The Chinese economy has maintained its recovery trend since the start of this year, as the strong resilience and attractiveness of the Chinese market continue to emerge. 

Chinese Foreign Ministry spokesperson Wang Wenbin made the remarks at a press conference held in June. Reports showed that nearly 60 percent of the U.S. companies are optimistic about China's economic recovery, Wang added.

U.S. Secretary of the Treasury Janet Yellen will visit China from July 6 to 9, China's Ministry of Finance announced on Monday. At the US-China Business Council meeting held last month, Yellen stressed the importance of both trade and investment with China, a source told CNN. 

In response to Yellen's speech, Shu Jueting, spokesperson of China's Ministry of Commerce, said that as the world's largest developing and developed country, China and the United States are economically complementary and benefit from each other's development.

The two sides should strive to promote the healthy and stable development of bilateral economic and trade relations, said Shu.

U.S. multinationals remain bullish on China

Before Yellen's planned visit this week, numerous U.S. multinational company executives, including Bill Gates, Elon Musk, and Tim Cook, have visited China this year. 

China's acceleration of innovative development is beneficial to China, to developing countries, and to the world, said Bill Gates, co-chair of the Bill & Melinda Gates Foundation during his visit.

Meanwhile, Tesla CEO Elon Musk praised China's development potential and vitality, expressed confidence in the Chinese market, and conveyed his willingness to expand the company's business in China.

Chinese market continues to attract foreign investment

According to the latest data released by China's Ministry of Commerce, actual use of foreign direct investment (FDI) in the Chinese mainland expanded 0.1 percent year on year in the first five months of 2023, reaching 574.81 billion yuan ($84.35 billion). In particular, FDI in manufacturing rose 5.9 percent year on year.

In the same period, 18,532 new foreign-invested companies were established in China, an increase of 38.3 percent from the previous year. 

In 2022, bilateral trade between China and the U.S. reached a record high of $759.4 billion, an increase of 0.6 percent over 2021.

(Cover via CFP)