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Wednesday, June 17, 2020

Better economic situation in China

From the beginning of 2020, China has been fighting against the outbreak of the disease in 1920.  In the face of the outbreak of the disease 19, President Xi Jinping led China to look at the real situation, develop relevant strategies and plans, take action, and act with the aim to promote the prevention and control of the disease 19 and the socio-economic development.  From the first quarter of this year, the work on prevention of the disease has achieved a major stage of rapid socioeconomic order, which shows that the Chinese economy is tough, which could turn into a crisis opportunity and face.  Long-term goodness.
The disease has been steadily eased, strong points of economic growth have been seen, and the spread of the disease has been prevented in China.  Promoting the environment and basic sectors and important products has been increased smoothly, basic livelihoods of people have been well supported, stable socio-economic development.  Prevention and Control of Coverage 19 has been achieved in stages.  The socio-economic order has recovered and the decline in key indicators has slowed.
 The restructuring of industrial production and markets is accelerated and expanded.  Significant projects re-reached 92% by the end of March, reaching the same period last year.  Employment situation is generally stable.  By the end of March, across the country, 99.3% of industrial enterprises with turnover exceeding 20 million yuan had recovered 91.5% of the workforce.
 The supply of products is generally stable.  In the first quarter, agricultural prices increased by 3.5% year-on-year.  The spring-season rice fields are smoother, the wheat and the vegetable oil harvested during the winter of the year have improved, the acreage has been extended, the pigs have recovered, the stockpiles are sufficient.
 The basic livelihoods of the people are effectively protected.  The supply of sufficient materials is generally the basic industrial products maintained, the production and supply of essential medical supplies sufficient to sustain normal life.  The March Commodity Price Index (CPI) rose 4.3% year-on-year and dropped 0.9% year-on-year in February.
 Financial markets remain stable.  At the end of March, the M2 supply balance increased by 10.1%, compared with the end of last month, up 1.3% in stable foreign currency reserves.  At the end of March, the foreign exchange reserves stood at US $ 3060.6 billion, surpassing US $ 3 trillion, the Chinese exchange rate was generally stable.
 The movement of new energy has increased by reversing the trend, growth of new industries and new products.  In the first quarter, the number of online retailers nationwide increased by 5.9% compared to the same period last year.  In March, the value of the new strategic industries and high-tech production increased by 5.9% and 9.0%, respectively.
 The enterprise's expected goals have improved.  In March, Purchasing Managers' Index (PMI) of production was 52%, compared with the previous month, up 16.3%, Non-manufacturing business activity indefinite, up 52.3%, up 22.7%.

 Acting on measures and policies to respond to the economic downturn effectively during the epidemic, the Chinese government increased its policy strength and took measures for economic recovery and preventing the epidemic.  Much to reduce difficulties and to reduce the impact of the spread on the economy, practical and good results will provide useful references for countries.
 Strengthen and enhance the effectiveness of the prevention and control of the spread of the disease 19  Stresses the need to "prevent external input, prevent recovery in the country", take timely and effective prevention and control measures.
 Increase coordination and implementation of macroeconomic policies.  Provides special debt, preferential size of the sub-national school, increases tax deductions and discounts, increases credit limits and new minimums for 1,000 billion small and medium banks.  Reducing the reserve ratio of small and medium banks, further supporting financial institutions, distributing 300 billion microfinance and micro finance institutions, and introducing companies to accumulate more than 1 trillion yuan in debt.  Last year, small and medium-sized enterprises (SMEs) were able to mobilize an annual total of 800 trillion yuan in Chinese accounts.

 Stimulate the enterprise to resume production.  Introducing a range of additional support initiatives aimed at boosting the production and standard of living.  Good management of agricultural production ensures productivity and transport.  Encourage vibrant private enterprises to support the transformation of private enterprises and sustainable growth.

 Take many steps to keep the job stable.  Increasing support for vocational training encourages high school graduates to work in the field, endeavoring to get their workforce closer to the site.  Establish an integrated system to ensure job security and job search services, etc.  Providing opportunities to access job training online in flexible working situations.
 Stimulate the toxic potential of the domestic market.  Accelerate the progress of large-scale investment projects, create and expand online trading, new growth points, increase the purchase of cars and large goods to stimulate the trading of frozen goods and services.
 Support production improvement.  Increasing long-term and medium-term credit to the manufacturing sector, improving the level of the production line, increasing the production efficiency, creating an online industry system.  Pay close attention to these three important tasks: win jobs, reduce poverty, avoid the emergence of systemic risks, enhance management and sustain the environment in a sustainable way.

 Deepen the adjustment to maximize openness.  Working hard to improve the efficiency, management and service delivery of high standard market systems, maintain the basic level of foreign trade, support the acceleration of new foreign trade formula development.  Such as cross-border e-commerce and trade-in-the-market, stimulate a number of developmental models of trade innovation, maintenance services, and trade promotion.  Launching a list of investment rejections for foreign investors by 2020, expanding the list of industries that encourage investors to step in.
 Deepening of national strategy and important state work, realization and realization.  Promoting socio-economic development in Hu Bei province with the aim of deepening and coordinating development between Beijing, Tian Jin and He Bei provinces, accelerate implementation of new project, Xiong An, build ecological and green zones  The Yangtze River meets high standards.
 To work for the good of the people.  Ensure food and energy security provides effective protection for the challenges of people's lives, such as reducing people's incomes and rising prices, in an effort to fill the gaps in public health.

 China's economic recovery will bring hope to the world Over the years, China has always been a key driver of global growth.  The cholera outbreak has posed a serious challenge to the Chinese economy.  Due to better containment and control, the condition of the coronavirus 19 has returned to a better track, with the production line also showing signs of a strong Chinese economy heading towards recovery.  This toughness is due to the rich resource base and completeness of the industrial system which has long since been combined with effective, timely and effective adjustments of the political system are able to mobilize the country to achieve it.  The underlying causes make these tasks remarkable.  China's economic recovery has boosted confidence in global markets, encouraged global economic recovery and has become a positive and stable factor for the world economy's gradual recovery.  China's economic recovery and the support mechanisms laid out have not only accelerated the global supply chain, but have also made China an increasingly important player in the global market.

 In the face of the virus, China has provided the necessary support and assistance in the prevention and control of the virus to the international community.  The rebounding Chinese economy will also provide strong support for international cooperation, including Cambodia in the prevention and control of viral diseases and the strengthening of the economy.  Prime Minister Hun Sen made an emergency visit to Beijing while China was in the throes of a crisis - a key point of the China-Cambodia joint fate.  Since the outbreak of the HIV virus in Cambodia in 19 years, the Chinese side has been providing assistance to Cambodia in time to dispatch Chinese medical experts to Cambodia.  The Chinese National Schools, Enterprises, and Civil Society Associations provide medical supplies to Cambodia.  While China is experiencing an epidemic of cholera 19, China has coordinated with Chinese enterprises to transport raw material for the garment sector to Cambodia to help Cambodian enterprises reduce the risk of developing the disease.  Stop production.  Helping one another in difficult times, China and Cambodia all agree.  China has demonstrated its commitment to contain the virus with the Royal Government of Cambodia and the Cambodian people through practical, as well as shared efforts to maintain public health security in the region and added momentum to the sustainable development of the country.  Cambodia's economy and society.  Winter is over, spring is coming.  The global economic trend is constantly evolving and the virus is only temporary.

 President Xi Jinping told a special summit between the G20 leaders on the response to Kuwait 19 that as long as we are united with one another and help one another, we can certainly fight the virus with  Success and human development are even better.  China always adheres to the vision of a shared destiny of humanity, turning economic strength into a step forward in tackling the problem with the Cambodian people to eradicate the virus.  China contributes Chinese intellectual property, Chinese experience and strength to sustaining the recovery and sustainable development of the global economy.

 Wu Guoquan, economic and commercial adviser to the Chinese Embassy in Cambodia

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