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BEIJING, Mar 19 (APP):”It is known to all that the resilience and potential of the Chinese economy are obvious. In 2024, despite a series of uncertainties, China’s contribution to global economic growth still remains at around 30%, making it a vital engine,” Jiang Yi, Director of the Policy Research Office of the National Development and Reform Commission, said during a briefing on the 2025 Two Sessions.
The event was held by the China Public Relations Association to provide Chinese and foreign-funded companies with an in-depth interpretation of related policies adopted by this year’s Two Sessions.
“The expected GDP growth target of around 5% this year was proposed after comprehensive research and scientific demonstration, Jiang stressed. In 2025, China will implement more proactive and effective macroeconomic policies not seen in many years, as well as carry out extraordinary counter-cyclical adjustments.”
Wang Ya, Deputy Director of the Foreign Investment Department of the Ministry of Commerce focused on China’s expansion of high-level opening-up, which is of most concern to domestic and foreign companies.
Wang pointed out that the negative list for foreign investment access in the Shanghai free trade zone (FTZ) has been revised eight times since its first version was released in 2013, and the special management measures have been reduced from 190 to 29 nationwide since 2024.
Foreign investment access to areas outside the negative list will be managed strictly in accordance with the principle of consistency between domestic and foreign investment, ensuring that foreign-invested enterprises enjoy the same treatment as domestic enterprises in terms of market access.
“The Chinese government is actively expanding the opening-up. In 2024, pilot projects were launched in some regions in the fields of value-added telecommunications, biotechnology, and wholly foreign-owned hospitals to create more investment opportunities for foreign investors.”
The CEN reporter learned that a series of specific measures to attract foreign investment and expand opening up will continue to be effectively implemented. For instance, the Ministry of Commerce will formulate an annual plan about investment in China brands this year, vigorously promoting overseas investment. Secondly, Catalogue of Industries for Encouraging Foreign Investment will be revised to focus on guiding foreign investment to modern service industries and divert more foreign investment to the central, western and northeastern regions.
“The new catalogue will be released within the year. After soliciting opinions from all parties, the new version has reached 1,700 entries, which is more than 200 more than the previous 2022 version, meaning a large proportion improvement,” Jiang introduced.
In addition, the Ministry of Commerce has selected some provinces and cities to carry out comprehensive pilot projects for expanding the opening up of the national service industry. By 2024, 11 provinces and cities had been involved, with the total foreign investment in the service industry reaching USD 41.3 billion, accounting for about 50.2% of China’s foreign investment in the service industry. By now, more than 1,300 such pilot projects have been launched, covering 13 key areas. It has also in accordance with the rules and provisions of CPTPP and DEPA, and has promoted more than 190 innovative achievements nationwide.
Foreign-invested enterprises attending the meeting noted that the basic long-term positive trend of China’s economy, the super-large domestic market and the complete and efficient industrial system have formed comprehensive advantages in attracting investment, thus new investment opportunities are constantly emerging.