China's push to further expand opening-up will strengthen investor confidence and support economic growth by creating a more predictable business environment and broader market opportunities for foreign enterprises, said market watchers and business executives on Thursday.

They said the move underscores China's determination to keep its market open and integrated with global supply chains at a time of rising geopolitical tensions and trade fragmentation, reinforcing the country's role as a key and reliable destination for global capital and advanced manufacturing.

According to a government work report submitted on Thursday to the fourth session of the 14th National People's Congress for deliberation, China will expand two-way investment cooperation by deepening reform of the institutional framework for promoting foreign investment and ensuring national treatment for foreign-funded enterprises.

The report said a new edition of the Catalog of Encouraged Industries for Foreign Investment will be implemented, while foreign-funded businesses will be encouraged to reinvest in China and expand local production.

For foreign corporations, China's opening-up measures and GDP growth target send a strong signal of stability at a time of rising global uncertainties. They provide an important anchor for long-term business planning by reinforcing expectations of policy continuity and sustained market demand, said Denis Depoux, global managing director of Roland Berger, a Munich-based management consultancy.

"As the world fractures into competing blocs, multinational firms need to be on both sides, and China can be a bridge to integrate with Asia and the Global South," said Depoux, pointing out that competition with Chinese companies is intensifying, but staying engaged in the market remains essential to competing globally.

Similar views were also expressed by Zhang Shuibo, a deputy to the 14th National People's Congress and a professor of economics at Tianjin University.

"Advancing high-quality reform and opening-up will help China offset rising external risks, while the country's central role in global supply chains continues to shape multinational companies' investment decisions," Zhang said.

Highlighting that China is no longer just a vast consumer market but an increasingly vital hub of innovation for global businesses, Xia Fuliang, president for China unit at German specialty chemicals group Evonik Industries AG, said the nation's rapid advances in green technology, shipbuilding, artificial intelligence and high-value services are reshaping global competition and generating new momentum for technological progress worldwide.

Yin Zheng, executive vice-president of China unit and East Asia operations at French industrial conglomerate Schneider Electric, said as AI becomes a key enabler of energy transition and industrial upgrading, China has emerged as the world's major hub for AI development. This makes the country a critical part of the group's global strategy.

"We believe China has become a major center for global industry and a powerful engine of growth. Investing in China means investing in the future," Yin said.

zhongnan@chinadaily.com.cn