China’s economic recovery reveals its wisdom in governance

Citizens visit an ancient town in Huaibei, East China's Anhui Province on Aug. 28. Photo by Wang Yuanyuan/People's Daily Online

China witnessed surging consumption during the just-concluded National Day holiday, with pick-ups of various economic data. It demonstrated the country’s achievements in epidemic prevention and control, as well as the resilience and vitality of the Chinese economy.

During the 8-day National Day holiday, more than 637 million people traveled within China, up 79 percent from a year ago on comparable basis. The box office revenue of the country during this period hit 3.92 billion yuan ($581 million), and tourism revenue 466.56 billion yuan. Besides, sales of key retail and catering firms monitored by the Ministry of Commerce (MOC) totaled 1.6 trillion yuan.

Such performance came from people’s enthusiasm for consumption, which was indicated by the crowds at scenic spots, restaurants and cinemas across the country. Bloomberg reported that the past Golden Week holiday displayed China’s confidence in its economic rebound and its public health measures.

Such performance proved that China’s decision to fight and win the battle against the epidemic by mobilizing all resources and blocking the spread of the virus was right and visionary. Chinese President Xi Jinping stressed that the decision required enormous political courage. “But time calls for resolute action. Otherwise, there would be trouble,” he said.

It was because of China’s decisive actions and efforts to combat the virus that the country has achieved the long-term economic and social stability. It contains excellent governance wisdom and called for significant amount of courage.

Such performance proved that the strategy to coordinate epidemic prevention and control and economic and social development was completely right, and demonstrated the institutional advantage of China. The country has always maintained balance between epidemic prevention and control and economic and social development, rather than separating them. Epidemic prevention is able to facilitate economic development, while economic recovery is a material foundation for epidemic control. Facts proved that the “dual approach” to address both epidemic prevention and control and economic recovery has succeeded in guaranteeing a “dual victory”.

There’s a Chinese saying that when the year turns cold, pines and cypresses reveal their persistent green. It also applies to the evaluation of countries. Chinese economy has withstood the pressure test of the pandemic, which fully indicated its strong resilience and anti-risk ability, and demonstrated the wisdom and capacity to safeguard economic development and handle complicated situations of the Communist Party of China Central Committee with comrade Xi Jinping at the core.

The world is going through profound changes unseen in a century, and COVID-19 is accelerating these changes. China will face more severe external situations, but its achievements in fighting the virus and securing economic recovery has proved that the country is totally able to progress in adversity and achieve its goals.

The Chinese economy has always been developing despite troubles. The pandemic not only failed to crush it, but also made it stronger, gathering more unity and confidence for the Chinese society. Facing risks, the Chinese economy will keep moving forward against headwinds and maintain the momentum for growth.

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