(Source: "Study Times" March 11, 2026, Page 05)

Tu Xinquan

This year’s government work report proposes to strengthen service guarantees for foreign-invested enterprises and polish the “Invest in China” business card. Previously, when introducing my country's achievements in expanding high-level opening up during the "14th Five-Year Plan" period, the head of the Ministry of Commerce said that the cumulative foreign investment absorbed during the "14th Five-Year Plan" period exceeded the expected target of US$700 billion; in 2024, high-tech industry investment accounted for 34.6%, an increase of 6 percentage points from 2020; many multinational companies said that "investing in China is not an option, but a must." In recent years, foreign investors have continued to be optimistic about the Chinese market. Against the backdrop of a stable and improving economy and expanding high-level opening-up, the Chinese market will become more attractive and attract high-quality foreign investment to develop in China for the long term.

First of all, China is becoming a "stabilizing anchor" under the current reshaping of the global economic landscape. In 2025, the solid performance of China's economy has handed over a heavy answer sheet to global investors. The latest "Statistical Bulletin on National Economic and Social Development in 2025" released by the National Bureau of Statistics shows that the annual GDP exceeded 140 trillion yuan, an increase of 5.0% over the previous year. This growth rate continues to lead among the world's major economies. What deserves more attention is the structural support for growth: final consumption expenditures drove GDP growth by 2.6 percentage points, and net exports of goods and services drove 1.6 percentage points. Consumption and exports work together, showing a resilient pattern driven by domestic demand and external demand. There were 12.67 million new urban jobs throughout the year, the average surveyed unemployment rate was 5.2%, and foreign exchange reserves were stable at around US$3.36 trillion. This set of data outlines an economy that is still moving forward steadily despite a complex external environment.

For global investors, the resilience of the Chinese economy means that when other markets are mired in policy chaos and geopolitical conflicts, the Chinese market provides valuable "hedging effect" and diversification value. In such a context of accelerating geopolitical fission, security and resilience are increasingly becoming key factors affecting investment decisions. In contrast, the East Asia region where China is located has generally maintained peace and stability, and China's role as a responsible major country has become increasingly prominent. As the core hub of the global industrial and supply chains, China's stability itself is the "ballast stone" for regional security and economic development.

Secondly, China’s innovation momentum has built a strong value magnetic field. If economic fundamentals and market volume are the basic attractions for attracting investment, then the surging innovation momentum constitutes the value-enhancing magnetic field of the Chinese market.

Since entering the 21st century, digitalization and greening have become the two most important trends in the development of industry and technology in the world. China has seized the new development opportunities and made rapid progress in both directions, surpassing some developed countries and firmly ranking at the forefront of the world. At present, China has not only mastered the most advanced technologies in the fields of digital technology, artificial intelligence, new energy, and electric vehicles, but also formed the largest industrial system. For companies and countries interested in getting involved in related fields, China has become an unavoidable supplier and technology partner. For example, in the automobile industry, Germany's three major automobile companies have cooperated closely with China's three major digital companies to promote the digital technology upgrade of their products. China's electric vehicles, driven by digital technology, have blossomed in the world market, helping China rapidly grow into the world's largest automobile exporter.

However, China’s technological progress does not simply rely on the window of opportunity provided by the emergence of new technologies, but has a very solid foundation. First, China continues to invest in improving basic technological capabilities. In 2025, China's total social research and experimental development (R&D) expenditures will reach 3.9262 billion yuan, an increase of 8.1% over the previous year, and the ratio to GDP will reach 2.80%. 972,000 invention patents were granted throughout the year, with 6.318 million valid invention patents as of the end of the year, an increase of 11.1% over the end of the previous year. The number of Patent Cooperation Treaty (PCT) patent applications accepted was 78,000, ranking among the top in the world for many years in a row. A solid scientific and technological foundation will provide a steady stream of power for China's continuous innovation. Secondly, China has the largest and most complete manufacturing system, which can quickly transform the latest technological research and development results into products; at the same time, China has the largest and most diversified unified market in the world, which can provide a good environment for the rapid iteration of new products. Finally, China adheres to the combination of an effective market and a promising government. The highly strategic and forward-looking industrial and technological development plan provides correct guidance for the government and enterprises to invest in new technologies and new industries. The government and enterprises work closely together with a reasonable division of labor to quickly build an open industrial chain and form a commercially feasible production capacity layout, making China the best cultivation and growth base for new technologies, new products, and new industries. A pragmatic and efficient innovation path is shaping global investors’ value perceptions of China’s technology industries and enterprises.

Finally, Western powers are frequently “looking east” and using practical actions to cast a vote of confidence in China’s investment value.

In a world economy of chaos and uncertainty, China is becoming a beacon of certainty. This is evident from the recent intensive visits to China by leaders of major Western countries. From the end of last year to the early spring of this year, Beijing ushered in an eye-catching wave of “visits to China.” Leaders from France, Canada, the United Kingdom, and Germany have visited China successively, accompanied by large business delegations, highlighting China's attractiveness as a source of stable growth for the world economy. The endogenous driving force of economic and w88 cooperation is undoubtedly the most direct reason for attracting political leaders from many countries to visit China. China's stable macroeconomic performance and soaring industrial and technological strength cannot be denied or ignored. Cooperation with China is undoubtedly the most rational business choice.

The deeper logic is: China is providing extremely valuable certainty to a turbulent world. When unilateralism and protectionism are rampant and the international order is under attack, China has always adhered to multilateralism, upheld the international rule of law, and demonstrated a high degree of policy continuity and predictability. China is not afraid of unilateral bullying, dares to face threats, launches forceful counterattacks, and firmly defends its legitimate rights and interests. Even many Western developed countries deeply appreciate China's rock-solid determination and courage. It is China's courage to fight that has won us huge international reputation and trust. At the same time, as a world power, China resolutely refuses to abuse its strength and power. It has never tried to use its power to obtain improper benefits, but always abides by WTO rules and obligations. As long as any country respects China's national sovereignty and does not infringe on China's national security, China is willing to carry out equal and mutually beneficial cooperation with it. Even if there may be certain w88 frictions and investment disputes, they can all be resolved through equal consultation. Not only that, China is actually further increasing independent and unilateral opening up, constantly improving internationalization, legalization and marketization, and providing a more open, fair and predictable market for global w88 and investment partners.

Standing at the intersection of history and the future, the profound meaning of the judgment that “investing in China is not an option, but a must” has become increasingly clear. This is a rational grasp of economic laws, market logic and the general trend of the times. It is also a profound change in international capital's understanding of the Chinese market. For those investors who hope to seize opportunities in the wave of the times and share the dividends of future growth, walking with China means walking with the future.

(The author is the dean of the China WTO Research Institute at the w88 casino)

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