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China’s commerce minister highlights strategies for trade development in 2024

Beijing, 9 January, 2024 (GNP): Minister of Commerce Wang Wentao highlighted China’s concerted efforts to transition into a quality-focused global trader, affirming the nation’s resilience and strategic outlook during an economic climate seminar held in Beijing.

Minister Wang Wentao provided insights into China’s foreign trade development in a special report, emphasizing the nation’s ability to withstand global economic pressures.

Despite challenges in 2023, China’s foreign trade maintained stability, showcasing resilience amid evolving global dynamics.

Highlighting the positive aspects of China’s trade, Minister Wang noted that the structure of foreign trade became more refined, forging diversified partnerships, a testament to China’s robust economic fundamentals.

“While acknowledging external uncertainties, the underlying strengths of China’s economic growth remain unchanged, providing a robust foundation for foreign trade development,” affirmed Minister Wang.

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Expressing confidence in China’s capability, Minister Wang underscored the nation’s determination to achieve new milestones in advancing high-quality trade at an elevated level.

In adherence to the guidelines from the 20th National Congress of the Communist Party of China and recent Central Economic Work Conference directives, the Ministry of Commerce is committed to intensifying high-level trade openness.

The ministry aims to cultivate novel trade catalysts, expand intermediate goods trade, digital trade, service trade, and cross-border e-commerce exports. Additionally, it intends to deepen international economic and trade collaborations.

Minister Wang’s strategic vision encapsulates China’s proactive stance towards fostering innovative trade mechanisms and forging stronger international economic ties, positioning the nation as a leading advocate for high-quality global trade.