China’s consul general in New York pitches a positive economic outlook
- Huang Ping tells conference that ‘China is always above and beyond expectation’
- Others at the China Institute conference, though, say that government policies can only go so far in the battle to restore consumer confidence
Seeking to counter growing pessimism about China’s economy, a top Beijing diplomat on Tuesday rejected the narrative that the country’s once seemingly unstoppable economic machine has entered a period of structural stasis or decline.
Huang Ping, the consul general in New York, sought in bullet-point fashion to address common concerns of foreign investors, including whether it is safe for business executives to visit China, whether corporate data is safe and whether the economy remains open to the outside world.
“Without a doubt, yes,” Huang told attendees of the China Institute’s “Beyond Disruption” conference. “History can predict the future. China is always above and beyond expectation.”
Rolling out a slew of statistics – some dated – Huang argued that China remains resilient, particularly since it joined the World Trade Organization. Trade, economic growth, domestic demand and services are all looking up, he said, as China emerges from its Covid-19 lockdown.
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“The predictions of China’s economic collapse have consistently proven false,” Huang said, speaking to a largely sympathetic audience of China-linked companies and business groups. “The bullet train of China’s economy will keep forging on.”