BEIJING: Faced with growing external uncertainties, China’s focus on advancing its high-quality development agenda will not only bolster domestic resilience but also contribute to global economic stability and prosperity, senior officials and businesses executives said at the China Development Forum 2025 in Beijing. In particular, the stronger emphasis of the world’s second-largest economy on consumption and innovation this year, along with its unchanged commitments to wider openness, has provided great opportunities for global businesses to grow in the Chinese market and beyond, they said at the two-day event, which concluded on Monday.
Han Wenxiu, executive deputy director of the Office of the Central Commission for Financial and Economic Affairs, said, “China’s economy continues its upward trajectory this year, and there is still ample room for policymakers to leverage countercyclical adjustments.”
Backed by a steadfast commitment to high-quality growth, China is going to provide a crucial source of stability and certainty for the world economy, he added.
To this end, Han said that China is striving to “position consumption as the primary driving force and stabilizing pillar of its economic growth”. “While China already boasts a sizable consumer market, the proportion of consumption in the national economy and total demand is still relatively low, lagging behind developed countries by around 20 percentage points. This indicates immense potential for further consumption expansion,” Han said. –The Daily Mail-China Daily news exchange item
