(ECNS) -- International auditing company KPMG released its "Global Economic Outlook 2025" on Tuesday. The new report has underscored China's continued importance in the global strategies of multinational corporations, highlighting the country's vast market potential and pivotal role in global supply chains.
It attributes this to the nation's significant market size, with over 1.4 billion people making it the world’s second-largest consumer market. Meanwhile, China has the world's largest and fastest-growing middle-income group, driving demand for upgraded consumption. Additionally, China's comprehensive and stable supply chain infrastructure further cements its strategic value to global firms.
The report also noted a shift toward high-end and service-oriented foreign investment as China accelerates technological innovation and economic restructuring. From January to October 2024, the share of foreign investment in China's high-tech manufacturing sector rose to 11.6 percent, a 0.7 percentage point increase from the same period last year. Key growth areas included medical devices and equipment manufacturing, which saw a 61.7 percent surge, and computer and office equipment manufacturing, which grew by 48.8 percent.
Looking ahead, the report projects that China will deepen its commitment to high-level opening-up policies by 2025, aiming to enhance the business environment for foreign investors and relax market access in the services sector. The nation's macroeconomic environment is expected to remain stable, further bolstering confidence among multinational corporations.
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