China vows all-out efforts on trade and FDI in fresh bid to kick-start economy

Commerce ministry pledge on key 2025 goals comes as China and Britain vow deeper financial links during Chancellor Rachel Reeves’ visit

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Chinese Vice-Premier He Lifeng with Britain’s Chancellor of the Exchequer Rachel Reeves, as the China-UK Economic and Financial Dialogue is revived in Beijing on Saturday. Photo: AP

Published: 10:38pm, 12 Jan 2025

China has pledged all-out efforts this year to stabilise foreign trade and draw overseas investment, as it tries to defuse external risks and support its ailing economy.

The Ministry of Commerce outlined its key goals for 2025 on Sunday, including opening up the China market wider, deepening international collaboration on supply chain building, and stabilising foreign trade and capital flows.

In a statement on its website following a two-day annual meeting, the ministry also pledged to boost domestic consumption, “actively” integrate with international trade standards and practice, deepen bilateral, multilateral and regional economic and trade cooperation, “prevent and defuse key risks” and “firmly safeguard national security”.

The commerce ministry’s meeting coincided with a two-day visit to China by British finance minister Rachel Reeves.

Reeves, who arrived in Beijing on Saturday, joined Chinese Vice-Premier He Lifeng in co-hosting the China-UK Economic and Financial Dialogue – an event revived after nearly six years marked by friction over issues from security to Beijing’s human rights record and the national security law in Hong Kong, a former British colony.

Chinese Vice-Premier He Lifeng and British Chancellor of the Exchequer Rachel Reeves address a press conference after the 11th China-UK Economic and Financial Dialogue, in Beijing on Saturday. Photo: AFP

China’s post-Covid economy has been struggling to take off in earnest amid a property market downturn and weak investor confidence. It is also bracing for more uncertainties with Donald Trump set to return to the White House next week.