China News Service Beijing | On July 18, at the theme press conference of the "High-quality completion of the 14th Five-Year Plan" held by the Information Office of the State Council of China today, Minister of Commerce Wang Wentao announced that China has reached a number of key indicators in the field of economy and trade: the scale of goods trade has firmly ranked first in the world for five consecutive years, the scale of service trade remains the second in the world, and the cumulative actual use of foreign capital has exceeded the expected target of US$700 billion since the 14th Five-Year Plan.

China's foreign trade has outstanding resilience, and the quality of foreign investment has increased

According to reports, China's foreign trade has outstanding resilience, and the international market share of goods export and import has stabilized at more than 14% and above 10% respectively.

The scale of service trade ranks second in the world, with residents' service consumption expenditure increasing by 3.5 percentage points to 46.1% in the past four years.

At the same time, the quality of foreign investment in China has also leaped across the board, the investment attraction structure has continued to be optimized, and the proportion of investment in multinational enterprise R&D centers and high-end manufacturing industries has increased significantly. Wang Wentao emphasized that "China's attractiveness as a global investment destination is constantly increasing."

In addition, China's consumption scale is about to break through, with the total retail sales of consumer goods (total retail sales) growing by 5.5% per year for four consecutive years, and is expected to exceed 50 trillion yuan for the first time in 2025.

At present, China's consumer market size remains second in the world.

Reduce the negative list of foreign investment access and strengthen international cooperation

China News Service learned from the press conference that China's foreign investment average annual growth rate exceeds 5%, and its scale is firmly ranked among the top three in the world.

On the one hand, China and the countries that jointly build the "Belt and Road" have signed a number of memorandums of cooperation in production and supply chains to promote the coordinated development of manufacturing, new energy and other fields.

On the other hand, China's foreign contracting projects have "steady and improved", focusing on the layout of transportation and energy infrastructure projects.

Wang Wentao also pointed out that pressures such as global supply chain reconstruction and rising trade protectionism still exist. He said that China's Ministry of Commerce will further reduce the negative list of foreign investment access, promote the reform of "domestic and foreign trade integration", and strengthen intellectual property protection to consolidate its position as a major economic and trade power. According to data from the General Administration of Customs of China, China's total import and export value in 2024 was 41.76 trillion yuan, accounting for 14.7% of the global share.

Editor in charge: Li Xia