CIIS Releases the "China and the World" Report Series, No.3

CIIS | 作者: CIIS | 时间: 2020-04-02 | 责编:
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       Since the novel coronavirus disease (COVID-19) outbreak, China has earnestly launched the national emergency response, giving top priority to the prevention and control of the virus. The anti-virus battle has achieved significant progress and under the guidance of the CPC Central Committee and the State Council, China is gradually making coordinated efforts in both epidemic control and production resumption, which will promote China’s economic recovery and growth, as well as inject confidence into the world economy.

       China is a "first mover" in the fight against COVID-19. It has adopted a series of accurate and effective measures for epidemic prevention and control, including coordinating joint prevention and control, conducting differentiated prevention and control measures, promoting scientific research, etc. The epidemic has put some pressure on China’s economy. Service industry is the first to be affected. Consumption, investment and export have all fallen to a certain degree. Private enterprises and small and medium-sized enterprises (SMEs) may suffer the most during the outbreak. China has made tremendous economic and social sacrifices to stop the virus from spreading, which has not only protected the safety of Chinese people but also won valuable time for the global fight against COVID-19.

       China is a transit hub for global industrial chain. Measures such as suspending production and business put pressure on the normal operation of the global industrial chain, but China has the ability to maintain the stability of domestic supply chain and industrial chain. It spares no efforts to lower tax burden, clear logistics and transportation blockages and stabilize foreign trade and foreign investment. As production gradually resumes in an orderly way in China, the interruption of global industrial chain is being abated. During the outbreak, some western countries hold that coronavirus will accelerate the relocation of industries out of mainland China, and therefore there is going to be more decoupling between China and the world. However, this statement runs counter to the basic laws of economics and globalization.

      China is a “stabilizer” for financial market. China’s fight against COVID-19 has achieved positive results and has adopted various supportive measures to strengthen counter-cyclical adjustments. It has spared no efforts to keep employment, the financial sector, foreign trade, foreign and domestic investments, and expectations stable, which has dispelled global investors’ panic and contributed to market stabilization in a proper way. The basic trend of China’s long-term growth remains unchanged at present and for a period to come. Robust consumption remains the key to China’s growth momentum. There is still great potential of development in investment. And China’s advantage in foreign trade remains unchanged. China’s deepening reform and opening up will further unleash domestic economic potential. In a word, China’s steady long-term growth prospect will continue to boost investors’ confidence in global growth prospects and reduce financial market turmoil.

       China is an “advocator” of international cooperation. China is committed to promoting international cooperation whether is during the reform and opening up or the current anti-virus battle. China steadily advances opening up and enhances international economic cooperation. Measures have been adopted to stabilize foreign investment and help foreign enterprises resume production. Meanwhile, China will give foreign investments greater market access to more sectors to attract foreign investment. China’s commitment to trade cooperation has made great contribution to the stability of international trade. China is active in international economic cooperation and contributes to global growth. China actively promotes the Belt and Road Initiative, adding momentum to the stability of international trade and investment.

       China is a “promoter” of economic globalization. Global supply chains, capital market and commodity market once slumped under the continuing shocks from COVID-19. Economic globalization may have suffered some setbacks, but the overall trend is irreversible. China’s anti-virus measures have achieved great progress. It might lead the recovery of world economy and act as a defending force of economic globalization. As the virus spreads to more and more countries, enhancing international cooperation and promoting the build of a community with a shared future for mankind is the appropriate option.

       In this regard, CIIS has recently set up a research group chaired by President Qi Zhenhong to closely follow the COVID-19 pandemic and conduct relative researches. Hereby, we are releasing the third edition of the report series: China's Role in the Global Fight against COVID-19.

PDF Version: "China and the World" Report Series, No.3