The sudden new crown pneumonia epidemic has swept the world, disrupting people's normal life and the pace of world economic development. China is one of the most successful countries in the world in responding to the epidemic. I am deeply impressed by China's strong mobilization and execution capabilities, as well as the overall concept, dedication and optimism of the Chinese people. China has successfully used 5G, big data, artificial intelligence and other scientific and technological means to bring many conveniences to epidemic prevention and control, and it is worth learning from other countries in the world.
The epidemic has put tremendous pressure on world economic development. The epidemic has impacted the economies of various countries and the global industrial chain and supply chain, leading to shrinking market demand, weak international trade, further rise of trade protectionism, and deep obstacles to the development of economic globalization. The pandemic has also exposed the fragility and inequality of the global society. Although this inequality existed long before the epidemic, the outbreak of the epidemic has undoubtedly increased inequality, especially in the field of public health.
Fortunately, in this crisis, China has been a reliable partner in supporting the African continent. At the most difficult time in Africa, China provided practical help and support to African countries. It not only provided material assistance in batches, dispatched medical expert teams, and assisted African countries to purchase anti-epidemic materials in China, but also exempted some African countries. Loan debt.
The latest statistics show that China's economy in the second quarter of 2020 grew by 3.2% year-on-year. The policies issued by China on stabilizing employment, stimulating consumption, and safeguarding family income are correct and effective, and play an important role in promoting the recovery and development of China's economy. The Chinese economy has now shown a steady recovery momentum. During the epidemic, China also gave birth to many new working methods and business models, such as home office, online education, online medical care, etc., which accelerated the development of the digital economy.
The Politburo meeting of the CPC Central Committee held on July 30 this year proposed to accelerate the formation of a new development pattern in which the domestic cycle is the main body and the domestic and international dual cycles promote each other. The organic unification of the domestic and international dual cycles will not only help promote the prosperity and development of China's domestic economy, but also provide global investors with more opportunities for cooperation with China. By promoting the integration of domestic and foreign markets, China is opening its door to the world and allowing foreign investors to share in China's development dividends. China has huge development potential. I am full of confidence in China's economic development and believe that China can definitely help the world economy to recover and develop.
China is South Africa's largest trading partner, and South Africa is China's largest trading partner in Africa. South Africa is looking forward to deeper and extensive cooperation with China. Promoting economic and trade exchanges between South Africa and China in the post-epidemic period not only conforms to the common interests of the two countries, it helps to enhance the well-being of the two peoples, but also helps promote the prosperity of the regional economy and the recovery and development of the world economy.