China ‘determined’ to open up to outside world in 2025


China 'determined' to open up to outside world in 2025

China is “determined” to continue opening up its economy to the global market in 2025, a top economic planning official has revealed, adding that Beijing is taking bold steps in light of looming uncertainty surrounding potential trade crisis with the incoming administration of US President-elect Donald Trump, who has indicated plans to impose higher tariffs on Chinese imports.
The world’s second-largest economy has faced hurdles in reviving growth after the Covid-19 pandemic continues to grapple with a housing sector debt crisis, weak consumer spending, and soaring youth unemployment.
The economic future of this Asian giant could face additional pressure after Trump’s inauguration on 20 January, given his history of imposing tariffs on Chinese imports during a previous term and promises of similar policies ahead.
Despite these challenges, National Development and Reform Commission (NDRC) deputy director Zhao Chenxin said, “No matter how the external environment changes, full of uncertainty, China’s determination and actions to open up to the outside world will remain unchanged,” during a press briefing, quoted by news agency AFP.
He further added that this year, the country would be implementing many new measures to steadily expand systemic openness and further build a business environment that is marketised, under rule of law, and internationalised.
Zhao outlined plans for greater foreign investment in “advanced manufacturing, modern services, high-tech, energy saving and environmental protection.”
Authorities aim to steer the economy towards high-tech innovation, particularly in sectors like green energy, moving away from the aggressive growth strategies of the past.
The country’s green energy efforts are already showing progress, with wind and solar power accounting for 40.5 per cent of China’s total power generation capacity in 2024, up from 36 per cent the previous year.
However, long-term economic challenges persist, particularly an ageing population.
Zhao informed that in 2024, China reached 100,000 childcare providers and 410,000 elder care facilities.





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