Amid rising global protectionism and economic uncertainty, China is taking bold steps to open its doors wider to the world. As the world’s second-largest economy, China’s initiatives are drawing global attention for their potential to drive economic growth and create new opportunities.
Anticipation Builds Ahead of Key Political Meetings
In early March, China will hold its annual Two Sessions, the meetings of the nation’s top legislature and political advisory body. These events are expected to unveil significant economic policies that will set the tone for China’s economic direction and its engagement with international markets.
Expanding Openness in Multiple Sectors
In 2024, China made significant strides in expanding institutional openness. Restrictions on foreign investment in the manufacturing sector were completely lifted, and a nationwide negative list management system for cross-border services trade was established for the first time.
China has also promoted the orderly expansion of openness in sectors such as telecommunications, the internet, education, culture, and healthcare. Furthermore, the nation is proactively aligning with high-standard international economic and trade rules, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA).
Positive Response from Global Enterprises
These initiatives have been met with enthusiasm from multinational enterprises, many of which are increasing their investments and expanding operations in China. According to a survey by the American Chamber of Commerce in China, 48% of U.S. companies ranked China as a top-three global investment priority. Additionally, 53% of respondents plan to increase their investments in China by 2025, with nearly 70% of consumer sector companies expressing confidence in the Chinese market.
China’s Commitment to Openness
At the World Economic Forum Annual Meeting 2025 in Davos, Chinese Vice Premier Ding Xuexiang reaffirmed China’s dedication to opening up. “China’s door of opening up will not be closed and will only open even wider, and the business environment in China will only get better,” he stated, welcoming foreign enterprises to invest and do business in China.
A Key Driver of Global Growth
China’s role as a major contributor to global economic growth is becoming increasingly prominent. Over the past five years, China’s average contribution to global growth has remained around 30%, making it the largest driving force behind world economic expansion.
In 2024, China’s GDP surpassed 130 trillion yuan (about $18.08 trillion) for the first time, marking a 5.0% increase from the previous year. The country holds the world’s top positions in goods trade, foreign exchange reserves, and manufacturing, and ranks second in service trade and domestic consumption market size.
Creating Opportunities Through Global Initiatives
China’s high-quality development initiatives, such as the Belt and Road Initiative (BRI), are creating significant opportunities for global trade and investment growth. Since its inception in 2013, the BRI has expanded to include cooperation agreements with over 150 countries and more than 30 international organizations.
A World Bank report estimates that by 2030, BRI-related investments could lift 7.6 million people out of extreme poverty and 32 million out of moderate poverty, highlighting the global impact of China’s openness and development strategies.
