China Pledges Continued Economic Openness in 2025 despite Global Uncertainty

China is determined to maintain its path of economic opening in 2025, according to Zhao Chenxin, deputy director of the National Development and Reform Commission (NDRC). Despite facing ongoing challenges such as low consumption, a debt crisis in the housing sector, and high youth unemployment, the country aims to bolster its global economic integration.

Zhao emphasized that regardless of external uncertainties, including potential trade friction with the incoming US administration, China’s commitment to fostering a market-oriented, rule-of-law-driven, and internationalized business environment remains steadfast. Plans include expanding foreign investment in sectors like advanced manufacturing, high-tech, and energy-saving, and environmental protection.

China’s push towards green energy is evident, with wind and solar power accounting for 40.5% of its total generation capacity as of 2024, up from 36% the previous year. However, demographic challenges loom large, as the country faces an aging population, with the number of elder care facilities and childcare providers steadily increasing.