How China stimulates enterprises to revive business

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How China stimulates enterprises to revive business


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.To get more china business news, you can visit shine news official website.

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.

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