China’s Premier Li Keqiang Announces New Regulations on Market Access and Data Flows
In a bold move to boost foreign investment and innovation, Premier Li Keqiang of China unveiled plans to carefully study market access issues and cross-border data flows at the China Development Forum in Beijing. Li expressed a warm welcome to companies worldwide, encouraging them to invest and expand their presence in China.
Highlighting the country’s focus on emerging industries like biological manufacturing, Li emphasized the importance of advancing artificial intelligence and the data economy. In response to a recent decline in foreign investment, Beijing recently relaxed some rules to attract more capital.
Reassuring attendees about China’s economic stability, Li mentioned the country’s low inflation rate and manageable debt levels, signaling room for further macro policy actions. He also pointed to successful measures taken to address property and debt risks, including the issuance of 1 trillion yuan in special treasury bonds.
Despite facing challenges such as a property crisis and industrial overcapacity, China remains a key player in the global economy. The annual China Development Forum serves as a platform for global CEOs and Chinese policymakers to discuss foreign investment, with prominent figures like Tim Cook and Ray Dalio in attendance.
As overseas firms express concerns about the business environment in China, a new action plan aims to level the playing field for foreign companies and expand access in sectors like manufacturing, telecommunications, and healthcare. With a renewed focus on attracting foreign investment, China is poised to strengthen its position in the global market.