China aims to become a strong driver of the global economic recovery this year by opening its markets more widely to foreign investors and promoting high-quality growth, the country's top lawmaker Zhao Leji said on Thursday, writes UNN citing Reuters.
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China will make technological innovation a new point of economic growth and is willing to cooperate with other countries in doing so, Zhao, chairman of the Standing Committee of the National People's Congress, said at a plenary session opening the annual meeting of the Boao Asian Forum.
Zhao said China's imports and exports of goods are expected to exceed 32 trillion dollars in the next five years.
The latest economic indicators showed that the world's second-largest economy has had a brilliant start to the year, providing some relief to policymakers trying to support economic growth amid weakness in the real estate sector and rising local government debt, the publication said.
Zhao also promised greater openness of the country's markets to foreign investors, with further reductions in the "negative list" of sectors banned or restricted for investment by foreign companies without special authorization.
Many foreign companies, the publication notes, are looking to "secure" supply chains and operations outside China. Data released last week showed that inbound foreign direct investment fell nearly 20 percent in the first two months of the year.
Earlier in March, Beijing announced a series of measures to support economic growth and a growth target of around 5 percent for 2024, which Zhao said gives confidence that the economy continues to recover and improve in the long term.
China opposes trade patronage and separation, Zhao said. "Investment in China is an investment in the future," he pointed out.