China Will Continue Expanding Opening up and Offering More Cooperation Opportunities
2020/11/11
 
Foreign Ministry Spokesperson Wang Wenbin's Regular Press Conference on November 9, 2020

China News Service: According to the recent data from National Bureau of Statistics, Ministry of Commerce, General Administration of Customs and other ministries, the Chinese economy is witnessing a steady recovery. In your opinion, what influences will this have on the global economic recovery?
 
Wang Wenbin: Currently, China has made major strategic outcomes in the prevention and control of COVID-19, leading to steady social and economic recovery. That has been strong evidence of the great resilience and enormous potential of the Chinese economy. According to the estimation of authoritative international organizations including International Monetary Fund (IMF), China will be the only major economy that retains positive growth in 2020.
 
With steady economic revival and the building of a new development paradigm, China's role as the engine driving the global economic recovery and growth will become more prominent. During the first three quarters of 2020, trade between China and  ASEAN, the EU, the US, Japan and the ROK has grown despite the pandemic. Historically, China and ASEAN have both become each other's largest trading partner, and China has become the largest trading partner of the EU for the first time. The Chinese enterprises' direct investment in non-financial sectors of the countries along the Belt and Road amounted to 13.02 billion US dollars, registering a year-on-year growth of 29.7 percent. At the opening ceremony of the third China International Import Expo (CIIE), President Xi Jinping announced that China will steadfastly expand all-round opening up, explore more efficient ways to connect domestic and foreign markets and share factors of production and resources, so that the Chinese market will become a market of the world, a market shared by all, and a market accessible to all. With a population of 1.4 billion and a middle-income group exceeding 400 million, China is the world's largest market with the greatest potential, which will continue expanding its opening up and offering more cooperation opportunities. We will work with other countries to strengthen our cooperation in pandemic prevention and control, maintain the stability of global industrial and supply chains and remain committed to building an open world economy so as to inject more positive energy into the global economic recovery.