China has outlined an ambitious strategy to deepen its integration with the global economy over the next five years, with Commerce Minister Wang Wentao announcing sweeping reforms to expand market access, modernize trade practices, and strengthen international partnerships.
Aligning With Global Standards
Speaking at a press conference in Beijing, Wang emphasized China's commitment to aligning with international high-standard economic and trade rules. The plan prioritizes service sector liberalization and accelerated negotiations on regional trade agreements, aiming to build a 'network of high-standard free trade zones' across Asia and beyond.
Innovation-Driven Trade Growth
The strategy includes measures to diversify goods trade markets and establish new management systems for cross-border service trade. Digital trade will see phased opening-up measures, while production and supply chain networks will be optimized through improved foreign investment management systems.
Belt and Road 2.0
Wang highlighted upgraded priorities for Belt and Road cooperation, including alignment with partner countries' development plans and expansion into green technologies and artificial intelligence. The program will balance large infrastructure projects with smaller community-focused initiatives to enhance local livelihoods.
Investor-Friendly Reforms
The minister pledged to streamline overseas investment services and create more predictable business environments. These changes aim to position China as a hub for global supply chain innovation while maintaining stable cross-border production networks.
