How China is unlocking new opportunities for the global economy

A mural in Beijing depicts the history of China. The country’s economy grew by 5 per cent last year. AFP

The recent holding of the Two Sessions in Beijing – a significant event in China’s political and economic life – serves as an important window for the world to observe and understand China’s governance. The Sessions – meetings of two of China’s major political bodies – not only chart the course for the country’s future development but also open up new avenues and inject fresh momentum into global progress and the deepening of China-UAE relations.

China’s development is entering a new stage. Last year, the country’s economy grew by 5 per cent, with its gross domestic product exceeding RMB130 trillion ($17.9 trillion) for the first time. Meanwhile, major scientific and technological achievements such as the Chang’e-6 lunar mission, China’s independently developed third-generation superconducting quantum computer Origin Wukong, and a Chinese high-speed train with a speed of 450kph were unveiled, marking out the country as the economy with the fastest-growing innovation capability globally over the past decade.

This year holds special historical significance. It will see the conclusion of China’s 14th Five-Year Plan and also serves as a pivotal year for deepening reforms and advancing Chinese modernisation. This year’s Two Sessions placed a strong emphasis on economic development, livelihood security, the green transition and technological innovation. The term “reform” appeared more than 40 times in the Government Work Report, fully demonstrating the Chinese government’s firm resolve to stabilise growth and livelihoods. China remains committed to high-quality development as its central task, accelerating transformations in quality, efficiency and drivers of economic growth.

China’s development will unlock new opportunities for the global economy. As the world’s second-largest economy, China boasts a solid foundation, resilience and vast potential. The underlying conditions and fundamental trends of its long-term growth remain unchanged, with its contribution to global economic growth staying at around 30 per cent. China continues to serve as an anchor of stability and a source of momentum for the world economy.

Recently, more than 100 representatives from international organisations and Fortune 500 multinational corporations attended the China Development Forum 2025. President Xi Jinping met with more than 40 global chairpersons, chief executives and representatives of business associations, emphasising that when you partner with China, believe in China and invest in China, you are partnering with opportunities, believing in tomorrow and investing in the future. He invited foreign businesses to set aside doubts, strengthen confidence and explore opportunities in China with peace of mind.

This year’s Government Work Report also introduced a series of new measures to steadily expand institutional openness and foster a first-class business environment that is market-oriented, law-based and internationalised. China remains committed to creating more opportunities for foreign enterprises and investors to grow and thrive in its market. We welcome investors from the UAE and other countries to seize this favourable moment, make long-term plans and actively engage in co-operation to share the benefits of China’s economic development.

China and the Emirates are ushering in a new future for bilateral relations. The UAE is one of the Middle Eastern countries with the broadest, deepest and most fruitful practical co-operation with China. China has been the Emirates’ largest trading partner for many consecutive years, while the UAE is China’s top export market and investment destination among Arab countries.

With the deepening of economic globalisation, bilateral co-operation between China and the UAE has continued to expand across all fields, achieving win-win results amid the wave of economic globalisation. Last year, our bilateral trade volume exceeded $100 billion for the first time, with early-stage successes in collaborative projects such as the Multiple CBDC Bridge – a multiple central bank digital currency platform – and joint production of new energy vehicles, fully demonstrating the vitality of practical co-operation between the two countries.

This year’s Two Sessions also emphasised accelerating technological innovation and promoting integrated industrial development, aims which align perfectly with the UAE’s transformation efforts led by AI+ and the digital economy. Looking ahead, our co-operation in advanced manufacturing, digital economy, artificial intelligence, new energy, biopharmaceuticals and aerospace holds boundless potential and bright prospects. These will undoubtedly propel China-UAE relations into their best period in history.

As a Chinese saying goes: “When people share the same aspirations, no mountain or ocean can distance them.” From vast deserts to thriving oases, from traditional energy co-operation to space exploration, China and the UAE have always navigated the currents of history together, with mutual trust as the vessel and innovation as the sail.

Let us continue to strengthen confidence, work in solidarity and follow the strategic consensus between President Xi Jinping and President Sheikh Mohamed to achieve new milestones in China-UAE relations in this new era. Together, we will realise the “Chinese Dream” and the “Emirati Dream”, contributing the strength of China and the UAE to building a community with a shared future for humanity.