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Remarks by H.E. Chinese Ambassador Sun Baohong at the Ghana Economic Outlook and Business Strategy Conference
(January 21, 2015) 
Respected Chairman Michael Agyekum Addo,
Respected Kwame Pianim, Representative of Vice President of the Republic of Ghana,
Honorable Ekwow Spio-Garbrah, Minister of Trade and Industry,
Honorable Ahmed Yakubu Alhassan, Deputy Minister of Food and Agriculture,
Respected Colleagues of the Diplomatic Corps,
Distinguished Guests,
Ladies and Gentlemen,
Good morning! It is my great pleasure to attend the Ghana Economic Outlook and Business Strategy Conference 2015 and exchange views on Ghana's economic prospect with many stakeholders. As much as I want to get some inside dope of Ghana's economy, I bet someone may also be keenly interested in listening to the views of an outsider.
Yes, we all agree Ghana faces some economic challenges. But so does China and so do many countries in the world. As a country with the second largest economy of over USD 10 trillion GDP and a growth rate of 7.4% last year, China still faces the pressure of economic downturn as well as problems of irrational economic structure, unsustainable growth mode, alarming environmental pollution and severe resources bottleneck. And if one makes a general observation throughout the history of China's development, you can see it has never been a smooth sailing and we have gone through many tortuous moments.
The challenges Ghana faces are also universal among developing countries. After dozens of years' independence, many countries cannot attain economic independence with heavy reliance on foreign capital, technology and trade terms. The economic structure is so single and distorted that the figure of economic growth fails to bring real development results. Recently the US exit from quantitative easing and the fall in oil prices push high wave of depreciation of currency among emerging markets, exacerbating the inflation and debt crisis. There are more uncertain and unstable factors in the global economic situation. The macro-control capacity of developing countries is severely tested.
So what to do? First let me brief you what the Chinese leadership is doing now in China. In the circumstances of the complex international situation and arduous task of development, the Central Leadership of CPC with Comrade Xi Jinping as General Secretary put forward the two centenary goals and the Chinese Dream to muster the whole nation's strength to realize Chinese nation's great rejuvenation. Chinese leadership insists on the theme of advancing steadily, focusing on improving the quality and efficiency of economic development so as to ensure steady growth, adjusting economic structure and promoting reform. They work hard to strengthen the ruling foundation by shifting governing approaches, staying close with the people, building a clean government and combating corruption with unprecedented determination. And they are dedicated to comprehensively deepening reform and advancing the rule of law. The Chinese leadership realizes that no matter how hard the bones one should bite or how dangerous the shoals one should tread, reform is the essential means that will decide the contemporary China's destiny. More than 300 concrete measures in 15 areas and 60 tasks are being carried forward in an orderly way. The dividends of reform are being released continuously. Advancing the rule of law would create a better legal environment for China to deepen its all-around reform and maintain the social fairness and justice.
Let me come back to what to do. I think from the perspective of a ruling party, we need to always stand firmly with the people, always proceed from and aim at realizing the fundamental interests of the people. We need to elevate our capacity to be acutely aware of the new trend, new features and new motivation and always take the initiative of our work. From the perspective of a nation, we need to be more united, cohesive and patriotic. In China we say harmony in the family leads to success in everything. We need to draw on collective wisdom to grasp opportunities, jointly face challenges with combined strength, conquer problems with unified action, and make concerted efforts to carry on innovation. On the whole we need to focus more on implementation. Talk is cheap and deeds are precious.
China always views Africa's development from a long-term and objective perspective. That is why we keep very consistent policy on Africa. Despite temporary economic difficulties the past 2014 has witnessed fruitful cooperation between our two countries. China-Ghana's trade volume in the first three quarters of 2014 hit USD 3.98 billion, and therein Ghana's export to China amounted to USD 1.06 billion, increasing by nearly 30 percent. According to GIPC, China's non-financial FDI inflows to Ghana reached USD 1.11 billion, amounting to 65% of the total FDI to Ghana. The much-expected Atuabo Gas Processing Project, the Kpong Water Supply Expansion Project, the New Century Career Training Institute Expansion Project, have all been accomplished in a smooth way and all of these projects are playing a crucial role in Ghana's economic transformation and improvement of people's livelihood.  
These success stories testify that China's development abounds in global significance. The Chinese Dream shares many common values and goals with the Ghanaian Dream featured by Better Ghana Agenda. China and Ghana need to build up a stronger community of common destiny and integrated interests. China is committed to connecting its development with that of Ghana, aligning the interests of the Chinese people with those of the Ghanaian people, and combining China's development opportunities with those of Ghana. China Ghana cooperation should be mutually reinforcing and provide each other the opportunities.
For the time being, the Chinese Embassy in Ghana is actively providing facilities to Ghana's business community to expand their export Ghana, is actively encouraging Chinese enterprises to invest more in energy, manufacturing, housing and agricultural sectors of Ghana, is actively studying the diversified modes including PPP to carry out cooperation in infrastructure constructions. Yesterday afternoon, we held a Tema-China Economic Forum with TMA, where both the Chinese business community and the Ghanaian business community participated and decided to establish a Tema-China Chamber of Commerce. The event was the first ever one. It did not happen by chance, but rather it was born out of the ever closer interactions between us and our mutual desire to seek deep integration, enlarge converging interests and identify growth areas for cooperation.
Honorable Ministers, Ladies and Gentlemen,
In less than one month, Chinese lunar new year will be coming. This is the Year of Goat. Goat is a kind of animal that endures hardship. A happy life comes from hard work. Only perseverance will lead to victory. Only those who brave hardships would prevail. Ghana has never been in want of resources, strategies and talents. Let us redouble our efforts, pour out positive energy, work for the expectations of history and of people, and embrace a bright future.
I wish the conference a great success.
Thank you!
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