumptionandexpandingeffectiveinvestment,toactualizetheoreticalgrowth.China'spastrelianceonexport-drivengrowth,fueledbyabundant"cheaplabor,"isyieldingtoaconsumer-driveneconomy,thankstorisingpublicaffluence.Thisismadeevidentbyrecord-breakingSpringFestivalholidayspendingontravelandtheboxoffice.Thecountry'sburgeoningmiddle-incomegroup,projectedtoswellby300millionoverthenextdecade,andtheurbanizationofruralmigrants,combinetorepresentsignificantconsumerpotentialyettobeunleashed.InvestmentopportunitiesinChinaalsoremainvast,particularlyinfuture-orientedsectors.Thecountryisinvestingheavilytofoster"newproductiveforces,"akeyengineforChina'snewgrowthmodelthathasbeenquotedasadevelopmentprioritybymanyprovincial-levelregionsintheirgovernmentworkreportsforthisyear.In2022,theaddedvalueofstrategicemergingindustriessuchasnew-generationinformationtechnologyaccountedformorethan13percentofChina'sGDP.Chinaplanstoliftthisproportiontoover17percentbytheendof2025,whileitaimsformajortechnologicaladvancementsinthesesectorsby2027.China'sleadershipingreeninfrastructure,energy,andtransportationisnotable,withthecountryproducingsubstantialportionsoftheworld'sphotovoltaicpowerandnewenergyvehicles.Thesesectorsaloneareexpectedtogenerateanannualmarketvalueof10trillionyuan.Chinaiswell-equippedtotapitsvastconsumptionandinvestmentmarketsthankstothrivinginnovationandentrepreneurshipacrossthecountry.Hometoabout40percentoftheworld's"lighthousefactories"andthesecond-largestnumberofunicornfirms,Chinaalsoboaststheworld'slargest5Gnetworkandrankssecondgloballyintermsofcomputingpower.ThistechnologicalprowesswillkeepboostingtheautomationandproductivityofChineseindustries.AttheheartofChina'sgrowthpotentialareitsindustriousandskilledpeople.ThetransitionofdemographicdividendtotalentdividendistangibleinChina,withover240millionpeople,including42millionengineeringprofessionals,havingreceivedhighereducation--afiguresurpassingthecombinedsuchpopulationsofGermanyandJapan.InthelatestsurveybytheGermanChamberofCommerceinChina,some40percentofthesurveyedGermanfirmsoperatinginthecountrysaidthatChina'sattractivenessasaninnovationmarketwasincreasing.NearlyhalfofthemforeseeChinesecounterpartsbecominginnovationleadersintheirindustrywithinthenextfiveyears.Whileskepticsremain,rationalinvestorscannotignoretheopportunitiespresentedbyChina'sevolvingeconomiclandscape.Tooverlookthepotentialof"NextChina"couldproveacostlymisjudgment.■Editor:DisclaimerTheviewsandopinionsexpressedinthisarticlearethoseoftheauthor's,GMW.cnmakesnorepresentationsastoaccuracy,suitability,orvalidityofanyinformationonthissiteandwillnotbeliableforanyerrors,omissions,ordelaysinthisinformation.