On the 27th local time, the United Nations Conference on Trade and Development (UNCTAD) published a commentary pointing out that China's economic development may be one of the most unprecedented stories in modern history. Over the past 25 years, China's economy has developed rapidly, more people have been lifted out of poverty than anywhere else in the world, and China has gone from being a marginal member of world trade to a global trading giant. The article points out that in the late 1970s, China began a series of reforms to upgrade its economy and open up to the world, when China accounted for less than 1% of global trade. Later, China's share of global trade gradually increased, and after joining the WTO in 2001, China unleashed its potential as a manufacturing power, and its exports increased significantly. By 2010, China was the undisputed export champion.

China has played a growing role in the global production system over the past two decades, including most industries such as precision instruments, industrial machinery, computers and smartphones, according to UNCTAD. The COVID-19 pandemic is further proof of China's key role in the global economy. China has not only quickly resumed exports from the epidemic, but also made further growth in a number of export areas. In 2020, China's share of global trade further increased to nearly 15%. China's trade has recovered impressively in 2021, with exports rising nearly 50 per cent year-on-year to about $710 billion in the first quarter of this year, up 27 per cent from the first quarter of 2019.