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China’s high-quality development contributes to global economic recovery
By He Yin, People’s Daily
The international community has paid high attention to the ongoing “two sessions” in China, looking forward to more positive messages of promoting high-quality economic development and injecting more vitality and confidence into the global economy that is facing downward pressure.
The annual meetings of the National People’s Congress (NPC) and the National Committee of the Chinese People’s Political Consultative Conference (CPPCC) bring together thousands of national legislators and political advisors.
International personages have voiced support for China’s firm endeavor to pursue high-quality development unveiled in the meetings, believing that it will create more opportunities for the world and contribute to world economic recovery.
High-quality development is the first and foremost task in building a modern socialist country in all respects, said Chinese President Xi Jinping while attending a deliberation with his fellow deputies from the delegation of east China’s Jiangsu province at the first session of the 14th NPC on March 5.
During the deliberation, Xi stressed that efforts should be made to fully and faithfully apply the new development philosophy on all fronts, and better coordinate the effective upgrade in quality with the appropriate expansion in quantity in economic development.
China must unswervingly deepen reform and opening-up and transform the development model, and the happiness and well-being of the people are the ultimate goals of promoting high-quality development, Xi said.
The remarks have charted the course and provided fundamental guidance for advancing high-quality development under new conditions and further enhanced the international community’s confidence in China’s economic development.
China aims to expand its economy by around 5 percent in 2023, according to a government work report submitted to the national legislature for deliberation.
The international community generally believes that the growth target is scientifically reasonable and has demonstrated to the world its firm resolve to promote high-quality economic development.
During the past five years, China’s gross domestic product (GDP) has grown to over 121 trillion yuan ($17.95 trillion) at an average annual rate of 5.2 percent in spite of multiple challenges, including the rapidly evolving international landscape, impacts of the COVID-19 pandemic, and domestic economic downward pressure.
Over the past decade, the country achieved a medium-high rate of economic growth given its large economic aggregate and transitioned to high-quality development. During the period, the country’s GDP has increased by nearly 70 trillion yuan, with an average annual growth rate of 6.2 percent.
Such remarkable achievements have fully proven that the fundamentals remain unchanged, and the Chinese economy still enjoys strong resilience, enormous potential, great vitality and long-term sustainability.
International organizations and investment institutions have lifted their growth forecasts on China’s economic growth this year as a result of their growing confidence in its economy.
“If you are looking for growth, the answer is very simple. The next China is China,” said Joe Ngai, managing partner of McKinsey Greater China. The positive judgment on China’s economic outlook has sparked widespread resonance in the international community.
China accounts for more than 18 percent of the world economy and contributes around 30 percent to global economic growth. It ranks first globally in terms of trade in goods and services, and has become a major trading partner of more than 140 countries and regions.
The country has the world’s most complete and largest industrial system with strong industrial supporting capacity. It also enjoys great technological innovation capacity and industrial production capacity.
China is in the process of industrialization and urbanization. Its middle-income group is expected to exceed 800 million in the next 15 years, further driving the development of an enormous market.
During the past five years, China’s research and development (R&D) spending intensity has increased from 2.1 percent to more than 2.5 percent, and the contribution of scientific and technological progress to its economic growth has exceeded 60 percent, demonstrating the increasing capability to support development with innovations.
As of the end of 2022, China has registered over 52 million enterprises and 110 million self-employed individuals, indicating significant improvement in its endogenous driving force for development.
Such achievements have given China confidence on the path of its high-quality economic development, and made the international community optimistic about China’s economic growth prospects.
China accelerates the establishment of a new development pattern and remains committed to improving the quality of development while expanding high-level opening-up, injecting important momentum into global economic development.
Over the past five years, China’s total volume of trade in goods has surpassed 40 trillion yuan at an average annual growth rate of 8.6 percent, ranking first in the world for many consecutive years. Meanwhile, the country has been a major destination for foreign investment and a leading global outbound investor.
This year, China will prioritize the recovery and expansion of consumption, intensify efforts to attract and utilize foreign investment, steadily expand institutional opening-up, and continue the transition to green development. Such endeavors are expected to bring more opportunities to enterprises from all countries.
In January this year, China got off to a good start in attracting foreign investment, as the foreign direct investment (FDI) into the Chinese mainland, in actual use, expanded 14.5 percent year on year to 127.69 billion yuan.
Many foreign-funded companies regard China as one of the most important destinations for investment and plan to increase investment in the country.
China is advancing the rejuvenation of the Chinese nation on all fronts through a Chinese path to modernization. Pursuing high-quality development is one of the essential requirements for the Chinese path to modernization.
Adhering to the general principle of pursuing progress while ensuring stability, China will fully and faithfully apply its new development philosophy on all fronts, and accelerate creating a new development pattern.
It is ready to boost global economic recovery by promoting its high-quality development and create new opportunities for the world by striving for new achievements in development.
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Bank Cannot Freeze Customer’s Account Without Valid Court Order — Zarewa
A legal practitioner, Mr M. D. Zarewa, has said that a bank cannot freeze or restrict a customer’s account without a valid court order.
Zarewa said it was prevalent in the society for law enforcement agencies to give directives to banks to freeze customers’ accounts whenever there was a pending case before them, adding that banks often complied with such directives.
He, however, said such practice was alien to Nigeria’s jurisprudence, stressing that banks were enjoined not to interfere with or restrict the activities of any customer’s account without a valid court order.
According to him, it is trite law and settled beyond argument that a bank cannot freeze a customer’s account without a valid court order.
He said the position was entrenched in the case of GTB Plc v. Olachi & Anor (2025) LPELR-81833(CA), where the Court of Appeal held that “whether frozen or restricted, neither can be done without the valid order of a Court of Law.”
Zarewa further cited GTBank v. Adedamola (2019) 5 NWLR (Pt. 1664) 30 at 43, Paras. E-F, where the court held:
“Before freezing customer’s account or placing any form of restraint on any account, the bank must be satisfied that there is an Order of Court.
“By the provisions of Section 34 of the Economic and Financial Crimes Commission Act 2004, the Economic and Financial Crimes Commission has no power to give direct instructions to banks to freeze the account of a customer without an Order of Court. So doing, constitutes a flagrant disregard and violation of the rights of a customer.”
The lawyer said any customer whose account had been frozen or restricted without a valid court order could institute a suit against the bank for grossly violating his or her rights.
He said such a customer could particularly seek redress for the violation of the right to own movable and immovable property and seek compensation from the court.
Furthermore, Zarewa said the law was trite that where there was a wrong, there was a remedy, as captured in the Latin maxim, Ubi jus ibi remedium.
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Gov AbdulRazaq Inaugurates 464-Unit Housing Estate In Kwara
Stephen Olufemi Oni, Ilorin
Kwara State Governor AbdulRahman AbdulRazaq has inaugurated the ‘AbdulRahman AbdulRazaq Morire Housing Estate’ in Ijagbo, Oyun Local Government Area of the State.
Speaking at the groundbreaking of the housing estates, which included 210 units of two-bedroom terrace apartments, 200 units of three-bedroom units and 54 units of four-bedroom terrace duplexes, the
Governor, noted that housing should not be seen or regarded as a luxury, but rather as a fundamental human requirement and cornerstone of dignity, security, and family stability, lamenting the daunting challenge of addressing housing deficits across the country.
He said: “Dear Kwarans, housing is not a luxury. Basic housing is a
fundamental human need and a cornerstone of dignity, security,
and family stability. Yet, across Nigeria and indeed in Kwara State,
the challenge of addressing housing deficit is daunting.
“This administration believes that inadequacy of proper shelter
for Nigerians is not merely a problem of not building enough
houses. Indeed, several studies have attributed the housing deficit in Nigeria to a complex mix of causes, key among them being high costs and rising costs of building materials, weak finance, difficult land systems, infrastructure gaps, institutional limitations, among others.
“On behalf of the people of Kwara, I thank the management of ISHI
Homes Limited for this partnership and for choosing Kwara State
as the location for this important development.”
Represented by the Commissioner for Housing and Urban Development, Dr Segun Ogunsola, the Governor applauded the developer for recognising his administration’s contributions to mass housing development in the State.
“The administration has consistently placed housing development high on its agenda. The government recognises access to decent and affordable housing as essential to the wellbeing of the people.
“The State Government has also been in active collaboration with
institutional partners including the Federal Ministry of Housing
with a view to increasing housing stock in the State.
“Recently, we acquired a housing estate with over 130 flats at
Ogbondoroko in Asa LGA of the State. Government has approved
that the estate be onboarded onto the administration’s social
support scheme,” he disclosed.
AbdulRazaq said the commitment was reflected in the development of the Kwara Smart City and other mass housing initiatives across the State.
The Governor disclosed that his reforms in land administration have reduced the processing time for Certificate of Occupancy (C of O) from 180 days to 35 days.
AbdulRazaq said the improved turnaround time demonstrated the administration’s commitment to making land administration more transparent, efficient and investor-friendly.
Earlier in his remarks, the Chief Executive Officer (CEO) of ISHI Homes, Dr Olayinka Ilufoye, said the project was intended to democratise home ownership and make decent and affordable housing accessible to the people of Kwara South senatorial district.
Ilufoye said the estate was meant for civil servants, traders and other Nigerians who can access it through the National Housing Fund (NHF).
“The name AbdulRahman AbdulRazaq Morire, which translates to ‘I have seen goodness’, is a deliberate expression of our faith, hope and expectation.
“We believe this estate will become a testimony of prosperity, progress and abundance in Kwara South,” he said.
Ilufoye pledged that the company would remain committed to transparency, accountability, quality construction and timely delivery.
The Executive Chairman of the Kwara State Geographic Information Service (KWGIS), Alhaji Sulyman Abdulkareem said the state government has consistently placed housing development high on its development agenda.
He commended the state government for ensuring access to land, facilitating the prompt issuance of titles and certificate of occupancy.
Abdulkareem pointed out that by providing timely approval for mortgage transactions, the Governor is creating the conditions necessary for housing development to thrive in Kwara State.
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Scholars Hail Late Sheik Kamalu-deen’s Legacies iN Education, Leadership
Stephen Olufemi Oni, Ilorin
Nigeria, and the world at large, are in dire need of exemplary leaders like the late Founder of the Ansarul Islam Society of Nigeria, Sheik Muhammad Kamalu-deen al- Adabbiy.
This was the submission of various scholars at a media briefing in ilorin, the Kwara State capital, to usher in the Society’s week-long activities to commemorate the 100 years of the establishment of the Az-Zumratul Adabiyatul Kamaliyyah School of Arabic and Islamic Studies, in Okekere, Ilorin.
The school was fouded by the late Sheik Kamalu-deen in 1942.
Born in 1905, the late Sheik Kamalu-deen was one of Nigeria’s foremost Islamic scholars and educational piooneers who transformed deep Islamic religoius learning into education and also advocated the acquisition of western education .
He also served as a Councillor and Member of the Ilorin Native Authority Transition Committee between 1958 and 1961and was appointed as the first grand mufti of Ilorin by the Emir of Ilorin.
The late Kamalu-deen al- Adabbiy died in 2005 at the aged of 100 years, leaving behind impactful legacies in the propagation of Islamic religion, scholarship, education and leadership.
Addressing journalists at the ancient hall of the Az-Zumratul Adabiyatul Kamaliyyah School of Arabic and Islamic Studies in Okekere, Ilorin, the spokesperson, Prof Kamil Kamaldeen, said the late sheikh was “non discriminatory” in all his policies, a virtue he said was lacking in most leaders today.
“We are here to celebrate the legacies of the late Sheikh Muhammad Kamalu-deen al-Adabbiy not to tell his history, at a time when the world continues to need what he stood for. We are in a world today that we are looking for leaders who will serve without puting themselves first, no matter where we come from,” he said
The Registrar was flanked by the Vice Chancellor of the Muhammad Kamalu-deen University, Prof AbdulRasheed Jimoh, General Overseer of the Az-Zumratul school, Sheik Mustapha Kamalu-deen al- Adabby, Grand Khadi of the Kwara State Sharia Court of Appeal, Justice Abdulateef Kamaldeen, National Missioner of Ansarul Islam Society of Nigeria, Sheik Abdulmumini Ayara, retired Grand Khadi of the Kwara state Sharia Court of Appeal, Justice Idris Haroon and a foremost islamic Scholar, Sheik Sharafadeen Ajara .
Others included the President of Az-Zumratul alumni association, Ustaz Abdullahi Oni-Tolotolo, and the Principal of the School.
They noted that the late Sheikh Kamalu-deen had through his preachings, established educational structures and selfless leadership qualities, produced worthy ambassadors in all spheres of disciplines, urging leaders at all levels to invest heavily in education .
“No society loses from investing in education, it can only gain, no society loses when you build skills, you can only gain,” they added.
The Scholars also charged leaders to take a cue from the late Sheikh Kamalu-deen whom they said was always willing to collaborate with scholars and leaders of like minds in a bid to bring advancement and progress to his community, citing his link with Al-Ahhar University, Cairo, as beneficial in advancement of higher Islamic studies in Ilorin.
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