(Economic Observation) Multinational companies have increased confidence in China's economy after the epidemic

  China News Service, Beijing, November 13 (Reporter Li Xiaoyu) The fear that the epidemic will shake China's economic status now seems unnecessary.

Multinational companies participating in the 2020 Annual Meeting of the China Development Forum believe that China's status and influence in the world economy under the epidemic has not declined but increased.

  "The importance of the Chinese market is not only in its huge volume, but more in becoming a global innovation engine", Starbucks President and CEO Kevin Johnson said, China’s dynamic and competitive market environment, Companies must be highly sensitive to market changes and strive to lead industry changes with innovation.

  He said that Starbucks has never wavered in its determination to develop in the Chinese market for a long time, and even more determined.

In March of this year, Starbucks announced an investment of approximately US$130 million to build a coffee innovation industrial park in China. This is the company's largest production strategic investment outside the United States.

  Oliver Bate, chairman and CEO of Allianz Insurance Group, also believes that China is now the "most innovative country" in the world, and technology trade is very smooth.

  "We have full confidence in China's economy, market sustainability, and high-potential development. This confidence has actually been strengthened during the epidemic." ZF Group Management Board Chairman and CEO Wal Hanning ·Scheder said.

  This change is mainly due to China's efficient epidemic prevention and control.

As Kevin Johnson said, China’s epidemic prevention and control measures are comprehensive and precise, and are the first to basically cut off the spread of the virus in the country.

Therefore, compared with other global markets, the recovery of the Chinese market is progressing "very smoothly."

  According to official data, China's gross domestic product (GDP) has recorded a year-on-year growth of 0.7% in the first three quarters, turning from negative to positive for the first time during the year; the year-on-year growth rates of imports and exports and investment also turned positive.

Many international organizations predict that this year, China may become the only country in the world that can achieve positive economic growth.

  In addition, China proposes to build a new development pattern in which the domestic and international dual cycles are the mainstay and the domestic and international dual cycles promote each other. This also allows multinational companies to see massive new opportunities and strengthens their confidence in deepening China.

  Walhanning Schaid said that in recent years, China has been opening up the market, such as negotiating and signing more free trade agreements, reducing the negative list of foreign investment access, and strengthening intellectual property protection.

The mutual promotion of the domestic and international dual cycles means that China will further expand its opening up, which will enhance the ability of multinational companies to take the local as the center and "locally and globally".

Under this structure, companies like ZF can use more resources to optimize the industrial chain and supply chain layout, and improve the company's overall operating efficiency.

  PricewaterhouseCoopers Global Chairman Luo Haozhi said that affected by the epidemic, the globalization model that has lasted for more than 30 years is changing, and people are facing unprecedented severe challenges.

Under this circumstance, more than ever before, international cooperation needs to be strengthened, and sustainable economic growth and development need to be promoted. The dual cycle proposed by China is the way to achieve this goal.

  Analysts said that under the new dual-cycle development pattern, China's domestic market and the international market will achieve better connectivity and become a more open and resilient economy.

This will not only promote the high-quality and sustainable development of China's economy, but also drive the world to follow the same path.