China will be a driving force for the world economic recovery, official says

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China is poised to play a pivotal role in driving global economic recovery this year, according to Zhao Leji, the chairman of the Standing Committee of the National People’s Congress. Speaking at the Boao Forum for Asia, Zhao emphasized China’s commitment to promoting high-quality growth and opening its markets wider to foreign investors.

Highlighting tech innovation as a new driver of economic growth, Zhao expressed China’s readiness to collaborate with other nations in this endeavor. He projected China’s import and export of goods to surpass $32 trillion in the next five years, indicating robust trade prospects.

Despite challenges in the property sector and local government debt, recent economic indicators suggest a promising start to the year for the world’s second-largest economy. Zhao assured greater market openness for foreign investors, including further reductions in the “negative list” of sectors restricted for foreign investment.

Source: Reuters

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