Amid rising global protectionism and economic uncertainty, China, the world's second-largest economy, is boldly opening its doors wider to drive global growth. As multinational enterprises look to expand, China's commitment to openness is reshaping international investment and trade.
In early March, China is set to hold its annual Two Sessions, where key economic policies will be unveiled, signaling the nation's direction and engagement with the global market. In 2024, China lifted restrictions on foreign investment in manufacturing and introduced a nationwide negative list for cross-border services trade, marking significant steps toward institutional openness.
China's strategic openness extends to sectors like telecommunications, internet, education, culture, and healthcare. By aligning with high-standard international agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA), China is fostering a favorable environment for foreign investment.
The response has been overwhelmingly positive. According to the China Business Climate Survey Report by the American Chamber of Commerce in China, 48% of U.S. companies rank China as a top global investment priority, with 53% planning to increase investments by 2025. Deutsche Bank highlights that 2025 could be a pivotal year when China's investment prowess surpasses the rest of the world.
At the World Economic Forum Annual Meeting 2025 in Davos, Chinese Vice Premier Ding Xuexiang reiterated China's commitment to an ever-opening economy. "China's door of opening up will not be closed and will only open even wider," he stated, welcoming foreign enterprises to seize opportunities in China.
China's role as a top driver of global growth is further emphasized by its GDP surpassing 130 trillion yuan ($18.08 trillion) in 2024, a 5% increase from the previous year. The nation's leadership in goods trade, foreign exchange reserves, and manufacturing underscores its pivotal role in the global economy.
Dr. Zhang Xiaotao of the Central University of Finance and Economics notes, "China is not only a key driver for global economic growth but also an engine for global trade, investment, supply chains, and international cooperation."
The Belt and Road Initiative (BRI) continues to expand, fostering connectivity and facilitating trade and investment across over 150 countries and 30 international organizations. Projections by Bloomberg using IMF forecasts indicate that China will remain the top contributor to global economic growth over the next five years, outpacing all G7 countries combined.
Reference(s):
cgtn.com
