China Vows to Press On with Economic Opening-Up Policy Despite Looming Dumps of US Trade Tensions

BEIJING, Dec 20, 2023 - China has reaffirmed its commitment to expanding its economy to the global market in 2025 despite uncertainty surrounding possible trade tensions with the incoming Trump administration of US President-elect Donald Trump.

The country's economic recovery since the Covid-19 pandemic is expected to face additional pressure following Trump's presidential inauguration on January 20, given his history of imposing tariffs on Chinese imports and promising similar policies ahead.

No matter how the external environment changes due to uncertainty, China’s determination and actions to open up to the outside world will remain unchanged. - Zhao Chenxin

According to National Development and Reform Commission (NDRC) deputy director Zhao Chenxin, no matter how the external environment changes, China's determination and actions to open up to the outside world will remain unchanged.

In this year 2024, China plans to implement many new measures to steadily expand systemic openness and expand a business environment that is marketised, under rule of law, and internationalised.

Authorities aim to steer the economy towards high-tech innovation, particularly in sectors like green energy. It is evident as wind and solar power currently accounts for 40.5 percent of China's total power generation capacity this year.