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China's opening-up attracts international business

By YAO YUXIN | China Daily | Updated: 2026-03-12 09:14
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Jiang Ying

China's commitment to high-level opening-up is creating new opportunities for global business, innovation and sustainable development as the country begins the 15th Five-Year Plan period (2026-30), according to a national political adviser.

Jiang Ying, a member of the 14th National Committee of the Chinese People's Political Consultative Conference and chair of Deloitte China, said the country's next stage of development will be defined not only by growth, but also the quality of that growth and the degree of its openness to the world.

"As we start the 15th Five-Year Plan period, China's push for high-level opening-up and win-win cooperation shows it is committed to high-quality growth through openness,"Jiang said.

She said the shift is reflected in China's policy priorities, with "high-level opening-up" rising from ninth place in the 14th Five-Year Plan (2021-25) to fifth in the impending five-year plan period. In her view, this signals that openness is becoming more central to China's efforts to strengthen competitiveness, attract investment and pursue modernization.

Jiang said the strategic adjustment comes as China accelerates the development of new quality productive forces. Fields such as artificial intelligence, the low-altitude economy, semiconductors and satellite internet are expected to drive the next phase of innovation and industrial upgrading while creating new opportunities for global collaboration.

"Facing global uncertainty, China's economy will advance steadily with its complete industrial system and strong resilience, while balancing development and risk prevention," she said.

That resilience, Jiang said, is the reason multinational companies are deepening their innovation footprint in China. The country's progress in the digital economy and green transformation is attracting more foreign firms to place high-end research and development activities in China and connect local innovation with global markets.

Examples cited by Jiang reflect this trend. Japanese automaker Nissan, under its "in China, for the world" strategy, has empowered its China-based teams to lead vehicle development, with electric vehicles made in China set to be exported to markets such as Southeast Asia and the Middle East from 2026. Pharmaceutical company AstraZeneca has made Shanghai its fifth global strategic hub, aligning its research pipeline with its global headquarters and integrating China-based research outcomes into its global operations.

At the same time, Jiang said Chinese companies are also changing their role in the global economy, moving beyond exporting products to exporting technologies, standards and industrial capabilities. In the new energy sector alone, the top 10 Chinese battery manufacturers have announced nearly 50 overseas plants, with total planned investment exceeding 550 billion yuan ($80 billion).

"Chinese enterprises' globalization has entered a new phase. Future winners will be those that can truly integrate into local economic and social networks and create value through innovation and cooperation," she said.

The shift also reflects changes in how multinational companies operate in China. Increasingly, firms are moving beyond a simple market presence to deeper collaboration, using China as a base for innovation, industrial coordination and global growth. Jiang said the same logic applies in reverse — Chinese companies going global must move beyond simple market entry and learn how to build trust, local partnerships and long-term value.

Another key issue in high-level opening-up, Jiang said, is the governance of cross-border data flows. China's regulatory approach is shifting from "rigid constraints" to "precise control", with pilot free trade zones introducing negative lists for sectors including automotive, pharmaceuticals, retail, civil aviation and reinsurance. She said future reforms should focus on harmonizing standards across free trade zones and developing digital tools to make regulatory guidance easier for companies to access.

"As China enters the 15th Five-Year Plan period, deeper opening-up will not only support China's high-quality development," Jiang said, "but also provide greater certainty and broader opportunities for global businesses."

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