A worker is busy on the production line at the weaving workshop in an economy development zone in Lianyungang, east China's Jiangsu Province, Oct. 19, 2020. (Photo by Geng Yuhe/Xinhua)
In a turbulent 2020, China is expected to be a major economy in the world that will record positive growth, Swiss freight forwarder Kuehne+Nagel International CEO Detlef Trefzger told Xinhua.
"The third quarter GDP recorded another strong recovery. The market expectation is that the momentum will continue into the fourth quarter and 2021," he noted.
GENEVA, Nov. 3 (Xinhua) -- Swiss freight forwarder Kuehne+Nagel International is optimistic about China's economic recovery from the COVID-19 pandemic, its CEO Detlef Trefzger said, adding that the upcoming China International Import Expo (CIIE) would boost the country's domestic consumption and international trade.
In a turbulent 2020, China is expected to be a major economy in the world that will record positive growth, Trefzger told Xinhua in a recent interview.
"It provides hope and also a reference to the rest of the world (on) how to recover and manage this pandemic. The third quarter GDP recorded another strong recovery. The market expectation is that the momentum will continue into the fourth quarter and 2021," the CEO noted.
China's economy grew by 4.9 percent in the third quarter compared with a year earlier, up from a 3.2 percent growth recorded in the second quarter.
"Being part of the continuous China growth story is an important part of our global and Asia Pacific strategy," Trefzger said.
"We are seeing a resurgence of a second wave in other parts of the world, which will bring some uncertainty into play. However, the strong domestic economy should provide some support for the growth in China."
Photo taken on Nov. 3, 2020 shows mascots of the 3rd China International Import Expo (CIIE), in east China's Shanghai. (Xinhua/Chen Fei)
Trefzger expects that the third CIIE to be held in Shanghai on Nov. 5-10 would provide new business opportunities.
"At this year's CIIE, we want to showcase that through our strong capabilities in international logistics and our growing presence within China, Kuehne+Nagel enables our customers to work towards the goal of strengthening China's dual circulation development pattern, the domestic consumption and international trade," he said.
The CIIE serves as a platform for foreign companies to expand their business into China and aims to support trade liberalization and economic globalization.
"We have seen that China has made great efforts over the years in opening up for foreign investment, for example in the automotive and insurance industries," Trefzger said.
"There is room for further reforms by having an open dialogue with foreign countries to establish mutual trust and an open market that will be beneficial to all involved," he added.
The Kuehne+Nagel Group is one of the world's leading logistics companies and the biggest sea freight forwarder worldwide.
The company, headquartered in Schindellegi, Switzerland, and founded in 1890, counts approximately 78,000 employees in over 100 countries and regions.
Trefzger also said that the logistics and transport sectors had proven their vital role within the world economy during the pandemic.
"Kuehne+Nagel's resilient business model based on digital technology and the expertise of our teams prove to be exactly the right setup for these times of uncertainty," he added. "We are proud to say that Kuehne+Nagel was operational at any time during the pandemic. We made sure that international trade flows kept flowing."
"Good examples are the supply of personal protection equipment out of China, earlier this year, or the upcoming COVID-19 vaccine distribution, where we are ready to execute," he noted.
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