China is set to become a powerhouse for international businesses as the country focuses on developing new quality productive forces and promoting high-quality development. According to Zheng Shanjie, head of the National Development and Reform Commission, these initiatives will inject strong impetus into global economic recovery and growth.
At the China Development Forum 2024 in Beijing, Zheng outlined China's commitment to accelerating the development of new productive forces through technological innovation. This includes boosting industrial innovation, upgrading traditional industries, and fostering emerging sectors such as biomanufacturing, commercial spaceflight, new materials, and the low-altitude economy.
China plans to integrate digital technologies into the real economy and combine advanced manufacturing with the modern service industry. The country is also set to launch the \"artificial intelligence (AI) plus\" initiative, which aims to create new growth engines in fields like quantum technology and life sciences.
Further efforts will be made to optimize the business environment, pursue higher-standard opening up, and strengthen international sci-tech cooperation. The formulation of the 2024 negative list for foreign investment is expected to accelerate, making it easier for international businesses to invest and operate in China.
With robust macroeconomic policies taking effect, China's economy has shown significant improvement in industrial production and domestic demand this year. Zheng expressed confidence that China has the capabilities and conditions to meet its 2024 development goals, positioning itself as a key player in the global economic landscape.
Reference(s):
China's development creates opportunities for international businesses
cgtn.com
