Chongqing- China’s 2020 Government Work Report has been released during the Two Sessions concluded on May 28. For the first time ever, China has set no GDP growth target due to the global pandemic and trade and economic uncertainties. In this year’s Government Work Report, China is going to drastically shorten the negative list for foreign investment and will work actively to expand imports and foster a large globally-oriented market of a higher standard.
On May 28, iChongqing interviewed Mr. Paul Sives, Chairman of Southwest China Chapter of European Union Chamber of Commerce in China (EUCCC) to hear about his point of view on Government work Report, especially in the foreign investment sector.
“It’s interesting that China set no GDP growth target this year but it’s understandable.” Mr. Sives Said. The COVID-19 outbreak has a massive impact on the demand for goods worldwide. The impact on global growth will impact China. “Setting a growth target in this kind of environment is impractical. I can see there is more focus on internal growth. China wants to support companies in China, that’s not only Chinese companies, but also foreign-invested companies. ” He said.
From Mr. Sives’s perspective, the economy around the world has been severely impacted, but that doesn’ t stop China from trying to open up more. “There are massive opportunities for China to look into itself how opening up can benefit foreign companies and businesses which are already here. There are many European companies that are active here, many of them are hoping for further opening up. ” He said.
In the interview, Mr. Sives shared his opinions on the messages the foreign companies can pick up from the government work report as well as the prospect for China’s foreign investment environment after the epidemic. Click the video to watch the full interview.
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