China is committed to further expanding its high-standard opening-up and relaxing market access for foreign investment, said Li Yongjie, Deputy China International Trade Representative and a senior official of the Ministry of Commerce, at a press conference in Beijing on Friday.
"China has continuously advanced high-standard opening-up. We support foreign enterprises to invest and deepen their presence in China. We will further expand opening-up and relax market access for foreign capital. The Ministry of Commerce, together with relevant departments, will implement the 2025 Action Plan for Stabilizing Foreign Investment, accelerating pilot openings in sectors of cloud computing, biotechnology, and wholly foreign-owned hospitals, while gradually expanding voluntary opening in other service industries," she said.
"We will make full use of existing platforms, say Pilot Free Trade Zones, National Economic and Technological Development Zones, and Comprehensive Demonstration Zones for Expanding the Opening-up of the Service Sector, to steadily advance institutional opening-up. We will also revise and expand the Catalog of Encouraged Industries for Foreign Investment, and explore policies to encourage foreign enterprises within the country to reinvest in China, so as to offer more opportunities for foreign companies to invest in China's emerging sectors and future industries," said Li.
China to further expand high-standard opening-up: official
China's smart consumer device manufacturing sector has seen rapid growth this year, fueled by a government-backed trade-in program and the expansion of diversified consumption scenarios.
From January to May, the country's electronic information manufacturing industry maintained strong momentum, with total revenue of enterprises above the designated size reaching 6.49 trillion yuan (some 900 billion U.S. dollars), up 9.4 percent year on year.
Production of electronic consumer goods recorded steady increases. Over 140 million computers were produced during the period, up 8 percent from a year earlier, while 14.04 million television units rolled off assembly lines, up 1.7 percent year on year.
"Consumption scenarios are becoming more diversified. On the demand side, new smart products are quickly entering the market, opening up emerging markets in home services, health management, and beyond. On the supply side, the industry is clearly moving toward transformation and upgrading, with new growth drivers accelerating," said Zuo Kairui, director of the Industry Development Department of the Institute of Policy and Economics at the China Academy of Information and Communications Technology.
Looking ahead to the second half of the year, China plans to go on promoting its "AI plus consumer goods" initiative, encouraging the development and application of new technologies such as smart wearables, ultra-high-definition video, brain-computer interfaces, and robotics.
Meanwhile, authorities will continue to foster high-growth consumer sectors and guide the smart device industry toward greener, more service-oriented development.
China's smart consumer device industry sees rapid growth amid policy boost
