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China's economy is experiencing a "pretty solid V-shaped recovery" amid the COVID-19 pandemic that has crippled the world's economy, said BHP Group CEO Mike Henry to CNBC on Aug 26.
China's foreign exchange reserves, however, unexpectedly increased in July to .12 trillion despite the recent weakening of the renminbi, which will help stabilize investor expectations and anchor the renminbi, said Guan Tao, former director of the international payments department of the State Administration of Foreign Exchange.
China's experiences and practices are already helping to solve global problems. For example, Chinese EPCs (engineering, procurement and construction companies) have been working on projects in developing markets for years, with additional growth spurred by the Belt and Road Initiative.
China's circuit breaker arrangement for international passenger flights was tightened on Wednesday to contain the spread of COVID-19.
China's economy grew 6.6 percent year-on-year to reach 90.0309 trillion yuan in 2018.
