China's Commitment to Expanding Opening-Up and Welcoming Foreign Investment

China is set to introduce more measures to expand its opening-up and attract additional foreign investment in 2025, according to the Ministry of Commerce (MOC). MOC official Li Yongjie announced at a press conference that efforts will be made to further ease market access. She highlighted that after completely removing restrictions on foreign investment in the manufacturing sector last year, China will now focus on opening up its services sector, particularly through pilot programs in telecommunications, healthcare, and education.

Li also emphasized the importance of optimizing China's business environment. She pledged to continue promoting the "Invest in China" campaign and improve services for foreign-invested enterprises. Efforts will be directed at resolving issues faced by these enterprises in areas such as qualification licensing, standard setting, and government procurement. Additionally, Li called for the development of high-level opening-up platforms that align with international economic and trade rules, aiming to enhance the quality and efficiency of China's pilot free trade zones.

China Achieves 2024 Growth Target, Bolsters Global Economy

China's economy achieved its 2024 growth target despite a complex domestic and global landscape, providing much-needed certainty and confidence to the global economy. According to the National Bureau of Statistics (NBS), China's GDP grew by 5 percent year-on-year in 2024, reaching 134.9084 trillion yuan (about 18.77 trillion U.S. dollars). The growth rate accelerated to 5.4 percent in the fourth quarter, driven by pro-growth measures. An official noted that China's potential economic growth rate remains at a medium-to-high level, demonstrating the resilience of the world's second-largest economy.

China to Deliver More Surprises to World Economy: FM Spokesperson

China will continue to focus on high-quality development and high-level opening-up, bringing more surprises to the world economy, said Chinese Foreign Ministry spokesperson Mao Ning. This statement came after the International Monetary Fund's (IMF) Chief Economist, Pierre-Olivier Gourinchas, commented on China's 5 percent economic growth in 2024, which exceeded the IMF's forecast. Gourinchas described the achievement as a "surprise" for the global economy. The IMF has also revised its forecasts upward for China's economic growth prospects in both 2025 and 2026.

Mao highlighted that China's achievement of its 2024 growth target, demonstrates the resilience and potential of the Chinese economy. This progress also boosts confidence in the potential for global economic growth. Mao emphasized that China would maintain the upward trend of its economy and continue to deliver more positive surprises to the world economy through high-quality development and high-level opening-up.

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