(ECNS) -- Nvidia CEO Jensen Huang called China's market "truly magical" and "unique" during his visit to the third China International Supply Chain Expo last week, underscoring its enduring allure for multinational enterprises navigating an evolving global economy.
China is a must-have option for global enterprises
As the world's second-largest consumer market, China is home to the largest middle-income population globally, with tremendous investment and consumption potential. Any product multiplied by 1.4 billion people undoubtedly represents a massive opportunity.
According to China's Ministry of Commerce, total retail sales of consumer goods rose from 39.1 trillion yuan ($5.45 trillion) in 2020 to 48.3 trillion yuan in 2024, with an average annual growth of 5.5%. This year, sales are expected to surpass 50 trillion yuan.
China's retail sales amount to about 80% of the United States' in nominal terms. But when adjusted for purchasing power parity, China has already overtaken the U.S., reaching roughly 1.6 times its size, according to the World Bank—a sign of growing domestic demand and the rising clout of its consumer economy.
China's enormous market demand continues to draw the attention of global enterprises. For any multinational company pursuing long-term development, its market is a must-have option.
China surpassed its foreign investment target for the 14th Five-Year Plan period, utilizing $708.73 billion by the end of June 2025—six months ahead of schedule, the Ministry of Commerce said. During the same period, 229,000 new foreign-funded enterprises were established, marking an increase of 25,000 compared with the previous five-year cycle.
The value of investment in China is still rising.
Chinese market boasts big advantages for foreign businesses
As global economic growth slows, the certainty offered by the Chinese market becomes even more valuable, not only because of its continuously upgrading consumer demand, but also its deep-rooted advantages that allow global enterprises to take root with confidence.
China boasts the world's most complete industrial system, a stable supply and industrial chain, talent dividends, and an increasingly sound legal framework for foreign investment.
Besides, its innovation-driven development continues to make breakthroughs, creating a perfect closed loop between innovation vitality and market demand. New technologies developed by companies can quickly find application scenarios, while emerging market demands in turn spur further technological innovation.
This dynamic provides multinational enterprises with a unique environment where they can develop in China, be applied in China, and get updated in China.
What's even more valuable is China's long-term political and social stability, making it one of the safest countries in the world, a fact widely recognized internationally.
As widely acknowledged across the industry: China is and will continue to be an ideal, secure, and promising destination for foreign investment.
China builds win-win network, pushing for high-level openness
High-level opening-up has been a key catalyst behind China's continuous development and remarkable achievements.
At a time when unilateralism and protectionism are on the rise around the world, the openness and vitality of the Chinese market serve as a stabilizer for the global economy.
It has been steadily shortening its negative list for foreign investment access.
All market access restrictions in the manufacturing sector have been entirely removed.
Pilot programs aimed at opening up service industries including value-added telecommunications and biotechnology are progressing in an orderly manner.
Twenty-two pilot Free Trade Zones are leading the way in reform and innovation.
China grants a zero-tariff treatment to cover 100 percent of tariff lines for all 53 African countries with which it has diplomatic ties, according to Xinhua.
China is weaving a win-win network with an open stance.
As it opens its doors ever wider, China not only provides opportunities for global businesses, but remains a powerful engine for global economic growth.
（By Gong Weiwei）
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