While fighting the COVID-19 pandemic, China has adopted several economic policies to help recover domestic and global economy, a Thai scholar has said.
“I think China’s latest COVID-19 policies were implemented based on accurate information, experience and real situations that China is currently facing,” said Pagon Gatchalee, lecturer of Department of Marketing at Chiang Mai University Business School, Thailand.
“The timing of adjusting to a more flexible approach to combat COVID-19 in China is suitable, as there were many signs that China has progressed gradually over the span of three years to a more flexible COVID policy,” he told Xinhua lately.
Besides the COVID policies the Chinese government has implemented during the past years, the scholar mentioned tax and fee reductions helping entrepreneurs and small and medium-sized enterprises (SMEs), and the dual circulation strategy that has not only boosted domestic market but also stimulated global demand.
“I was impressed by how China faced the pandemic at the beginning of 2020,” he said, adding that such an actionable policy on COVID-19 maintained and recovered the supply chain in the shortest time and also helped other countries by providing vaccines and medical aids.
“This helped especially poor and developing countries fighting the pandemic,” the scholar added.
Over the past three years, China has effectively responded to five global COVID waves and avoided widespread infections with the original strain and the Delta variant.
With China’s latest optimization of COVID-19 response, restaurants, shopping malls and cinemas nationwide have reopened and reported burgeoning foot traffic, a sign that experts believe bodes the revival of the country’s consumption market in 2023.
In Gatchalee’s view, the Chinese government’s science-based adjustment of its COVID policy “means a reasonable, practical and data supported approach.”
Based on the COVID-controlling situation and due to the dual circulation strategy, the resilient Chinese economy “will provide good opportunities for foreign direct investments” in 2023, he said.
“I’m sure that China’s economic growth will largely benefit ASEAN countries and also Thailand,” he added.