US media: China's strong recovery boosts neighboring economies
Reference News Network reported on October 7
US media said that investment companies said that China's economic recovery from the impact of the new crown epidemic will boost the development of Asian neighboring economies.
According to a report by the US Consumer News and Business Channel website on October 5, Zhao Yaoting of Invesco Investment Corporation of the United States said that as the Chinese economy recovers from the impact of the new crown epidemic, Asian economies are bound to benefit.
Zhao Yaoting said in an interview with Consumer News and Business Channel's "Asian Signpost" column on October 5: "China's economic recovery will boost the development of Asia's neighboring economies to a certain extent." Zhao Yaoting is the Asia Pacific global market of Invesco Investment. Strategist.
Zhao Yaoting said that the focus is "can Chinese consumers quickly resume normalized activities."
He said: "I think China will have a greater impact on promoting the development of other Asian economies."
The report pointed out that before Zhao Yaoting’s comments, the latest data showed that China’s manufacturing activities in September expanded, indicating that China, the world’s second largest economy, continued to recover.
In August, China reported that the growth rate of retail sales turned from negative to positive for the first time in the year, but the growth rate of online sales of consumer goods and services slowed that month.
Zhao Yaoting said that his company found that the number of restaurant reservations and family outings by Chinese people during the National Day Golden Week holiday peaked.
He said: "I expect the performance of the Chinese stock market will still outperform the developed market stock market, because China is free from the impact of the new crown epidemic and the economy has been showing a V-shaped rebound."
Speaking of concerns about the United States, Zhao Yaoting said that with U.S. President Trump being diagnosed with the new crown virus last weekend, the tension between Beijing and Washington is currently in a “secondary position”.
The strategist said that in the first presidential debate between Trump and his Democratic challenger Joe Biden, the two did not “openly” talk about China as he initially expected.