The sudden outbreak of a new pandemic has dealt a severe blow to China and the world economy. Can the Chinese economy survive COVID-19? Will there be an impact on the global supply chain? John Ross, former director of economic and business policy for the Mayor of London and a senior fellow at the Chongyang Institute for Financial Studies under Renmin University of China, shares his views with CGTN.
The recovery of the Chinese economy from the COVID-19 pandemic has entered a new stage as boosting market demand has replaced supply-side support as the top policy priority. As the government pushes business resumption and policy assistance to help market entities overcome difficulties, China's economy has rebounded at a faster-than-expected speed from the impact of the novel coronavirus contagion.
China released a plan Thursday to lower the threshold for foreign investment in listed Chinese companies, a move that an expert said is set to advance the internationalization of the domestic capital market as the country's pursuit of high-quality growth welcomes more global participants. The Ministry of Commerce issued the draft document to solicit public opinion on administrative measures for foreign investment in listed Chinese companies.
China’s National Bureau of Statistics released a report on July 16 on Q2 economic performance that showed 3.2 percent GDP growth year-on-year, a dramatic rebound from the 6.8 percent decline registered in Q1, thus narrowing the H1 fall to 1.6 percent from a year ago. China’s sharp V-shaped economic upturn serves as a bright lighthouse in a world of economic darkness in which most of the leading economies continue to struggle with the worst recession since the Great Depression of the 1930s. Nicolas Lardy, senior fellow at the Peterson Institute of International Economy, regards it as an important and positive contribution to the world economy.
Profits of China's major industrial firms rose 6 percent year on year to 582.3 billion yuan (82.28 billion U.S. dollars) in May due to the easing of cost pressures on producers and gradual recovery of market demand, data from the National Bureau of Statistics (NBS) showed Sunday. Liu Zhiqin, a senior fellow at Chongyang Institute for Financial Studies, Renmin University, interviwed by Biz Today and shared his opinion.
China's Ministry of Commerce (MOFCOM) on Thursday issued a draft to solicit public opinion on the administrative measures for foreign investment in listed Chinese companies. It proposed an effective easing of the investment threshold by lowering the total asset requirements for foreign investors that are not controlling shareholders. Required assets of foreign shareholders will be reduced to $50 million from $100 million, and assets they manage will be cut to $300 million from $500 million, noted the ministry. The lock-up period for foreign investors' holdings will be adjusted from three years to 12 months.
On July 9th 2020, China Public Diplomacy Association, Peking University and Renmin University of China co-hosted "Mutual Respect, Mutual Trust and Cooperation —— The Right Way Forward for China-U.S. Relations" China-US Think Tanks Media Forum. The State Councilor and Foreign Minister Wang Yi attended the meeting and delivered the keynote speech. Chongyang Institute for Financial Studies, Renmin University of China (RDCY) is one of the main organizers of this forum.