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As the novel coronavirus outbreak abates domestically, poverty relief officials in Central China’s Hubei province pledged on Monday to do their utmost to cut unemployment and help sell farm produce in a bid to end poverty on schedule.

As the nation completes its journey to becoming a high-income country in a historically short period, part of the debate will center on whether this could have been achieved without a centrally planned economy.

As the world's second-largest economy, the country has a huge domestic demand potential with 1.4 billion people, 1 billion smartphone users and a middle-income group of 400 million. China's digital economy stimulates new domestic consumption demand such as 5G network construction along with the two-thirds of the world's high-speed rail transportation.

As we note in our recently released Regional Economic Outlook, the Asia-Pacific region remains the main engine of the global economy, and near-term prospects have improved since our report of October 2017. But there are many risks on the horizon, including a tightening of global financial conditions, a shift toward protectionist policies, and an increase in geopolitical tensions. In addition, over the longer run, Asian economies will face major challenges from population aging and slowing productivity growth, as well as the rise of the digital economy, which could yield huge benefits but also bring major disruptions.

As the pandemic has slowed his career progression, Zhao has thought about ways to overcome the obstacles.