China‘s Ambassador to Thailand, Han Zhiqiang, has reaffirmed China’s commitment to bolstering Thailand’s economy, particularly regarding its ambition to join BRICS—a coalition of emerging economies including Brazil, Russia, India, China, and South Africa.
During a recent event in Bangkok titled “China’s Economy from a New Perspective,” organized by the Thai Journalists Association and the Chinese Embassy, Ambassador Han emphasized China’s unique socialist system. He explained that it diverges from Western welfare socialism and the former Soviet model, integrating traditional Chinese culture with a market-driven approach.
Despite facing economic challenges akin to those of other nations, China has implemented critical measures to stimulate growth. These include central bank policies aimed at lowering interest rates and reducing the reserve requirement ratio (RRR) for banks. Han noted that additional measures have also been taken to alleviate burdens on local governments, all in alignment with economic stimulus objectives.
While some Western media outlets have predicted a potential economic collapse for China within four decades, Han expressed optimism regarding the country’s economic future. He pointed to China’s status as the world’s largest manufacturing powerhouse and its vast consumer market as key factors contributing to this outlook. China‘s current set of economic goals extends through to 2050.
Reflecting on the bilateral relationship, Ambassador Han described Thailand as a close partner and expressed hope that China’s economic growth would positively impact Thailand’s economy. He noted that the Chinese goods posing competition to small Thai businesses represent only a small fraction of the overall market value. Conversely, he highlighted that China’s industrial output has generated numerous jobs and established a robust supply chain within Thailand.
Addressing concerns over illegal activities involving some Chinese nationals in Thailand, Han assured that China would enhance its surveillance efforts. He stressed that the actions of a few should not tarnish the broader bilateral relationship.
Looking ahead, 2025 marks the 50th anniversary of diplomatic ties between Thailand and China—a milestone Han believes will lead to increased collaboration between the two nations. He also conveyed China’s willingness to assist Thailand in navigating trade compliance issues, particularly those related to the influx of Chinese products in Thai markets. Furthermore, he reiterated China’s support for Thailand’s pursuit of BRICS membership.
