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Nearly 70 Percent of US Firms Surveyed Are Optimistic about China's Economy
MFA: Survey Shows International Confidence in the Chinese Economy

2020/08/13

The positive survey result on the Chinese economy recently released by the US-China Business Council (USCBC) is yet another proof of the international community's firm confidence in China's market, business environment and economic prospect, said Foreign Ministry Spokesperson Zhao Lijian on 13 August.

At the Foreign Ministry's regular press conference, Zhao was asked to comment on the USCBC 2020 Member Survey released on 11 August. According to the survey, nearly 70 percent of the US companies expressed optimism about the five-year business outlook in China. As a result of this long-term confidence in the China market, 87 percent of companies reported no plans to shift production out of China.

Zhao said that "We have taken note of the USCBC survey data. They reaffirmed international confidence in China's market, business environment, and economic prospect."

Zhao noted that COVID-19 has dealt a heavy blow to the global economy this year. The Chinese economy has withstood the test and displayed great resilience and growth potential.

Swiftly putting the virus under effective control, China has been reopening the economy and returning life and work to normal. In the second quarter, China's GDP growth moved into positive territory and major indicators rallied, marking steady economic recovery, and making China the first major economy to achieve positive growth since the virus struck.

In the meantime, China has been expanding opening-up and promoting business cooperation with international partners. This has effectively boosted global demand and international trade. In the first half of the year, many foreign firms chose to increase investment in China, including 320 major projects each with over $100 million investment. Leading international institutions have been optimistic about China's economic prospect and see China as a source of confidence and a driving force for global recovery.

Zhao highlighted China's huge market with 1.4 billion population and its full-fledged industrial system. He reaffirmed China's firm commitment to further opening up, developing relevant platforms and fostering a more enabling business environment. "We believe that China's development entails more opportunities for businesses around the world, and the pie of win-win cooperation between China and other countries will grow bigger and bigger," said Zhao.

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