China to improve global economic recovery through its high-quality development

China's sharpening focus on developing new quality productive forces and promoting high-quality development will inject strong impetus into global economic recovery and growth, and offer immense business opportunities for investors both at home and abroad, according to the country's top economic regulator.

Zheng Shanjie, head of the National Development and Reform Commission, said the country will take solid steps to promote industrial innovation through scientific and technological innovation, bolster industrial upgrade, nurture strategic emerging fields, and propel the in-depth integration of digital and real economies, so as to accelerate the development of new quality productive forces.

Zheng made the remarks during the China Development Forum, which kicked off on Sunday in Beijing. He said more efforts will also be made to develop future-oriented industries; foster new growth engines in fields like bio-manufacturing, commercial spaceflight and low-altitude economy; open up new fields such as quantum technology and life sciences; and launch an "artificial intelligence plus" initiative.

He highlighted how the recovery momentum of China's economy will be further consolidated and strengthened, and the country has the confidence, capabilities and conditions to meet its economic growth target for this year.

China has favorable conditions for fostering new quality productive forces given its innovation-driven development strategy, increasing investments in bolstering technological innovation, and people's rising demand for high-quality products and services, which present enormous development opportunities and promising prospects for multinational corporations, he added.

Citing that China is an important driving force for world economic development, Zheng said the country will foster a world-class business environment that is market-oriented, law-based and internationalized; expand high-level opening-up and strengthen international cooperation in sci-tech; and shorten the negative list for foreign investment access, to further attract foreign businesses to invest in China.