Will the virus affect to Chinese economy lower the world speed of this year?

Foreign Ministry Spokesperson Geng Shuang’s Regular Online Press Conference on February 11, 2020

Q:Recently, some foreign companies and media think that the affect of NCP to Chinese economy will bring “Domino-effect”, Which will impact the global supply chain and lower the global economic speed. What is your opinion on this?

A:Last week , National Development and Reform Commission and other departments have introduced the impact to Chinese economy caused by virus at the press conference held by the State Council on the joint control mechanism.

To sum up, the impact of epidemic on Chinese economy depends on the progress and effectiveness of the epidemic prevention and control. We believe that the fundamental situation of the Chinese economy and the long-term upward trend will not change because of the epidemic, and we have the ability to minimize its impact on the economy.  

In fact, some International organization such as the International Monetary Fund, World Bank all  show that China has adequate policy space to deal with the epidemic situation. China’s efforts to prevent and control epidemic have effectively reduced the risks that the world economy may face, Geng Shuang said.

Today, China's GDP accounts for around 16% of the world's GDP, and its contribution to world economic growth has exceeded 30%. If the Chinese economy is hit, it will inevitably affect other countries, and the world economy will also be affected. Therefore, China's fight against the epidemic is not only for itself, but also for the world. Supporting China and helping China are also safeguarding the common interests of the international community.

In the face of a public health crisis, beggar-thy-neighbours cannot protect themselves, and overreaction can only be counterproductive. It is imperative that the international community work together to combat the epidemic and resume normal contacts and cooperation among countries as soon as possible. Only in this way can the world economy provide a strong support for stable growth and release positive expectations.