MOFCOM: The Impact of the COVID-19 Outbreak on China's Foreign Trade and Investment Temporary

At a press briefing organized by the State Council Information Office on 24 February, Assistant Minister of Commerce Ren Hongbin said that the impact of the COVID-19 outbreak on China's foreign trade and investment is temporary, and the long-term upward trajectory of China's foreign trade and the country's distinct advantages in attracting foreign investment remain unchanged. To ensure stability in foreign trade, China will further expand its policy toolbox and target international markets more effectively. The government will better identify and support businesses in need and facilitate the rapid growth of new business forms in foreign trade. China will deepen opening-up and seek closer communication and coordination with economic and trade partners. To ensure stability in foreign investment, the government will take steps to encourage the orderly resumption of operation by more foreign-invested companies and ensure sound implementation of major foreign investment projects. China will open up more sectors to foreign investment, enhance opening-up platforms, better protect the lawful rights and interests of foreign businesses, and continue to improve the business environment.