With the further optimization of its COVID-19 containment measures this month, 
China is looking to boost its economy which has been under pressure for three 
years due to COVID-19.

China's annual Central Economic Work Conference, held in Beijing last week, 
demanded making economic stability a top priority and pursuing steady progress 
for 2023.

And analysts believe that China's economy will rebound and continue to be a 
reliable and important driving force of the global economy in 2023.

Many local governments arranged charter planes to send business delegations to 
meet overseas customers, stimulating enterprises to revive business.

Zhang Chunlong, a researcher at the Jiangsu Provincial Academy of Social 
Sciences, emphasized that regaining order is important, but what is more 
important is recovering economic confidence and vitality.

"We need to accelerate domestic and international economic circulation and 
development."

Keeping enterprises operational

In the past three years, the Chinese governments at all levels adopted a series 
of policies to keep enterprises operational amid recurrent COVID-19 waves.

To protect local chipmakers in eastern metropolis Shanghai, the municipal 
government allowed them to operate under a "closed-loop" system.

Chip manufacturers there ensured normal outputs despite a COVID-19 outbreak 
that started on March 28, when the city began to witness a rising number of 
Omicron infections.

Hua Hong Semiconductor Limited, China's second-largest chip producer, has 
accommodated more than 6,000 workers spread across five factories in Shanghai 
since March 27.

Wang Lijing, a Hua Hong worker, told China Media Group (CMG) in April that he's 
been staying in the factory for the past two weeks.

A Shanghai shipyard also resumed production on April 23 and delivered the 
world's largest Very Large Ethane Carrier (VLEC) on May 16.

For epidemic prevention and control, the shipyard set independent ventilation 
systems requiring on-board staff who tested positive for the coronavirus or 
confirmed as cases of COVID-19 infections to be under quarantine immediately to 
curb possible further spread of the virus.

Zhang Jian, deputy general-manager of the Jiangnan Shipyard, told CMG, "In the 
first stage, we resumed the normal delivery process at the wharf, and we plan 
to reopen all shipyard production lines by the end of May."

With effective COVID-19 measures, China's BYD dethroned Elon Musk's Tesla 
as the world's biggest electric vehicle (EV) producer by sales in the first 
half of 2022 with 641,000 sold vehicles.

Jeff Chung, an auto analyst with Citigroup, termed BYD's sales growth 
"impressive."

Chinese enterprises 'go abroad'

As China further eased COVID-19 restrictions in December, cities dispatched 
delegations to overseas markets for the first time in three years, to promote 
trade and secure deals.

East China's Zhejiang Province took the lead in recovering foreign trade and 
organized a group of around 100 delegates representing 50 enterprises to join 
in the 36th Asia Fashion Fair in Tokyo, Japan.

"A meeting in person is better than a thousand emails," Li Lin, deputy director 
of Foreign Trade Development Office, Zhejiang Provincial Department of 
Commerce, told CMG.

At the same time, cities in east China's Jiangsu Province, including Suzhou and 
Wuxi, southwest China's Sichuan Province and south China's Guangdong Province 
also sent delegations abroad for new opportunities.

"Going abroad is a must," said Wang Yuanpei, general manager of Wuxi Jiejin 
Precision Machinery Co., Ltd.

"International markets have experienced tremendous changes over the past three 
years and we are eager to communicate with our clients face-to-face to 
consolidate our relations."

Foreign companies' confidence in China

Foreign enterprises say they still find China an attractive destination for 
investment despite of COVID-19.

The 20th National Congress of the Communist Party of China has further boosted 
foreign enterprises' confidence in the market, according to a survey released 
on October 27 by the China Council for the Promotion of International Trade 
(CCPIT).

Among the over 500 foreign enterprises surveyed, 96.7 percent affirmed China's 
development achievements over the past decade and 96.9 percent expressed 
stronger confidence in the Chinese market.

In Q1 of this year, roughly 90 percent of foreign-funded enterprises were 
satisfied with China's policies concerning market access, promotion of market 
competition, access to business premises and financial services.

Also in 2022, China's leading automaker First Automotive Works and German 
automaker Audi launched a project to produce pure electric vehicles in the 
northeast Chinese city of Changchun, with a total investment of more than 30 
billion yuan ($4.7 billion).

Dr. Juergen Unser, president of Audi China, told CGTN that "the decision is 
very important to go with our trusted partner FAW into the Jilin Province."

"It clearly demonstrates our continuous commitment to the e-transformation of 
the Chinese automotive industry."

https://news.cgtn.com/news/2022-12-20/New-Approaches-How-China-stimulates-enterprises-to-revive-business-1fUEI1oqPM4/index.html


SOURCE: CGTN