China's high-quality development creates opportunities for international businesses

China's focus on developing new quality productive forces and promoting high-quality development will create great opportunities for businesses both at home and abroad, and inject strong impetus into global economic recovery and growth, according to the country's top economic planner.

China will take solid steps to accelerate the development of new quality productive forces, boost industrial innovation via technological innovation, speed up upgrading of traditional industries, and foster emerging industries, Zheng Shanjie, head of the National Development and Reform Commission, said at the China Development Forum 2024 that opened in Beijing on Sunday.

The country will strive to integrate digital technologies into the real economy sector and integrate advanced manufacturing with the modern service industry, while fostering new growth engines in fields including biomanufacturing, commercial spaceflight, new materials and low-altitude economy, Zheng said.

More efforts will also be made to foster future-oriented industries, open up new fields such as quantum technology and life sciences, and launch the "artificial intelligence (AI) plus" initiative, he said.

Zheng added that the country will continue working to optimize its business environment, pursue higher-standard opening up, strengthen international sci-tech cooperation, and accelerate the formulation of the 2024 negative list for foreign investment.

As the country's macroeconomic policies continue to take effect, the economy started this year robustly, with improved industrial production and domestic demand, and there are also the confidence, capabilities and conditions to meet the 2024 development goals, he said.

(Cover: An image of Shenzhen, south China's Guangdong Province, June 7, 2021. /CFP)