Official: China to play a key role in global economic recovery, says Reuters

Beijing recently announced policies to support economic growth and set a target of around 5% growth for 2024, reflecting confidence in the country’s economic rebound and long-term improvement. Despite a decline in inbound foreign direct investment in the first two months of the year, Zhao reiterated China’s commitment to being a welcoming destination for foreign investors.

At the Boao Forum for Asia, China’s top legislator Zhao Leji outlined the country’s goals for the year ahead, emphasizing China’s commitment to being a driving force for global economic recovery. Zhao highlighted China’s plan to focus on tech innovation as a key driver of economic growth and expressed a willingness to collaborate with other countries on this front. He also projected that China’s import and export of goods would exceed $32 trillion in the next five years.

Recent economic indicators have shown positive signs for China’s economy at the beginning of the year, providing some relief to policymakers amid challenges such as weaknesses in the property sector and mounting local government debt. Zhao announced plans for greater openness in China’s markets for foreign investors, including further reductions to the “negative list” of sectors where foreign investment is restricted.

Zhao also emphasized China’s opposition to trade protectionism and decoupling, stating that “investing in China is investing in the future.” This message seeks to reassure international businesses and investors of China’s commitment to economic cooperation and growth.

By Sophia Gonzalez

As a content writer at newsgreg.com, I am dedicated to crafting engaging stories that captivate our readers. With a knack for turning complex topics into accessible and compelling narratives, I weave words together to inform and inspire. My passion lies in delivering accurate and thought-provoking content that keeps our audience informed and entertained. From breaking news stories to in-depth features, I strive to bring a fresh perspective to every piece I create. Join me on this journey of exploration and discovery through the power of words at newsgreg.com.

Leave a Reply