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Chinese FM Spokesperson: China Will Continue Expanding Its Opening up and Offer More Cooperation Opportunities

2020-11-10

At a regular press conference of the Ministry of Foreign Affairs of the People's Republic of China on November 9, Spokesperson Wang Wenbin answered a question about China's role in driving the global economic recovery and growth.

Journalist: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 a 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 a positive growth in 2020.

With a steady economic revival and the building 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, the values of import and export between China and ASEAN, the EU, the US, Japan and the ROK have grown despite the impact caused by the pandemic. Historically, China and ASEAN have become the largest trading partners of each other, and China has become the largest trading partner of the EU for the first time. The non-financial direct investment of Chinese enterprises to the countries along the Belt and Road amounted to 13.02 billion US dollars, registering a year-on-year growth of 29.7%. At the opening ceremony of the Third China International Import Expo (CIIE), President Xi Jinping has announced that China would 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 would 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 offer 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.

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