China pointed out that novel coronavirus pneumonia epidemic has been facing strong menacing this year and under the firm leadership of the Party Central Committee with Comrade Xi Jinping as its core, we have worked hard to win major strategic achievements in the fight against epidemic diseases. On this basis, the work of epidemic prevention and control and economic and social development was comprehensively promoted, the six stability work was done well, and the task of six guarantees was comprehensively implemented, which promoted the economic stability and recovery. On the basis of a year-on-year decrease of 6.8% in the first quarter and a year-on-year increase of 3.2% in the second quarter, Chinas economic growth accelerated to 4.9% in the third quarter and 0.7% in the first three quarters. The growth rate turned from negative to positive, the relationship between supply and demand was gradually improved, the market vitality was enhanced, employment and peoples livelihood were better guaranteed, and the national economy continued to recover steadily.
China pointed out that facing the future, China proposes to gradually form a new development pattern with domestic circulation as the main body and domestic and international dual circulation promoting each other. Taking the domestic big cycle as the main body, it is by no means closing the door to operate in a closed way, but by giving full play to the potential of domestic demand, making better use of the domestic and international markets and resources to achieve stronger and sustainable development. Under the current external environment of rising protectionism, global economic downturn and global market shrinking, we must give full play to the advantages of domestic super large-scale market, realize mutual promotion of domestic and international dual circulation by prospering domestic economy and unblocking domestic large circulation, so as to add impetus to Chinas economic development and world economic recovery. The dual cycle will bring broader market opportunities for multinational enterprises. We welcome more business people from all over the world to participate in economic and trade activities with China and share Chinas development achievements and growth opportunities.
According to the US China Trade Council, US enterprises in China believe that it is important for them to return to a stable and constructive track in Sino US relations. The vast majority of us enterprises support the first phase of Sino US economic and trade agreement, and nearly half of them recognize the progress made by China. The US business community has long-term confidence in Chinas market prospects and welcomes the Chinese governments series of reform and opening-up measures, and is willing to continue to take root in China and grow together with China.