Expert panel: International experts commend China's embrace of economic openness
During this year's "two sessions," international observers are particularly interested in China's initiatives to enhance its private sector and elevate the openness of its financial markets.
TroibNews 
This year's national "two sessions" has attracted considerable international attention as a pivotal political event that will influence the country's policy direction. Observers are particularly focused on China's initiatives to enhance its private sector, promote high-level opening of its financial markets, cultivate new productivity drivers, and accelerate its transition to green technology.
In the government work report presented on March 5, a variety of initiatives aimed at increasing openness, stabilizing foreign trade and investment, and boosting growth in cross-border e-commerce and innovative service trade were outlined. The report emphasized the need to develop green and digital trade, attract foreign investment, and expand pilot reforms in sectors such as telecommunications, healthcare, and education. The document's economic targets, especially the ambitious 5 percent annual GDP growth goal, have been widely reported by international media.
Joseph Ngai, chairman of McKinsey China, pointed out in an interview with CN that global trade dynamics have transformed in recent years, with South–South trade rapidly gaining momentum to replace conventional East–West routes.
Following the UK–China Economic and Financial Dialogue in January, which was co-chaired by Vice-Premier He Lifeng and UK Chancellor of the Exchequer Rachel Reeves, The Times highlighted the challenges in UK–China relations while also emphasizing that deeper financial connections with China could lead to increased growth and job creation in Britain.
According to Shukhrat Ibragimov, CEO of Eurasian Resources Group, China is instrumental in driving the clean-energy transition and is the largest consumer of minerals worldwide, presenting significant opportunities for the natural resources sector.
Richard Xu, head of China Financial Research at Morgan Stanley, attributed China's planned shift in 2024 towards a technology- and innovation-driven economic model to robust government backing. He anticipates that more market-oriented policies will help sustain economic growth.
Ning Zhang, a senior economist at UBS Investment Bank, underscored the importance of supporting private enterprises as a primary goal and predicted forthcoming policy and legislative actions to strengthen the private sector.
During a recent Politburo meeting of the Communist Party of China Central Committee, Chinese leaders advocated for proactive macroeconomic policies to stimulate domestic demand. Lu Ming, executive dean of the Shanghai Institute for National Economy at Shanghai Jiao Tong University, stated that China maintains a significant advantage in global manufacturing and possesses immense potential in the service sector.
Rohan Mehta for TROIB News
In the government work report presented on March 5, a variety of initiatives aimed at increasing openness, stabilizing foreign trade and investment, and boosting growth in cross-border e-commerce and innovative service trade were outlined. The report emphasized the need to develop green and digital trade, attract foreign investment, and expand pilot reforms in sectors such as telecommunications, healthcare, and education. The document's economic targets, especially the ambitious 5 percent annual GDP growth goal, have been widely reported by international media.
Joseph Ngai, chairman of McKinsey China, pointed out in an interview with CN that global trade dynamics have transformed in recent years, with South–South trade rapidly gaining momentum to replace conventional East–West routes.
Following the UK–China Economic and Financial Dialogue in January, which was co-chaired by Vice-Premier He Lifeng and UK Chancellor of the Exchequer Rachel Reeves, The Times highlighted the challenges in UK–China relations while also emphasizing that deeper financial connections with China could lead to increased growth and job creation in Britain.
According to Shukhrat Ibragimov, CEO of Eurasian Resources Group, China is instrumental in driving the clean-energy transition and is the largest consumer of minerals worldwide, presenting significant opportunities for the natural resources sector.
Richard Xu, head of China Financial Research at Morgan Stanley, attributed China's planned shift in 2024 towards a technology- and innovation-driven economic model to robust government backing. He anticipates that more market-oriented policies will help sustain economic growth.
Ning Zhang, a senior economist at UBS Investment Bank, underscored the importance of supporting private enterprises as a primary goal and predicted forthcoming policy and legislative actions to strengthen the private sector.
During a recent Politburo meeting of the Communist Party of China Central Committee, Chinese leaders advocated for proactive macroeconomic policies to stimulate domestic demand. Lu Ming, executive dean of the Shanghai Institute for National Economy at Shanghai Jiao Tong University, stated that China maintains a significant advantage in global manufacturing and possesses immense potential in the service sector.
Rohan Mehta for TROIB News
