China's transformation nurtures great opportunities

China's steady and healthy growth has long injected certainty and positive energy into the global economy. Of late, however, voices at home and abroad are arguing that the "golden age" of China's investment and development is over. However, the reality is China has never been found lacking in opportunities. As the economy accelerates transformation and upgrading, it is creating unprecedented prospects for global partners.

China's manufacturing industry has ranked first globally for 15 consecutive years, with 80 percent concentrated in traditional sectors such as chemicals, machinery, light industry, and textiles. These industries are moving toward higher-end, smarter, and greener development, creating new opportunities. At the same time, emerging industries are striking root.

China has been the largest market for industrial robots for 12 years now, its multiple AI models rank among the world's topmost, and it ranks second globally in new drug development, accounting for 20 percent of the world's new pharmaceuticals in the pipeline. Thanks to its open approach, China is advancing future industries and sharing the dividends of industrial upgrading with the world.

China is rising quickly on the global innovation map, contributing to technological progress and human well-being. In 2024, China's R&D spending exceeded 3.6 trillion yuan ($505.61 billion), close to the Organisation for Economic Co-operation and Development's average in intensity. It ranks first worldwide in invention patents and high-level academic publications. Science and industry are increasingly getting integrated. China also has one of the world's largest talent pools, producing more than 5 million STEM graduates each year. This "talent dividend", especially in engineering, will continue to fuel innovation and growth.

Consumption upgrading creates new momentum

With per capita GDP above $13,000, China's super-sized market is steadily expanding. Retail sales of consumer goods are expected to surpass 50 trillion yuan in 2025, consolidating its role as the world's second-largest consumer market. China has become the world's largest online retail market for 12 consecutive years, while it remains a global leader in auto and appliance sales. Service consumption — accounting for 46.1 percent of China's household consumption expenditure — still has ample room to grow compared with in developed economies. The rise of international consumption hubs and county-level market upgrading will offer brands fresh opportunities to scale nationwide and globally.

Infrastructure development remains a strong driver

China's vast territory ensures ongoing demand for infrastructure. In central and western regions, transport density is still far below that in the coastal region, creating ample space for railways, highways, and intercity connections. Projects such as cross-sea bridges and high-speed rail corridors are improving logistics efficiency and regional integration. Meanwhile, new infrastructure opportunities — such as in computing power, mobile networks, and smart cities — are arising, opening a broad global market.

Urbanization and renewal bring fresh opportunities

China's urbanization is shifting from rapid expansion to quality improvement. The focus now is on city clusters and metropolitan areas, people-centered modern cities, and renewal of older urban districts. Upgrading urban villages, renovating old communities and improving flood control and underground networks will enhance urban living standards and create new areas of investment.

Improving livelihoods generates sustainable prospects

China's Human Development Index continues to rise, and demand for childcare, education, healthcare and elderly care is expanding. In 2025, China will have 4.5 nursery care places per 1,000 people for children under the age of three, but gaps remain compared with advanced economies. With over 300 million people aged 60 and above, there is still a shortage of nursing beds, doctors, and nurses. Addressing these challenges will generate new jobs and market opportunities in social services.

In sum, the idea that China's opportunities are diminishing is misplaced. From industrial upgrading and technological innovation to market expansion, infrastructure building, urban renewal, and improved social services, China is generating vast opportunities that extend well beyond its borders. To invest in China is to invest in the future.

The article is an abridged English translation of a People's Daily article. The views don't necessarily represent those of China Daily.