Vice Minister of Commerce Yan Dong: Make China the Best Export Destination for More Countries

Recently, Vice Minister of Commerce Yan Dong delivered a speech at the China Development Forum 2026 Annual Conference on the theme “Dealing with Uncertainty: Global Risks, Growth Opportunities, and Cooperation,” stating that economic globalization remains an unstoppable historical trend. China’s high-quality economic development injects certainty into a world full of chaos. The Ministry of Commerce will build more channels for connection and create scenarios to promote consumption through imported goods, making China the preferred export destination for more countries.

Yan Dong pointed out that while the international economic and trade order is changing, the overall trend of economic globalization remains unchanged. IMF research shows that economic fragmentation could lead to a 7% loss in global GDP, but economic globalization continues to advance amid twists and turns. According to UNCTAD, global trade volume will surpass $35 trillion in 2025, a 7% increase and a new record high; global foreign direct investment will reach $1.6 trillion, even after excluding the flow of funds through global financial centers, still growing by 5%; the average transnational operation index of the top 100 multinational corporations is on the rise. Practice has proven that even in the face of setbacks, economic globalization remains an unstoppable historical trend.

While technological innovation tracks are changing, the development law of open empowerment and innovation remains unchanged. In recent years, a new round of technological revolution and industrial transformation has deepened, especially with rapid breakthroughs in frontier technologies like artificial intelligence, creating new historical opportunities but also bringing about conflicts in rules, social risks, governance challenges, and other issues. A few countries still attempt to impose technological blockades, create technological gaps, and decouple development. However, open innovation remains the better choice, for example, open-source AI models lower R&D barriers and allow more people to participate.

While security resilience considerations are changing, the common pursuit of win-win cooperation remains unchanged. In trade and economic cooperation, efficiency was prioritized in the past, but now security considerations are more prominent. Trade and economic issues are becoming politicized, tool-ized, and weaponized. The trend toward localized, decentralized, and group-based supply chain layouts is evident, and the global openness index continues to decline. However, win-win cooperation remains the goal of people’s hearts. For example, in the past five years, nearly 50 regional trade agreements have been added, and South-South cooperation continues to strengthen. The “BRICS cooperation” has deepened and become more practical.

Yan Dong stated that China’s high-quality economic development injects certainty into a world intertwined with chaos. The “14th Five-Year Plan” outlines a grand blueprint for China’s economic and social development over the next five years and makes important arrangements for expanding high-level opening-up. We will resolutely implement these plans, adhere to opening up to promote reform and development, and strive to provide more opportunities for all countries, including “Buy in China,” “Export to China,” and “Invest in China,” as well as opportunities brought by innovative cooperation and open win-win partnerships.

Regarding the opportunities of “Buy in China,” Yan Dong said that last year, China’s total retail sales of social consumer goods exceeded 50 trillion yuan. When calculated by purchasing power parity, China’s consumer market is already the largest in the world, with segments like automobiles, mobile phones, and home appliances being the biggest markets globally. As China moves toward becoming a high-income country, the public’s demand for high-quality, diverse lifestyles will continue to grow.

The launch of the “Buy in China” brand campaign aims to attract international tourists for inbound consumption and enable domestic consumers to purchase quality products from around the world, realizing “Buy Globally in China.” “We will continue to unleash the potential of the large market, promote the expansion and upgrading of goods consumption, and implement actions to improve service consumption and benefit the people.”

Compared to goods consumption, service consumption features higher frequency, larger multiplier effects, and sustainable growth, making it a key focus for boosting overall consumption. The Ministry of Commerce will promote pilot projects for new forms, models, and scenarios of consumption, vigorously cultivate new growth points in service consumption. “We believe that China’s super-large market will provide vast development space for enterprises from all countries,” Yan Dong said.

Regarding the opportunities of “Export to China,” Yan Dong noted that over the past five years, China’s total imports exceeded $15 trillion. During the China International Import Expo last year, China announced the launch of the “Shared Big Market · Export to China” series of activities to support more high-quality global goods and services entering the Chinese market. This year, the Ministry of Commerce has already held over 100 export promotion events in Beijing, Shanghai, Zhejiang, and other regions, with more planned throughout the year.

The Ministry of Commerce will promote coordinated efforts both online and offline, build more channels for connection, and create scenarios to boost consumption of imported goods, helping relevant countries improve their export capacity. “We welcome enterprises from all countries to seize the opportunity of ‘Export to China’ and make China the best export destination for more nations,” Yan Dong said.

Regarding the opportunities of “Invest in China,” Yan Dong pointed out that in recent years, China has been steadily expanding its opening-up, proactively aligning with high-standard international trade rules, and implementing strategies to upgrade free trade pilot zones. Over the past five years, China has attracted more than $750 billion in foreign investment. “Many multinational companies say that ‘Investing in China is investing in the future.’ We will continue to enhance the ‘Invest in China’ brand, fully implement the national treatment for foreign investment, create a world-class business environment, and turn enterprise needs into our service offerings.”

The Ministry of Commerce will promote the expansion and improvement of the service sector, focus on opening up, expand market access, improve the negative list management for cross-border services trade, coordinate the development of productive and consumer services, and vigorously develop service trade. The opening and development of China’s service industry will bring new business opportunities for enterprises worldwide.

Regarding innovation cooperation, Yan Dong said that in recent years, China has become a testing ground, application field, and profit zone for global innovation. China will accelerate the development of new quality productivity, share original technologies and innovation scenarios with the world, support international joint R&D and application promotion, and foster an open innovation ecosystem. “We will optimize policies for old product replacement, focus on supporting green and intelligent products and offline retail, and create space and vitality for new industries and new tracks. Both domestic and foreign enterprises have many opportunities in this area.”

On the opportunities for open and win-win cooperation, Yan Dong emphasized that China is committed to safeguarding the multilateral trading system, announcing that it will not seek new special and differential treatment in current and future WTO negotiations. “We will constructively participate in global economic governance and push for positive outcomes at the 14th WTO Ministerial Conference.”

“Spring is now in full bloom in Beijing, vibrant and full of life. Having gone through winter, we realize how precious spring is. The more uncertainties and risks there are, the more valuable trust and cooperation become.” Yan Dong said that the Ministry of Commerce is willing to work with everyone to show more sincerity and practical measures, expand opening-up and cooperation, jointly face challenges, and promote common development.