China hailed as stabilizing force in global growth

Green transformation, industrial ecosystem, visa-free measures attract foreign investors

China, which is advancing on its unique path to modernization, has consistently acted as a stabilizing force in and major contributor to global growth, through initiatives such as green transformation and technological innovation, senior international executives said.

Beijing has demonstrated its commitment to sustainable and high-quality development, attracting global investment, said John McLean OBE, chairman of the City of London Branch of the Institute of Directors in the United Kingdom.

With a commitment to high-quality development, China is accelerating green, digital and smart transformation, which, coupled with the country's sophisticated industrial ecosystem, provides the best testing ground for the latest outcomes of technological revolution and industrial upgrading.

Such transformation has not only boosted domestic economic growth but also strengthened China's position as a key player in the global economy, said McLean, in an exclusive interview with China Daily.

He said this reflects the consistent perseverance of China's top leadership to deepen opening-up policies and foster a fair, transparent and predictable business environment for global investors.

During a meeting with more than 40 representatives of the international business community in Beijing in March, President Xi Jinping pledged to strengthen communication with foreign businesses, provide as much convenience as possible for them to trade and invest in China, and protect the legitimate rights and interests of foreign businesses in accordance with law.

From "Made in China" to "new quality productive forces", China has empowered industrial transformation and upgrading through innovation, and is set to realize higher-quality and more sustainable development, said foreign business leaders.

For years, China has been attracting global investors with its strong economic growth, adaptability and collaborative potential, McLean said, while sharing his perspectives on China's economic potential, the evolving global trade landscape, and the strengthening ties between China and the international business community.

Drawing on over 26 years of experience in China, McLean expressed strong confidence in the nation's economic management and resilience. He highlighted China's remarkable achievements over the past two decades, including advancements in technology, clean energy and artificial intelligence, which have positioned it as a global leader in innovation.

McLean said China's economic growth target of around 5 percent for this year is a reasonable and attainable goal that will bolster confidence and stability amid increasing global uncertainties.

"China's growth has always been under scrutiny — whether it's 10 percent, 8 percent or 5 percent. But its leadership in global markets has consistently demonstrated the ability to adapt and drive progress," McLean said, adding that China's GDP grew 5 percent year-on-year last year, ranking among the world's fastest-growing major economies.

He said China's recent opening-up policies, such as visa-free travel measures, are helping to reshape these perceptions and attract foreign entrepreneurs to conduct their businesses in the country.

To further encourage global exchanges, China has expanded the list of unilateral visa-free and transit visa-free countries to 47 and 55, respectively. McLean described such policies as "a significant step in the right direction", emphasizing their role in fostering greater mobility and openness.

These efforts have yielded results. Data from the National Immigration Administration showed that China processed 163 million passenger trips in the first quarter of 2025, an increase of 15.3 percent year-on-year.

Meanwhile, the Ministry of Commerce reported that foreign direct investment in the Chinese mainland in actual use climbed by 13.2 percent year-on-year in March. In the first quarter of 2025 alone, 12,603 new foreign-invested enterprises were established nationwide, representing a year-on-year rise of 4.3 percent.

Over the past five years, the return rate of foreign direct investment in the country has remained at approximately 9 percent, among the highest in the world.

Bernd Einmeier, president of the German-Chinese Association for Economy, Education, and Culture, said the stable growth momentum in China's economy serves as an important global public good, helping to buffer uncertainties across international markets.

Foreign business operations and investments in China have driven economic growth and employment, boosted technological and managerial progress and facilitated reform and opening-up. In this process, foreign businesses have thrived and generally enjoyed handsome returns, achieved win-win results and forged profound friendships with the Chinese people, he added.

During an earlier business trip to China, Apple's Chief Operating Officer, Jeff Williams, visited his company's supplier, Goertek, in East China's Shandong province and praised its use of automated manufacturing and artificial intelligence technology on the production lines. Among Apple's top 200 suppliers worldwide, more than 80 percent have factories in China engaging in related businesses.

"China is a central part of our critical supply chain, and we've been investing here for 30 years," said Williams. "We will continue to invest in China in a big way."

Expanding on his observations, McLean of the Institute of Directors in the UK encouraged global investors and businesses to explore the Chinese market, emphasizing its vibrancy, innovation and growth potential.

"Seeing is believing," he said. "Come to China, experience the opportunities and see the progress for yourself."

Maximilian Butek, executive director and board member of the German Chamber of Commerce in China, the East China region, said, "Foreign companies can invest here because they find a good business environment, and those investments are also long-term."

"We have a strong business commitment here in China," Butek said. "China's continuous efforts in modernization and its openness to foreign investment have created a dynamic market that benefits both domestic and international stakeholders."

As China moves forward, its role as a stabilizing force in the global economy will grow stronger, fostering prosperity and deeper collaboration, he added.

renqi@chinadaily.com.cn