After nearly three years of COVID-19 restrictions, China has reignited its global interactions in 2023, making \"opening-up\" a pivotal theme of the year.
In his 2024 New Year message, Chinese Premier Xi Jinping highlighted China's dual focus on domestic development and international engagement. From hosting the Third Belt and Road Forum for International Cooperation (BRF) to the China-Central Asia Summit and the China International Import Expo, China has demonstrated its commitment to fostering global partnerships. Notably, the BRF gathering in October facilitated Sino-foreign business agreements totaling $97.2 billion.
To enhance its business climate, China, a major trading partner of over 140 countries, introduced a series of measures in the past year. In August, the State Council unveiled guidelines featuring 24 initiatives aimed at boosting foreign investment. These include encouraging foreign firms to embark on science and technology projects, easing travel for senior executives and their families, and expanding pilot areas to further open up markets.
A survey conducted by the China Council for the Promotion of International Trade in November revealed that over 80% of 700 foreign companies were satisfied with China's business environment in the third quarter of 2023. Additionally, nearly 90% anticipate stable or increased profits in the country over the next five years.
China's unwavering dedication to high-level opening-up has been instrumental in its economic resilience. While the global economy grappled with post-pandemic recovery, China's GDP grew at a robust average of 5.2% year-on-year in the first quarter of 2023. Premier Xi emphasized in his New Year message that the Chinese economy has become more resilient and dynamic, having successfully weathered global economic challenges.
Reference(s):
cgtn.com
