日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Epidemic impact on China to be limited

By Zhong Nan, Zhou Lanxu and Chen Jia | China Daily | Updated: 2020-02-12 07:37
Share
Share - WeChat
A port employee directs a cargo vessel from South America during its docking process in Qingdao, Shandong province, last week. [Photo by Zhang Jingang/For China Daily]

Global firms: Consumption slowdown to be offset by strong fundamentals

The impact of the novel coronavirus epidemic on China's economy will be temporary and will not change the fundamentals of the country's long-term economic growth, said executives of global companies on Tuesday.

"We are confident that China will not only overcome the difficulties and win the anti-epidemic battle, but have the ability to minimize the impact of the epidemic on the economy," said Wang Renrong, executive director of Budweiser Brewing Co (APAC).

The slowdown in the consumption sector should not cause alarm, said Wang, stressing it has been widely agreed that the Chinese economy has done well in shifting from high-speed development to quality growth.

Many business units of the Belgian company resumed work on Monday under a flexible work arrangement, to maintain routine operations.

China's tax authorities published a document on Tuesday containing a set of policies to ease tax burden for individuals and corporates during the novel coronavirus outbreak, including exemptions of individual income tax and value-added tax for certain taxpayers.

Companies that provide key supplies for controlling the epidemic, will receive full refund of the tax credits of the incremental value-added taxes. The VAT on income from the transportation and express delivery of the epidemic control supplies will be canceled, according to the document.

"Based on the experience from the SARS crisis in 2002-03, we can foresee a quick rebound of the Chinese economy in terms of recovery of inventory, restocking demand, uplift of consumption of goods and services after the freeze," said Denis Depoux, managing director for China of global consultancy Roland Berger.

The economic growth will also get strong fiscal and monetary support from the government; and local infrastructure investment, financed by special bonds, as in 2019, will support the economy, he said.

More foreign businesses have resumed production as scheduled and others are asking employees to work from home. Factories owned by Tesla Inc, Cargill Inc, Samsung Electronics Co and SK Hynix all resumed production across China on Monday.

The government will prioritize demand for product of foreign-funded enterprises that produce protective goods and equipment such as medical protective clothing, facial masks and goggles, to promptly resume production and meet the market demand, as well as help them gain necessary protective materials, said a circular unveiled by the Ministry of Commerce on Monday.

Even though the services sector, in particular tourism, catering, transport and retail segments, bears the brunt this time, Wang Tao, chief China economist at Swiss bank UBS, said the company expects fiscal policy to provide tax relief for affected businesses, especially small-and medium-sized enterprises, targeted support for affected households and areas, and additional boost to infrastructure investment.

"As the coronavirus is a one-off negative shock, we expect China's GDP growth to rebound to 6 percent in 2021 as activities normalize," said Wang, adding China's long-term trend of moving toward a more consumption-oriented economy, of rising services share in the overall economy, and of technological upgrade will continue.

Liu Yuanchun, vice-president of the Renmin University of China, said capital, labor and technology advances are known as the key determinants of an economy's long-term development. The epidemic will not cause fundamental changes in how capital and human capital accumulate in China, and will make people attach greater attention to technological advances.

In the short term, the strong resilience of the economy will help it to defend itself against any disruptions caused by the epidemic, Liu said, citing China's institutional advantage in concentrating its resources to accomplish major tasks, strong production ability, vast domestic market and rich policy tool kit.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 欧美日韩在线观看视频 | 久久偷拍人 | 四虎精品8848ys一区二区 | 精品一区二区三区视频 | 好爽~好硬~好紧~蜜芽 | 四虎影院在线播放 | 国产精品揄拍100视频最近 | 中文字幕电影在线观看 | 久久天堂av| 一级a级国产不卡毛片 | 久久中文字幕美谷朱里 | 亚洲精品自拍 | 欧美日韩免费在线观看视频 | 色a综合 | 91高清网站 | 日韩在线观看第一页 | 精品无人乱码一区二区三区 | 三级网站在线看 | 东京不太热在线新视频 | 波多野吉衣一区二区三区四区 | 欧美激情视频一区二区免费 | asian gaysex| 96国产精品久久久久aⅴ四区 | 国产成人小视频在线观看 | 91在线视频观看 | 欧美日韩在线一区 | 亚洲国产婷婷香蕉久久久久久99 | 日本一区欧美 | 日本永久视频 | 国产精品中文字幕在线观看 | 一个看片免费视频www | 国产精品亚洲片在线观看不卡 | 婷婷五月色综合 | 欧美成年性h版影视中文字幕 | 亚洲日本中文字幕永久 | 久久国内精品 | 亚洲欧美bt | 亚洲国产精品久久综合 | 色综合久久久久久久久五月性色 | 日韩视频在线播放 | 美日韩免费视频 |