Online purchases are helping to keep China's economy on a growth track. China has lowered reserve requirements, making it easier for banks to lend, and nudged lending rates lower through other means. With China’s overall outlook still promising, Hong doesn’t expect multinationals to pull out entirely – a view that was echoed by other forum speakers (see related post here). China’s domestic market will be “more important for Chinese companies and even for U.S. companies,” he said, citing Tesla. China, he said, is “becoming a global consumption market that many global conglomerates want to be in.”See related story:IMAX Back On Track In China: Forbes China Forum@rflannerychina@forbes_cn

Source: Forbes September 14, 2020 06:22 UTC