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Commentary: China's gradual resumption of production big boost for world economy
Last Updated: 2020-02-24 00:19 | Xinhua
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While China is fighting arduously against the novel coronavirus disease (COVID-19), all sectors of the country are striving to gradually resume work and production to minimize economic and social fallout from the outbreak.

Sunday's meeting held in Beijing to advance the work on coordinating the prevention and control of the COVID-19 and economic and social development has sent a clear signal: China must win the two battles.

The epidemic situation remains grim and complex and it is now a most crucial moment to curb the spread. On the other hand, China must unleash the huge potential and powerful driving force of development and strive to achieve the goals and tasks for economic and social development this year.

It is true that the COVID-19 epidemic is having an adverse impact on China's economic and social development. Some companies in China now face difficulties such as labor shortages, slow logistics and lack of funds, in resuming production.

China's challenges are also the world's. Production delays in China could unnerve overseas manufacturers as they suffer from temporary supply chain disruptions.

But it is important to see that the impact of the outbreak is short-lived and generally manageable. The fundamentals of China's long-term sound economic growth remain unchanged.

The Chinese leadership is coordinating efforts of the entire nation, including strengthening the regulation role of macro-economic policies, ensuring employment, continuing the task of alleviating poverty, as well as keeping foreign trade and investment stable.

All these are key areas China should focus on to put its economic and social development back on track. And the policy toolkit of the government is sufficient.

Adopting precise and effective strategies under the leadership of the Communist Party of China, the country is marching on the way to pass the big test to its governance system and capabilities.

Positive progress is being made. Regions with relatively low risks will comprehensively restore the order of production and life. Medium-risk regions are promoting business resumption in an orderly manner, while high-risk regions continue to be fully committed to doing a good job in epidemic prevention and control.

Many foreign-funded manufacturers, such as Airbus and Honeywell, have begun to resume work based on their conditions. The epidemic has not affected their confidence in investing and operating in China. It is wise and far-sighted to hold the confidence and resolve to develop in China, and along with China.

The restart of the "World's Factory" and "World's Market" will reactivate the global industrial chain, relieve pressure on the world economy and safeguard the common interests of the global community.

It is an urgent task for the international community to make joint efforts in fighting the epidemic and provide support for the steady growth of international trade and economic growth.

Step by step, the resilience of the Chinese economy will be demonstrated, boding well for global growth. China's success is also the world's success.

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Commentary: China's gradual resumption of production big boost for world economy
Source:Xinhua | 2020-02-24 00:19
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