China's industrial chain irreplaceable despite COVID-19: MOFCOM

Source:Globaltimes.cn Published: 2020/3/6 3:53:11

An employee checks operations of an automatic medicine-sorting machine at a logistics center in Lianyungang, East China’s Jiangsu Province. Photo: cnsphoto


China is home to the world's largest and most thorough manufacturing system, and is irreplaceable within the global industrial chain, an official from the Ministry of Commerce (MOFCOM) said at a press conference on Thursday. 

Li Xingqian, director of the Department of Foreign Trade of the MOFCOM said the coronavirus (COVID-19) outbreak has impacted international trade among China, Japan, and South Korea. 

Resuming work, returning labor, logistics, and supply chain stability have been disrupted, but Li believes the disruptions are temporary and the overall outlook on China' s long-term economy remains optimistic.

China accounted for over 30 percent of global output growth from 2013 to 2018, according to a report by the International Monetary Fund (IMF).  

"China has the world's biggest, most complete and best equipped manufacturing system, and its advantage is irreplaceable in the world," Li said. "China's foreign trade sector is resilient and has much room for growth. Its status in the global industrial and supply chain will not change."




Posted in: ECONOMY

blog comments powered by Disqus