China’s Foreign Trade Sector has the resilience and growth potential to weather the impact of the novel coronavirus disease (COVID-19), a National Trade Promotion Agency said.

With strong competitiveness, a stable industrial chain and rapid development of new business formats, China’s foreign trade sector will remain sound growth momentum in the long term, said Gao Yan, Head of the China Council for the Promotion of International Trade (CCPIT).

While COVID-19 has brought uncertainties to trade development, China has rolled out a string of policies to stabilise the growth of the sector, Gao said in an interview with an official publication under the National Committee of the Chinese People’s Political Consultative Conference.

Citing a CCPIT survey on Foreign Companies operating in China, Gao noted that foreign firms are still bullish on the prospects of the Chinese Market.

The epidemic has brought fresh investment opportunities in sectors including medical science and artificial intelligence, Gao noted, adding that investment from countries along the Belt & Road has seen continued growth despite the epidemic.

“The epidemic may prompt investors in relevant countries to seek safer investment destinations, leading to further gathering of international industries in China,” Gao said.

The CCPIT will actively promote stable growth of the foreign trade sector, setting up online exhibition platforms to connect companies for business negotiations, Gao said.