In a major effort aimed at deepening economic ties with Africa, China announced recently that it will grant duty-free access to 100 percent of products originating from 33 African countries.
China's export performance has remained robust despite the restructuring of global industrial supply chains and the overall economic downturn, indicating the continued advantages of the country's manufacturing sector.
The implementation of the China-ASEAN Free Trade Area 3.0 will foster a more inclusive and sustainable regional economy, bolstering supply chain connectivity and resilience between China and the member states of the Association of Southeast Asian Nations.
A look at China's economy in August 2024
Restrictions on foreign investment in the manufacturing sector will be lifted with the release of the 2024 version of the negative list for foreign investment access, which will come into effect on Nov 1.
China's economy remained generally stable in July with the sustained recovery of production and demand, steady employment and prices, continuously expanding new growth drivers and solid progress in high-quality development.
The central leadership of the Communist Party of China unveiled a sweeping plan on July 22 to deepen reform and modernize the country's governance system and capacity, detailing major initiatives to bolster high-level opening-up and self-reliance in science and technology.
As China's small and medium-sized enterprises operate in an increasingly favorable environment, their vitality and resilience are further bolstered, a report showed.
