Highlights of commerce minister's news conference

China will intensify efforts to advance high-quality trade development, deepen international cooperation and bolster innovation to further boost exports during the 15th Five-Year Plan (2026-30) period, the country's top commerce official said on Friday.

Speaking at a news conference in Beijing, Commerce Minister Wang Wentao said these measures will foster an open, cooperative and mutually beneficial global trading landscape that promotes shared development.

Here are highlights from the news conference:

China-US business ties

In essence, China-US economic and trade relations benefit both sides and bring win-win outcomes. Cooperation is the only correct path. Bilateral trade and investment have also created a substantial number of jobs in both countries.

Facts have proven that through fair, mutually respectful dialogue and consultation, China and the United States are fully capable of properly managing differences and working to address frictions to achieve mutually beneficial outcomes.

As the world's two largest economies, China and the United States share a responsibility to inject greater certainty and stability into global economic prosperity and development.

Consumption

Consumption has contributed around 60 percent on average annually to China's economic growth over the past four years, and the role of consumption as the economy's main engine has continued to strengthen.

Trade-in programs

Sales revenue under trade-in programs in China has surpassed 2.9 trillion yuan ($405.6 billion) as of end-June.

Future direction

Looking ahead to the 15th Five-Year Plan period (2026-30), the fundamentals of China's long-term economic growth remain unchanged, along with the strong potential, resilience and vitality of its consumer market.

Boosting imports

China's vast market has become a shared market for the world and will continue to serve as a source of global economic growth and vitality. As we open wider to the world, we are not only attracting foreign investment, but also expanding imports.

ODI

China's outbound direct investment grew at an average annual rate of over 5 percent over the past four years, ranking it among the world's top three global investors.