China set to expand opening-up while boosting consumption: commerce minister

China will continue to push forward high-standard opening-up while bolstering domestic consumption to support high-quality development, according to the country's top commerce official.

In an interview with People's Daily on Saturday, Commerce Minister Wang Wentao said that expanding high-standard opening-up remains a vital driver for advancing reform and propelling development.

As China faces both strategic opportunities and growing risks and uncertainties during the 15th Five-Year Plan (2026-30) period, it is essential to strengthen the interplay between domestic and international markets and resources, achieving steady and sustainable growth in both quality and scale, said Wang.

The commerce minister said China will build a more transparent, stable and predictable institutional environment to attract foreign investment.

He stressed that efforts will also cover the full implementation of the strategy to upgrade pilot free trade zones, the expansion of the country's network of high-standard free trade agreements and the high-standard development of the Hainan Free Trade Port.

China will proactively advance opening-up, align with high-standard international economic and trade rules, broaden market access and open more sectors — particularly in services, Wang added.

China has continued to open its market to the world, becoming the top export destination for nearly 80 countries and regions during the 14th Five-Year Plan (2021-25) period, according to information released by the Ministry of Commerce.

Noting that China possesses the advantage of an ultra-large market, with a population of over 1.4 billion, Wang said that people's diversified needs for a better life continue to rise, reflecting vast consumption potential.

He said China will work to create a more internationalized consumption environment and widen the supply of high-quality goods and services to strengthen the domestic market and support high-quality development.

These moves align with the recommendations of the 20th Central Committee of the Communist Party of China for the formulation of the 15th Five-Year Plan (2026-30), which identify a strong domestic market as strategic support for Chinese modernization.

In addition to building an internationalized consumption environment and expanding the supply of high-quality consumer goods and services, China will focus on easing market access and integrating diverse business formats to boost service consumption and steer resources toward new growth drivers such as cruise tourism and sports events, said Wang.

Regarding goods consumption, Wang said China will continue to organize impactful promotion activities so that residents can gain more tangible benefits. The country will further stimulate demand for major durable goods, expand automobile consumption along the full industrial chain and encourage the upgrading of home appliances.