China is ramping up efforts to attract more foreign investment in state-level economic and technological development zones, according to a recent Ministry of Commerce release. With global trade facing significant challenges, these zones are becoming key anchors for stability and growth. 😊
By the end of 2024, the number of such zones reached 232, generating a combined GDP of 16.9 trillion yuan. In these zones, foreign trade hit 10.7 trillion yuan—making up 24.5% of overall trade—while foreign direct investment reached $27.2 billion (23.4% of total FDI).
Vice Minister Ling Ji emphasized that these zones are integral to building a new open economic system, promoting coordinated regional development, and driving high-quality industrial growth. A newly released work plan aims to deepen reforms and innovation in these zones, particularly targeting sectors like integrated circuits, biomedicine, and advanced equipment manufacturing.
The plan also encourages deeper engagement with leading global investors and financial institutions, even supporting delegations to head overseas in the quest to attract more quality foreign capital. For tech enthusiasts and young professionals, these initiatives highlight exciting opportunities in an evolving economic landscape. 🚀
Stay tuned for more updates as these dynamic zones continue to shape the future of economic and technological growth!
Reference(s):
cgtn.com
