China Moves From World Factory to World Market Amid Global Uncertainty

From the World Economic Forum in Davos to press briefings by China's State Council Information Office, a consistent message is being sent to the global community: amid a fragile global economic recovery and rising undercurrents of trade protectionism, China is not only willing to remain the world's factory, but is increasingly capable and determined to become the world's market.

A Market Backed by Scale and Vitality

China's ability to function as a global market is rooted in the size and dynamism of its domestic demand. With a population of more than 1.4 billion and over 400 million middle-income earners, China's per capita GDP has surpassed USD 13,000. This vast population base, combined with steadily rising incomes, has generated diverse and robust consumption demand, creating a market depth unmatched globally.

Daily consumption figures alone underscore this scale: China consumes around 700,000 tonnes of grain, 98,000 tonnes of cooking oil, 1.92 million tonnes of vegetables, and 230,000 tonnes of meat each day. By opening and sharing its enormous domestic demand, China delivers tangible orders and business opportunities to global companies.

In 2025, China's imports of agricultural products approached RMB 1.5 trillion. The number of overseas agri-food enterprises registered with Chinese customs increased by 83,000 during the year, bringing the total to more than 500,000. These figures highlight how China's domestic consumption is translating directly into global trade flows.

Deepening Reforms Unlock Further Potential

China's market potential continues to expand as reforms move deeper. The release of an updated negative list for market access, the implementation of the Law on Promoting the Private Economy, and comprehensive measures to address “involution-style” competition—through optimizing industrial layouts and strengthening constraints on local investment promotion—are all advancing the development of a unified national market.

At the same time, China is coordinating efforts to improve livelihoods with policies to boost consumption, while aligning investment in physical assets with investment in people. Incremental investment is being transformed into gains in both social welfare and economic growth. As these reform initiatives are implemented in greater depth, the growth prospects of the Chinese market remain vast, with abundant opportunities yet to be unlocked.

A Clear Willingness to Open Further

China's determination to act as a global market is most evident in its unwavering commitment to openness and its pragmatic policy actions. In recent years, China has translated its opening-up pledges into concrete global benefits through institutional arrangements and flagship platforms, most notably the China International Import Expo (CIIE).

As the world's first national-level exhibition dedicated exclusively to imports, the CIIE provides companies worldwide with a direct gateway to China's 1.4 billion-consumer market. It has also become a key platform for efficiently matching global goods, technologies, and services with Chinese demand.

Beyond the CIIE, the expansion of pilot free trade zones, the development of cross-border e-commerce comprehensive pilot zones, and the deepening of Belt and Road economic and trade cooperation continue to release dividends from China's market. China has also implemented zero-tariff treatment on 100% of product categories for least developed countries with which it has diplomatic relations. In 2025, imports from these countries grew by 9%.

These proactive measures demonstrate that China is not only a beneficiary of economic globalization, but also an active contributor and advocate. They reflect a firm commitment to the principle of fostering shared prosperity with its trading partners through China's own development.

Looking Ahead

Going forward, China plans to further expand opening-up efforts, allowing its vast domestic market to become an even broader platform for shared growth. As global economic uncertainties persist, China's transition toward becoming a “world market” is set to create new momentum for international trade and common development worldwide.