An employee of Semiconductor Manufacturing International Corp works at the company's factory in Beijing. Photo: Xinhua

As the world's factory, China's position in global manufacturing won't change, Gao Feng, the spokesperson of the Ministry of Commerce, said on Thursday to refute the rumor that China's "days as the world's factory" are over. 

China has remained the world's largest exporter in global trade for 11 consecutive years, and is the only country to have all industry varieties categorized by the United Nations industry classification system, Gao said, noting that "China's manufacturing industry has deeply integrated with the global industry chain. 

Despite the coronavirus pandemic, "Made-in-China" has withstood all trials and successfully maintained the stability and security of the world's industrial and supply chains by practical action, the spokesperson said. 

Statistics have shown that China still remains a major destination for global investors because of the country's rich and high quality labor resources, mature industrial support and infrastructure, as well as a lucrative domestic market with 1.4 billion people, he added. 

"The comprehensive competition advantages of China have not changed. The trend of steady and long-term economic growth has not changed," Gao noted. 

Even under worsening China-US relations, Gao said US investors and enterprises still have confidence in the Chinese market, as shown by new Chinese projects initiated by Starbucks, Costco and Tesla. 

According to the latest member survey by the US-China Business Council, US firms are confident in the future of the China market: 91 percent of US companies indicated their China operations are profitable; nearly 70 percent of respondents expressed optimism about market prospects in China; and 87 percent said they have no plans to shift production out of China. 

Considering factory costs, some enterprises have adjusted their global industry layout, which is normal under the market economy, Gao said. 

If there were some swings away from China in areas such as computer hardware, audio visual and tech exports, China has a strategic focus, such as in the energy, mining and infrastructure equipment space, of which they are actually gaining export market share, in part fueled by the Belt and Road Initiative, according to a report sent by Baker McKenzie to the Global Times. 

Gao added that China will look to push forward a higher level of opening up, promote the country's business climate and play an effective role in stabilizing the global industrial and supply chain. 

Global Times