Question: Does the "dynamic zero-COVID" policy undermine the global economy?

Spokesperson: The "dynamic zero-COVID" policy has not only protected the health and safety of Chinese people, but also effectively prevented the spillover of the outbreaks in China to other countries. It has helped to ensure the sustainable and balanced development of China's economy and the security of global industrial and supply chains.

China is the largest trading partner of more than 120 countries and economies in the world. In 2021, China's trade in goods exceeded 6 trillion US dollars for the first time, and the actual use of foreign capital surpassed 170 billion US dollars.

Since the beginning of this year, foreign investment into China has continued to grow in spite of COVID outbreaks. In the first four months of this year, foreign investment registered double digit increase of 20.5% on last year's already solid performance. Even faster growth was reported in high-tech sectors including information services, R&D and design, electronics and communications equipment manufacturing.

Over the same period, China added 185 large foreign-invested projects, each with foreign investment of more than 100 million US dollars, that is, an average of 1.5 such projects were launched every day. The recent announcement by some multinational companies to increase investment in China is a vote of confidence in China's economic development. It also shows the significant achievements China has made in expanding opening up and improving the business environment, and fully reflects that China, with its large market, complete industrial capabilities, strong infrastructure, and abundant human resources, holds strong appeal for foreign investment.

Also, the International Monetary Fund's latest decision to raise RMB's weighting in the Special Drawing Rights (SDR) currency basket is a sign that the international community fully recognises the progress in China's opening up and social and economic development.

Indeed, COVID-19 outbreaks have had an impact on China's economy, but such impact is temporary and peripheral. The Chinese economy will not change in its strong resilience, ample potential, large room for maneuver and long-term growth momentum, and will continue to play a strong role in global economy recovery.

Companies from across the world will also have more opportunities in China. We will continue to expand high-level opening up, further optimise services for foreign investment, make services more targeted and create more development opportunities for foreign-funded businesses.

China has the foundation, conditions, and capability to achieve the goal of its "dynamic zero-COVID" policy, and the Chinese people have every confidence to win the battle against COVID. We will make greater contributions to the global fight against the pandemic.