Foreign biz circle bullish on China's opening-up

China's recommendations for the 15th Five-Year Plan (2026-30) show the country's will to accelerate expanding high-standard opening-up to create new opportunities, said senior officials and business representatives from various countries.

The Fourth Plenary Session of the 20th Communist Party of China Central Committee approved the Recommendations of the Central Committee of the CPC for Formulating the 15th Five-Year Plan for National Economic and Social Development in October, setting out a top-level design and strategic blueprint for China's development over the next five years.

Over the past month, many foreign chambers of commerce in China, representatives of multinational companies and economic and commercial officials at foreign embassies in Beijing said they had studied the recommendations closely.

Terms such as "high-standard opening-up", "trade innovation", "modern industrial system" and "green transition" were seen as signaling new opportunities and fresh momentum for cooperation with Chinese partners across sectors and companies, they said.

The recommendations devoted a full section to expanding high-standard opening-up, sending a strong signal of China's commitment to open cooperation and mutually beneficial outcomes, according to these groups.

Meira Hot, vice-president of Slovenia's Social Democrats and deputy speaker of the National Assembly, said China's technological innovation in biopharmaceuticals, new energy vehicles and artificial intelligence had impressed her. Innovation was mentioned multiple times in the recommendations, which she said would further accelerate China's scientific and technological progress.

Pierre Mirochnikoff, vice-chairman of the Benelux Chamber of Commerce in China, who has lived in China for 15 years, said he appreciated China's adherence to open cooperation and mutual benefit. Mirochnikoff noted the recommendations called for promoting innovative trade development and expanding trade in intermediate goods and green trade.

"This would create opportunities for further China-Europe cooperation," he said, adding that both sides could deepen green collaboration and cultivate new growth drivers in emerging industries.

The Ministry of Commerce said the nationwide negative list for foreign investment had been reduced to 29 items, with all restrictions in manufacturing eliminated.

Meanwhile, market access and opening would next focus on services, the ministry said, underscoring that China's consumer market had seen rising demand for high-quality imported goods and services, which would offer more opportunities for multinationals to invest in China.

The recommendations also said China would support the development of new business forms and models such as cross-border e-commerce, which Sergey Sharonov, vice-chairman of the Russia-China Friendship Association, said could help boost bilateral trade in terms of online shopping.

Sharonov said many Russian companies were selling Russian foodstuffs through Chinese e-commerce platforms, and China's high-level opening-up and continued improvements to the business environment would bring new opportunities for Russian firms.

Kim Jun-bum, president of Beijing Korean Peninsula Technology, said he could see China's firm resolve to promote high-quality development and expand high-standard opening-up.

China's proactive opening would mean broad opportunities for neighboring countries, while cultural tourism, catering and sports were promising tracks for foreign investors in China, Kim said.

Jorge Cevallos, Ecuador's commercial counselor in China, said bilateral trade had maintained steady growth over the past three years. A bilateral free trade agreement that took effect in May 2024 has helped more South American specialties enter the Chinese market, he said.

Ecuador also looked to deepen cooperation with China in mining, agricultural modernization and clean energy, Cevallos said, adding that the country hoped to find its own path to modernization, as China had done.

renqi@chinadaily.com.cn