How China is stimulating companies to revive their businesses

Beijing, December 20 February 2022 /PRNewswire/ — China is seeking to boost an economy that has been under pressure for three years due to COVID-19 as it further refines COVID-19 containment measures this month.

China’s annual Central Economic Work Conference, the heroes Beijing Last week, calls were made to make economic stability a top priority, moving steadily into 2023.

Analysts believe that China’s economy will rebound in 2023 and continue to be a reliable and important driving force for the global economy.

Many local governments have arranged charter flights to send business delegations to visit overseas customers, driving enterprises to resume work and production.

Zhang Chunlong, a researcher at the Jiangsu Academy of Social Sciences, emphasized that restoring order is important, but what is more important is restoring economic confidence and vitality.

“We want to speed up the domestic and international economic cycle development.”

keep the business running

Over the past three years, various levels of government in China have adopted a series of policies to keep businesses operating amid recurring waves of COVID-19.

Protect local chipmakers in eastern metropolis Shanghaithe city government allows them to operate under a “closed loop” system.

Although the COVID-19 outbreak began with March 28when the city began to witness a rise in Omicron infections.

Hua Hong Semiconductor Co Ltd, China’s second largest chip producer, has relocated more than 6,000 workers across five factories in China Shanghai since March 27.

Huahong worker Wang Lijing told China Central Television (CMG) in April that he had been at the factory for the past two weeks.

A sort of Shanghai Shipyards have also resumed production April 23 and delivered the world’s largest Very Large Ethane Carrier (VLEC) May 16.

In order to prevent and control the epidemic, the shipyard has set up an independent ventilation system and requires the staff on board who have tested positive for the coronavirus or confirmed as COVID-19 infection cases to be immediately isolated to curb the possible further spread of the virus.

Zhang JianThe deputy general manager of Jiangnan Shipyard told CMG, “In the first phase, we resumed the normal delivery process at the terminal, and we plan to reopen all shipyard production lines by the end of May.”

With effective COVID-19 measures, China’s BYD is dethroned Elon Musk’s Tesla is the world’s largest electric vehicle (EV) producer, with sales of 641,000 in the first half of 2022.

Jeff ChungCitigroup auto analysts called BYD’s sales growth “impressive.”

Chinese enterprises “going out”

As China further eased COVID-19 restrictions in December, cities sent delegations to overseas markets for the first time in three years to boost trade and secure deals.

East China Zhejiang Province Taking the lead in resuming foreign trade, organizing nearly 100 people from 50 companies to participate in the 36th Asian Fashion Show Tokyo, Japan.

“A meeting in person is better than sending a thousand emails,” Li Linthe deputy director of the Foreign Trade Development Office of the Zhejiang Provincial Department of Commerce told CMG.

At the same time, cities in East China Jiangsuincluding Suzhou and Wuxi in southwest China sichuan and southern China Guangdong Province Delegations were also sent abroad to find new opportunities.

“Going out is a must.” Wang Yuanpei, general manager of Wuxi Jiejin Precision Machinery Co., Ltd. said.

“The international market has changed dramatically over the past three years, and we are eager to meet our clients face-to-face to strengthen our relationships.”

Confidence of foreign companies China

Foreign businesses say they still see China as an attractive investment destination despite COVID-19.

The 20th National Congress of the Communist Party of China in 2019 further boosted the market confidence of foreign-funded enterprises October 27 Provided by China Council for the Promotion of International Trade (CCPIT).

Among the more than 500 foreign-funded enterprises surveyed, 96.7% of the enterprises affirmed China’s development achievements in the past ten years, and 96.9% of the enterprises expressed that their confidence in the Chinese market has increased.

In the first quarter of this year, about 90% of foreign-funded enterprises were satisfied with China’s policies on market access, promotion of market competition, access to business premises, and financial services.

Also in 2022, China’s leading automaker FAW and German automaker Audi have launched a project to produce pure electric vehicles in cities in northeastern China Changchunwith a total investment of more than 30 billion yuan ($4.7 billion).

PhD Jurgen Usselpresident or Audi Chinatold CGTN, “The decision to enter the Chinese market with our trusted partner FAW is very important. Jilin Province

“This clearly demonstrates our continued commitment to the electronic transformation of China’s automotive industry.”

Source China Global Television Network

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