Policy moves renew 'sense of confidence'

Focus on expanding fiscal spending, boosting domestic consumption hailed

China's new policy push outlined in the 2025 Government Work Report for boosting domestic consumption, expanding fiscal spending and advancing opening-up has highlighted its economic prospects and more opportunities for foreign businesses, according to foreign experts.

Jelena Grubor Stefanovic, director of the representative office of the Serbian Chamber of Commerce and Industry in China, said the report, delivered by Premier Li Qiang on March 5 at the opening of the third session of the 14th National People's Congress, China's top legislature, offered a "candid assessment" of where the country currently stands, and sent an "encouraging" sign for China-based foreign businesses.

"The focus on expanding fiscal spending and boosting domestic consumption is a clear sign that China is committed to stabilizing the economy and fostering sustainable growth," she said. "This provides a positive environment for foreign businesses indeed, as it could translate into more opportunities in sectors directly benefiting from increased government spending, such as consumer goods, technology, green energy and infrastructure."