China’s economic recovery gives foreign companies confidence

Recently, a number of foreign media quoted data released by international economic agencies and pointed out that China’s strong economic growth after the epidemic is a reliable locomotive for the global economy. The resilience of the Chinese market gives foreign companies confidence.

The strongest year-on-year growth in the first quarter

According to the US Consumer News and Business Channel (CNBC), the Organization for Economic Cooperation and Development (OECD) recently released data that the economic aggregates of the G20 members in the first quarter of this year increased by 0.8% month-on-month and 3.4% year-on-year, which has returned to The level before the outbreak of the new crown.

According to the report, the economic status and growth trends of various members differ significantly. Except for a few countries, such as China and Turkey, whose economies have exceeded their pre-epidemic levels, the economies of most G20 members have not recovered.

The report pointed out that among the members of the G20, China had the strongest year-on-year economic growth in the first quarter of this year, reaching 18.3%; the UK had the worst decline, shrinking by 6.1% year-on-year.

China's economic recovery

Reliable locomotive of global economy

According to the “Russian newspaper” website, the World Bank in the latest issue of the “Global Economic Outlook” report raised its global economic growth forecast for 2021 from the previous estimate of 4% to 5.6%.

The report pointed out that global economic growth is mainly due to the strong recovery of a few major economies. China is one of the “reliable locomotives” leading the world economic growth.

The report shows that China’s economic growth is expected to rise to 8.5% from the previous estimate of 7.9%, mainly due to China’s active exports and the gradual expansion of economic recovery from public investment to the consumer sector.

Market resilience gives foreign companies confidence

According to Bloomberg News, the “2021 Business Confidence Survey” report recently released by the European Union Chamber of Commerce in China shows that 60% of the companies surveyed plan to expand their business in China in 2021, an increase of nearly 10 percentage points from last year.

The report quoted an investigation report stating that “the resilience of the Chinese market provides European companies with much-needed shelter in the storm of the new crown pandemic”. 73% of the interviewed companies said they achieved profitability last year, another 14% of the interviewed companies said they achieved a balance of payments, and about 68% of the interviewed companies are optimistic about the business prospects of their industry in the next two years.

According to reports, China quickly contained the epidemic last year and successfully reopened its economy, making it the main driver of global growth.