China’s Path to Global Economic Recovery: A Boost in Foreign Investment and Strong Markets

Official predicts that China will play a crucial role in global economic recovery, says Reuters

In his speech at the Boao Forum for Asia, China’s top legislator Zhao Leji expressed the country’s goal of being a strong driving force for global economic recovery in the coming year. He emphasized that China plans to open its markets wider to foreign investors and focus on promoting high-quality growth.

China’s recent economic indicators have shown positive signs for its economy, offering relief to policymakers amidst challenges in the property sector and local government debt. To encourage foreign investment, Zhao has promised greater openness in China’s markets, with plans to reduce the “negative list” of sectors restricted for foreign investment. However, inbound foreign direct investment has decreased in the first two months of the year, prompting some businesses to diversify their operations away from China.

Despite uncertainties in the global economic landscape, Zhao reiterated China’s opposition to trade protectionism and decoupling. He emphasized that investing in China is investing in the future of the economy. Earlier in March, Beijing announced policies to support economic growth and set a growth target of around 5% for 2024, showing confidence in China’s ability to rebound and improve long term.

Leave a Reply