China Reiterates Commitment to Global Economic Recovery at Boao Forum for Asia

Zhao Leji, China’s top lawmaker, has outlined the country’s goals for the coming year at the Boao Forum for Asia. He emphasized China’s commitment to being a driving force for global economic recovery by focusing on technological innovation as a key driver of economic growth and expressing willingness to cooperate with other countries on this front.

Recent economic indicators have shown positive signs for China’s economy at the start of the year, providing some relief to policymakers amid challenges such as weakness in the real estate sector and rising local government debt. In response, Zhao announced plans to make China’s markets more open to foreign investors, including further reductions in the “negative list” of sectors where foreign investment is restricted.

Despite a drop in foreign direct investment in the first two months of this year, Zhao reiterated China’s commitment to being a welcoming destination for foreign investors. 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 recovery and long-term improvement.

Zhao also emphasized China’s opposition to trade protectionism and separation, stating that “an investment in China is an investment in the future.” This message is intended to reassure international companies and investors of China’s commitment to economic cooperation and growth.