China sees V-shape recovery, says economist

China's economy has staged a V-shape recovery this year, showing strong resilience and risk resistance capacity, China Economic Net reported quoting Yao Jingyuan, a well-known economist.

Yao, former chief economist at the National Bureau of Statistics, made these remarks during the third China Capital Management Wuyi Summit held in Nanping city, Fujian province on Thursday.

Thanks to sound industrial and supply chains, since early this year, exports have made great contributions to China's economic growth, Yao said. Furthermore, infrastructure investment also posted growth for six months in a row.

Although the consumption growth is showing some declines due to the outbreak, the declines are limited, he said. Meanwhile, residents' savings are also increasing.

Macroeconomic control and measures by the central government have been proved scientific and efficient, Yao added.

Themed "New Pattern, Big Capital Management, Green Economy", the summit focuses on high-quality development of the capital management sector, and explores new theory, direction and path for green financial reform and innovation.