China’s Opening-Up Efforts Achieve Significant Progress in 2024
In 2024, China implemented significant opening-up strategies, resulting in a 9.9% growth in foreign investment and a 5% increase in total trade volume. The country also relaxed visa policies, allowing 20.12 million foreign nationals to enter visa-free, a 112.3% rise compared to the previous year. Plans for 2025 include continuing to align with high-standard international trade practices.
In 2024, China made significant strides in its high-level opening-up initiatives, achieving substantial results. The introduction of the national negative list for foreign investment facilitated the easing of restrictions particularly in the manufacturing sector. Additionally, there was a marked expansion of opportunities in the healthcare sector and value-added telecom services, contributing to the establishment of 59,080 new foreign-invested firms, representing a year-on-year growth of 9.9 percent.
The nation also experienced steady growth in foreign trade, driven by an increase in institutional opening-up of services. Total import and export volume reached 43.85 trillion yuan in 2024, reflecting a 5 percent increase from the previous year. Such growth underscores China’s commitment to expanding international trade and services.
China further enhanced its visa regulations by relaxing its visa-free transit policy and expanding unilateral visa-free entry, thus improving accommodation and payment services for foreign visitors. As a result, 20.12 million foreign nationals entered the country visa-free in 2024, marking an impressive increase of 112.3 percent year-on-year.
Looking forward to 2025, China aims to continue developing high-level opening-up platforms that conform to international economic and trade standards. The focus will remain on sharing developmental opportunities globally to foster an inclusive economic environment.
In summary, China’s opening-up initiatives in 2024 led to notable advancements in foreign investment and trade. The expansion of sectors such as manufacturing, healthcare, and telecom services, accompanied by improved visa policies, significantly boosted the entry of foreign nationals and supported trade growth. As China continues to enhance its economic openness in 2025, it remains committed to integrating further with global markets and sharing its growth benefits with the world.
Original Source: www.prnewswire.com
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