China is set to deepen its commitment to global openness, signaling resilience amid evolving international landscapes. In a recent government work report presented to the national legislature, Premier Li Qiang outlined ambitious plans to enhance foreign trade and attract increased foreign investment.
Stabilizing Foreign Trade
The report highlights strategies to stabilize foreign trade by supporting enterprises in securing orders and exploring new markets. Key initiatives include improving financial services related to financing, settlement, and foreign exchange. Additionally, China plans to expand export credit insurance and provide greater support for businesses participating in overseas exhibitions.
To further boost cross-border e-commerce, the government will enhance logistics services for cross-border deliveries and accelerate the development of overseas warehouses. This move aims to streamline operations and make global trade more efficient.
Encouraging Foreign Investment
China is also ramping up efforts to attract foreign investment by promoting comprehensive trials and demonstrations in the service sector. Sectors such as internet-related services, culture, telecommunications, medical services, and education are set to open up in a well-regulated manner.
Foreign investors will benefit from national treatment, ensuring equal access to production factors, streamlined license applications, and fair standards setting. The government promises better services and support, expediting landmark investment projects to make China a preferred destination for international businesses.
New Growth Drivers
Emphasizing innovation, China plans to cultivate new growth drivers like green trade and digital trade. Localities with favorable conditions will receive support to develop new types of offshore trade, fostering sustainable and technologically advanced economic growth.
Major trade events such as the China International Import Expo and the Global Digital Trade Expo will be hosted with high standards, showcasing China's commitment to global economic integration.
A Thriving Business Environment
By fostering a market-oriented, law-based, and internationalized business environment, China aims to enable foreign-funded enterprises to thrive. These initiatives reflect China's dedication to reform and development through greater openness, positioning the nation as a pivotal player in the global economy.
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China to expand opening up, encourage foreign trade and investment
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