China's modernization will create new strategic opportunities worldwide, official says

China's pursuit of high-quality development in advancing its modernization will create new strategic opportunities for Australia and countries around the world, a senior Chinese official said on Thursday.

Speaking at the ninth Meeting of the China-Australia High-Level Dialogue, Long Guoqiang, vice-president of the Development Research Center of the State Council, emphasized that sustained dialogue across government, business, and civil society between the two countries can deepen consensus, foster cooperation, and promote shared development.

According to Long, from 2021 to 2025, China's economy is expected to have grown by approximately $5 trillion in cumulative GDP, with its annual contribution to global economic growth maintaining around 30 percent.

Against a backdrop of rising unilateralism and protectionism internationally, China has consistently advocated for inclusive economic globalization that benefits all, and will adhere to its fundamental national policy of opening up to the world.

Long highlighted China's unilateral liberalization measures, including expanding visa-free access to more countries and implementing zero import tariffs for the least developed nations.

Additionally, China is steadily promoting institutional opening, advancing the development of free trade pilot zones and the Hainan Free Trade Port, while striving to build a market-oriented, law-based, and internationally competitive business environment, he said.

Long added that China also pursues win-win openness through Belt and Road cooperation, and serves as one of the top three trading partners for 157 countries and regions globally.

While acknowledging certain risks and challenges, such as intensified trade protectionism, he said China's economy remains resilient, dynamic, and full of potential, with a fundamentally positive long-term outlook that will not change.

China's improvement of consumption and industrial structures will offer expanded market opportunities for the world, he said, adding that its ongoing openness will create additional avenues for global investment. Furthermore, innovation-driven growth will support global technology cooperation, industrial upgrading, and China's transition to a green, low-carbon economy will contribute significantly to global climate action.

Looking ahead, China plans to steadily expand institutional opening and align its standards in areas such as intellectual property protection, industrial subsidies, environmental regulations, and labor protections with international standards, Long said.

He also highlighted China's commitment to gradually opening key sectors, including telecommunications, internet, education, culture, and healthcare, in an orderly manner.