CGTN: China takes concrete action in boosting global economic recovery

BY PR Newswire | ECONOMIC | 09/19/22 12:33 PM EDT

BEIJING, Sept. 19, 2022 /PRNewswire/ -- At the recently concluded Samarkand summit of the Shanghai Cooperation Organization (SCO), China expressed its readiness to work with the global countries to deepen practical cooperation in areas such as trade and investment, infrastructure, and maintaining the stability of supply chains.

Efforts are already under way. The International Forum on Resilient and Stable Industrial and Supply Chains began in Hangzhou, capital of Zhejiang Province in east China on Monday.

Serving as a platform where global industrial insiders can boost exchanges and cooperation, the forum aims to improve the resilience and stability of global industrial and supply chains by promoting experience sharing and building a broad consensus, according to Zhejiang Provincial Government.

Vital guarantee for promoting world economy

China attaches great importance to maintaining the resilience and stability of industrial and supply chains and has called on the global society to jointly build and share global industrial and supply chains on many occasions.

In his congratulatory letter to the forum, Chinese President Xi Jinping also noted that maintaining the resilience and stability of global industrial and supply chains is a vital guarantee for promoting the development of the world economy and serves the common interests of people globally.

China will unswervingly ensure that the industrial and supply chains are public goods in nature, safeguard the security and stability of its industrial and supply chains, take concrete actions to deepen international cooperation on industrial and supply chains, and make sure that people of all countries share the fruits of development, he said.

China ready for more effort

During the first half of the year, solid effort has been made to smooth the industrial and supply chains, consolidating the recovery momentum of the industrial economy as factory activities were disrupted, and logistics bottlenecks emerged in some regions due to the epidemic, according to the country's Ministry of Industry and Information Technology (MIIT).

Thanks to the effort, the industrial economy maintained recovery growth. From January to July this year, the added value of industrial enterprises above designated size increased by 3.5% year on year, as per the ministry.

Xi said in the letter that China is willing to work with other countries to seize the new opportunities presented by the latest scientific and technological revolution and industrial transformation and build a global industrial and supply chain system that is secure, stable, smooth, efficient, open, inclusive, and mutually beneficial.

https://news.cgtn.com/news/2022-09-19/Xi-sends-congratulatory-letter-to-forum-on-industrial-supply-chains-1dse5hIiRIQ/index.html

Cision View original content:https://www.prnewswire.com/news-releases/cgtn-china-takes-concrete-action-in-boosting-global-economic-recovery-301627371.html

SOURCE CGTN

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article