New York Chinese Consul General on Economic Pessimism: "China Always Exceeds Expectations"
The Chinese Consul General in New York rebutted the economic pessimism about China by stating, "China always exceeds expectations," and offered a positive outlook.
On the 4th, Hong Kong's South China Morning Post (SCMP) reported that Huang Ping, the Chinese Consul General in New York, attended the 'Beyond Disruption' conference held in New York the previous day, emphasizing, "We can predict the future through history," and stating, "China has always exceeded expectations."
Consul General Huang cited numerous statistics, saying, "Since China joined the World Trade Organization (WTO), it has maintained resilience," and asserted, "As China emerges from COVID-19 lockdowns, trade, economic growth, domestic demand, and services are all on the rise." He continued, "Predictions of China's economic collapse have repeatedly been proven false," and stressed, "China's economic high-speed train will continue to advance."
Regarding the U.S. moves to exclude China from supply chains, such as semiconductor export restrictions, he explained, "The interests of China and the U.S. are closely intertwined," and added, "Decoupling or so-called 'risk removal' will ultimately harm American companies."
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However, according to SCMP, Huang's claims were contradicted by a survey conducted by the American Chamber of Commerce in Shanghai (AmCham) displayed on a side panel during the event's break. The recent survey found that member companies are not very optimistic about new investments in China. At the time of the survey, 130 companies, accounting for 40% of all respondents, said they would reconsider investments in China. This is a 6 percentage point increase from the same survey last year (34%). Additionally, 22% of respondents said they are reducing their investment scale compared to the previous year. Eric Jing, Chairman of AmCham Shanghai, described China as "overall a very challenging market."
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