China plans to open up its economy to the world in 2025

A Chinese economic planning official confirmed on Friday that the country intends to continue opening up its economy to the world in 2025.

“We will definitely take many new measures in the new year… to steadily expand systematic opening-up and build a market business environment based on the rule of law and internationalization,” Zhao Zhenchen, deputy director of the commission, told a news conference on Friday.

He said China plans to encourage increased foreign investment in advanced manufacturing, modern services, advanced technology, energy saving and environmental protection.

The world’s second-largest economy has struggled to revive growth after the Covid pandemic and is still grappling with a housing debt crisis, falling consumption and high youth unemployment.

The situation could deteriorate further after Trump’s inauguration, as the US president-elect raised tariffs on Chinese imports amid a wide-ranging trade war in his first term and has vowed to continue that approach.