Wang agrees. "Consumption is upgrading. It has become more sensible and pragmatic, with the previous practice of people showing their wealth with things they use gradually fading. In its place, there is this pursuit of quality inexpensive products."
Wang Xiaohui, executive deputy head of the Publicity Department of the Communist Party of China Central Committee, speaks on Thursday at the China-Europe Forum on Reform and Globalization in Madrid, Spain. KUANG LINHUA / CHINA DAILY
Wang Xiaolu, a senior researcher with the National Economic Research Institute, said: "SMEs are the main driving force of the country's productivity and the main stabilizer for employment and the industrial chain. Supporting SMEs is crucial to reducing vulnerability and ensuring a steady economic recovery in the coming months."
Wang Yiwei, a professor of international relations at Renmin University of China, said in an article published in the People's Daily Overseas Edition on Wednesday that the Chinese and EU leaders' strategic communication on important issues will help foster new areas for bilateral cooperation.
Wang Licheng, owner of Eco Fish Products Inc in the fish processing industrial park, was especially delighted by the river port that, when completed, is expected to boost cruise ship tourism in the Mississippi River, which he hopes will also bring more people to visit the industrial park area.
Wang said the lockdown imposed by many countries had made it impossible for his clients to make payments at banks, which made transactions impossible.
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Wang made the remarks when asked to comment on the strategy that involves the United States, Japan, India and Australia, and whether he believes it aims to contain China or offset the Belt and Road Initiative.
Wang also said that China disagrees with the measures adopted by individual countries that hype up tensions and even create panic.
Wang Luo, director of the Institute of International Development Cooperation, responsible to the Chinese Academy of International Trade and Economic Cooperation at the Ministry of Commerce, said, "The railway has been an economic catalyst for eastern and southern African nations and a symbol of the friendship between China and Africa."
Wang made the remarks during a meeting with Indian External Affairs Minister Sushma Swaraj on the sidelines of the Formal Meeting of the BRICS Ministers of Foreign Affairs in the South African city.