“China’s economy maintained strong growth in 2024 despite global challenges, expanding by 5 percent and contributing around 30 percent to global economic growth,” said Li Xuesong, a deputy to the National People’s Congress and director of the Institute of Economics at the Chinese Academy of Social Sciences, in a recent interview with GDToday in Beijing.

He highlighted major structural shifts in China’s economy, including the added value of core digital economy industries reaching 10 percent of GDP a year ahead of schedule. New energy vehicle production exceeded 13 million units, making up over 40 percent of total automobile output, while non-fossil fuel power generation neared 40 percent of the energy mix.

Li also emphasized China’s ongoing optimization of its foreign investment structure. While some multinational companies are adjusting their production across regions, many are increasing investment in China and establishing high-tech joint ventures. 

He added that as China is cultivating a more market-oriented, law-based, and internationalized business environment, strengthening its industrial supply chains, and further opening up its service sector, the country will remain a prime destination for global investors.