China will continue expanding higher-standard opening-up and stabilizing foreign trade and investment in 2025, according to a government work report submitted Wednesday to the country’s national legislature for deliberation.
Chinese Premier Li Qiang delivered the report on behalf of the State Council at the opening meeting of the third session of the 14th National People’s Congress (NPC) at the Great Hall of the People in Beijing on Wednesday morning.
Efforts will be made to promote steady development of foreign trade, the premier said, adding that China will bolster policies for stabilizing foreign trade, and expand the scale and coverage of export credit insurance.
China will promote cross-border e-commerce by boosting development of overseas warehouses, he said.
The premier noted China will support the integrated development of domestic and foreign trade, and cultivate new growth drivers, such as green trade and digital trade.
“We will vigorously encourage foreign investment. We will promote comprehensive trials and demonstrations for expanding opening up of the service sector. Trials will be expanded to open up sectors such as telecommunications, medical services, and education. Foreign investors will receive better services and support. We will enhance the quality and performance of pilot free trade zones and grant them more powers to pursue reforms. We will keep working to foster a first-rate business environment that is market-oriented, law-based, and internationalized, thus enabling foreign-funded enterprises to achieve even greater business success in China,” Li said.
“We will strive for solid progress in pursuing high-quality Belt and Road cooperation. We will advance both major signature projects and ‘small but beautiful’ public wellbeing projects and produce a number of exemplary cooperative project deliverables. We will strengthen comprehensive overseas services, including legal, financial, and logistics support, and improve the layout of international cooperation in industrial and supply chains,” he said.
The premier said China will deepen multilateral, bilateral, and regional economic cooperation and continue to expand its globally-oriented network of high-standard free trade areas.
China will resolutely safeguard the WTO-centered multilateral trading system, broaden converging interests with other countries, and promote shared development, Li said.