China's sustained economic recovery has injected confidence into the world

"The only major economy that is expected to achieve positive growth in 2020 is China." On the basis of the latest update of the International Monetary Fund's World Economic Outlook report, the international public opinion has released such an encouraging message. Against the backdrop of the COVID-19 pandemic and the severe recession in the world economy, China's continued recovery has injected strong confidence into the global economic recovery.

Having withstood the "stress test" of the epidemic, China has set an example for other countries to coordinate epidemic prevention and control and promote economic and social development.The latest batch of economic data released by China in recent days also confirmed the international Monetary Fund's optimistic forecast.Industrial added value increased for two consecutive months, the profit growth of industrial enterprises turned from negative to positive, the production index of the service industry turned from negative to positive, the growth rate of industrial electricity consumption accelerated, and the electricity consumption of the service industry and railway freight volume turned from negative to positive...The data show that China's economy is beginning to recover.The purchasing managers' index of the manufacturing sector was 50.9% in June, which has been stable above the line of expansion and contraction for four consecutive months. This indicates that China's economic recovery momentum is consolidated, and the stability of the industrial chain continues to strengthen, laying a foundation for a smooth start to the second half of the year.According to the State Post Bureau, the volume of express delivery services nationwide recovered quickly in February from a low level in January to a positive growth rate. By may, the growth rate had been bucking the trend and exceeded 40% year on year, the highest since February 2018.Facts have shown that China has not only withstood the test of the epidemic, but also taken targeted measures to promote epidemic prevention and control as well as economic and social development in a coordinated way, so as to promote steady economic recovery and steady operation.

We have actively and orderly promoted the resumption of work and production, and China has provided strong support to the restoration and stability of the global industrial and supply chains.The impact on the world economy is still unfolding, with the World Bank predicting that the global economy will shrink 5.2 percent this year, calling it "the worst recession since World War II."The ORGANIZATION for Economic Cooperation and Development said the outbreak has triggered the worst recession in nearly a century, and despite the gradual easing of containment measures, the road to recovery for the world economy remains uncertain.Against this background, China has always anchored the basic business of foreign trade, maintained the stability of the global industrial and supply chains, and nurtured new drivers of economic development by supporting the cultivation of new forms of trade."Domestic Chinese companies not only quickly resumed production, but also helped overseas suppliers resume production capacity and helped international supply chains recover."CNBC reported.Adam Posen, director of the Peterson Institute for International Economics, said the Chinese government's timely and effective response to the epidemic, especially in the public health sector, is key to its rapid economic recovery and leadership in the world.

We are committed to opening up. China has added new impetus to world economic recovery and development.This year's report on the work of the government laid out plans for further opening up in terms of promoting the basic stability of foreign trade, actively utilizing foreign capital, building the "One Belt And One Road" with high quality, and promoting trade and investment liberalization and facilitation.The Overall Plan for building a Free Trade Port in Hainan was released, aiming to create a clear banner and an important door for China to open to the outside world in the new era.The 2020 edition of the negative list for foreign investment access and the negative list for foreign investment access in pilot free Trade zones were released to the public. On the basis of three consecutive years of reduction, the negative list for foreign investment access was again substantially reduced, sending a strong signal to promote reform and development through opening-up in the face of the epidemic.The 127th Canton Fair was held online, attracting overseas buyers from 217 countries and regions with a record distribution of origin.Preparations for the third China International Import Expo are progressing in an orderly way. The contracted exhibition area of enterprises has exceeded 90% of the planned area.Foreigners have pointed out that China's commitment to an open and fair market environment will boost investor confidence and boost global economic recovery.

Looking back to the first half of 2020, despite considerable pressure on economic performance, the fundamentals of China's economy remain stable and sound in the long run.China has made great efforts to develop new opportunities in the midst of crisis and to open up new opportunities in the midst of changes.In a more unstable and uncertain world, China has the confidence and ability to continue to promote high-quality economic development and inject a steady stream of confidence and momentum into the global economy under the shadow of the epidemic.

Source: People's Daily by: 2020-07-14 10:00:07