Beijing vows to expand imports amid ‘China shock’ fears
Beijing promises to source advanced tech, consumer goods and agricultural products from overseas while diversifying markets
Beijing also planned to diversify markets and nurture new trade drivers such as artificial intelligence, seeking to stabilise trade as global supply chains come under mounting pressure from geopolitical conflicts, officials said.
“While some countries treat the market as a weapon or a bargaining chip and pursue protectionism, as a responsible major country China is proactively opening its vast market, viewing it as an opportunity and a basis for cooperation,” Wang said at a Friday press conference on the sidelines of the “two sessions”, one of the country’s most important political gatherings.
Beijing would release a report evaluating the capacity of selected countries to export to China, helping them strengthen their ability to sell in the Chinese market and better match supply with demand, he added.
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In the first two months of this year, China’s foreign trade continued last year’s positive momentum, with figures – set to be officially released on March 10 – “better than expectations”, he said.
To nurture new trade drivers, China would focus on emerging sectors and business models, promoting exports of AI products, green power equipment and other hi-tech goods, while accelerating the digital and green trades, he added.