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Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
Commenting on China's economic achievements, Yu Chunhai, Acting Dean of the School of Economics at Renmin University of China, noted that openness is a distinctive feature of China's modernization. During the 14th Five-Year Plan period, despite headwinds in economic globalization, China consistently promoted high-level openness, which consistently provided powerful impetus to China's modernization.
Foreign trade is a vital part of China's open economy. During the 14th Five-Year Plan period, China's share of global merchandise exports and imports consistently remained above 14% and 10%, respectively. Merchandise trade consistently ranked first globally, while services trade ranked second. In 2024, total services trade exceeded USD 1 trillion for the first time.
The structure of foreign trade was continuously optimized, with the share of exports of high-tech or high-value-added products increasing significantly; the export of knowledge-intensive services grew rapidly, becoming a new driver of growth in services trade.
At the same time, China and ASEAN have remained each other's largest trading partners for many years, and the share of foreign trade turnover with countries participating in the Belt and Road Initiative increased from 29.1% in 2020 to 50.3% in 2024. Today, China is the main trading partner of more than 150 countries and regions.
Bilateral investment represents a more advanced form of openness and an effective way to deeply integrate a country into the global economy.
In terms of attracting foreign investment, as of June 2025, the cumulative actual use of foreign investment during the 14th Five-Year Plan period in China reached USD 708.73 billion. High-tech areas such as biomanufacturing, artificial intelligence, and green and low-carbon technologies have become new growth areas for investment in China.
In terms of foreign investment, the total volume consistently ranks among the top three global leaders. Foreign direct investment flows from China reached USD 192.2 billion in 2024, accounting for 11.9% of the global total.
China, while promoting its own high-quality development, is simultaneously making effective contributions to the economic and social development of relevant countries, especially to the industrialization and modernization processes of countries in the global South.
Institutional openness is steadily advancing to a high level. During the 14th Five-Year Plan period, China's 22 pilot free trade zones actively integrated high-standard international trade and economic regulations, achieving a number of achievements in institutional innovation.
A comprehensive access management system for foreign investment, based on national treatment at the admission stage and the use of negative lists, has been fully implemented; pilot projects to open up service sectors such as telecommunications, healthcare, and finance are being consistently implemented; the Regional Comprehensive Economic Partnership is being effectively implemented, and work is actively underway to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement.
On December 18, 2025, the Hainan Free Trade Port officially launched the island-wide independent customs operation regime, becoming an important gateway for China's opening up in the new era.
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