China News Service, Beijing, January 18 (Reporter Li Xiaoyu) Wei Jianguo, former Vice Minister of the Ministry of Commerce of China, said at the "State Forum: 2024 Annual Meeting" held on the 18th that China's economy will be "dragon raising its head" in 2024, and the foreign trade situation will get better and better.
He said that China's foreign trade has delivered a brilliant "report card" in 2023, indicating that the overlapping effect of policies to stabilize foreign investment and foreign trade has emerged.
In 2024, foreign trade import and export will not only stabilize and pick up, but the situation will also get better and better. Both import and export trade will return to positive growth by the end of the first quarter of this year, and the market size and potential of foreign trade will exceed that of 2023.
On January 18, Wei Jianguo, former Vice Minister of the Ministry of Commerce, delivered a speech at the "State Forum: 2024 Annual Conference".
Photo by reporter Cui Nan
Wei Jianguo believes that the speed of recovery of China's consumer market is surprising.
The total retail sales of consumer goods will reach 47.1 trillion yuan in 2023, a year-on-year increase of 7.2%. The contribution of domestic demand to economic growth is constantly increasing. To grasp domestic demand in 2024, we still need to promote consumption.
He predicts that starting from the Spring Festival this year, no matter whether it is urban, rural or online or offline, whether it is green consumption, travel consumption, silver-haired consumption, appearance consumption, etc., all new models and new tracks will emerge in endlessly, which will not only play a role in China's economy. The promotion and pulling effect, and more importantly, stimulates the innovation and investment confidence of enterprises, especially private enterprises.
Wei Jianguo believes that it is initially estimated that overall consumption in 2024 will exceed that in 2023, and the total retail sales of consumer goods will exceed 50 trillion yuan.
He said that 2024 will be a year for China to open up to the outside world at a high level. It will implement a larger scope, wider field, and deeper opening to the outside world, and actively align with international high-standard economic and trade rules.
The negative list for foreign investment access will be further shortened, and openness and transparency will become greater and greater.
There will also be substantial progress in connecting free trade zones and free trade ports with international high-level economic and trade rules.
(over)