After nearly three years of stringent COVID-19 restrictions, China is stepping confidently into the global arena, revitalizing its interactions with the world in 2023. “Opening-up” has become the defining theme of the past year.
“While pursuing its development, China has also embraced the world and fulfilled its responsibility as a major power,” remarked Chinese President Xi Jinping in his 2024 New Year message. Hosting a series of high-profile diplomatic events—including the Third Belt and Road Forum for International Cooperation, the China-Central Asia Summit, and the China International Import Expo—China has demonstrated its commitment to openness and sharing its vision with the international community. The Belt and Road Forum in October alone witnessed Sino-foreign business agreements totaling $97.2 billion.
Already a key trading partner for over 140 countries, China has introduced a suite of measures to further enhance its business environment. In August, the State Council unveiled guidelines featuring 24 specific initiatives aimed at bolstering foreign investment. These include encouraging foreign enterprises to undertake science and technology projects, facilitating the travel of senior executives, technicians, and their families, and expanding pilot areas for wider opening-up.
A survey released by the China Council for the Promotion of International Trade in November indicated strong confidence among foreign businesses. Over 80% of 700 foreign companies expressed satisfaction with China’s business environment in the third quarter of 2023, and nearly 90% anticipate stable or increased profits in the country over the next five years.
China’s unwavering commitment to high-level opening-up has significantly contributed to the resilience of its economy. As the global economy grapples with post-pandemic recovery, China’s GDP grew at a robust average of 5.2% year-on-year in the first quarter of 2023. “Having weathered the storm, the Chinese economy is more resilient and dynamic than before,” President Xi affirmed in his New Year message.
With a forward-looking approach and substantial economic momentum, China’s confidence in its future seems well-founded. By embracing openness, fostering international cooperation, and enhancing its business environment, China is poised to play an even more influential role on the global stage.
Reference(s):
cgtn.com
