China’s economy withstand test of time in wake of COVID-19

BEIJING, August 14 (INP): Amid the huge economic fallout of the COVID-19 pandemic, China’s economy withstood the test of time and demonstrated strong resilience and growth potential.

This was stated by a spokesperson of the Chinese Foreign Ministry Zhao Lijian while Commenting on USCBC 2020 Member Survey released on August 11.

The spokesperson said, ” We brought the epidemic under control with timely and effective measures and then went all out with resumption of economic activities to restore life and work back to normalcy.

As a result, economic growth turned positive in the second quarter and major indicators resumed growth, bringing the economy steadily onto the path of recovery.

China became the first major economy to resume positive growth.The results attest to global confidence in the Chinese market, business environment and economic prospects for foreign businesses.

Meanwhile we pressed ahead with opening-up and international trade cooperation, boosting global demand and promoting international trade.

During the first half of the year, many foreign companies further expanded their investment in China, with 320 major projects drawing more than $100 million input each.

Leading international institutions are optimistic about China’s economic prospects, seeing China as a source of confidence and positive energy for world economic recovery.

China boasts a huge market with its 1.4 billion population and full-fledged industrial supporting systems. We will remain committed to opening-up and build an open platform with a better business environment.

We believe China’s development will provide more opportunities for foreign companies, and our win-win cooperation is bound to deliver greater benefits, the spokesperson added.

According to report, nearly 70 percent of the American companies surveyed are optimistic about the five-year commercial prospects of the Chinese market.
As a result of their long-term confidence in the China market, 87 percent of the respondents reported no plans to shift production out of China.

INP/javed