Ministry of Commerce: Will expedite the revision and introduction of regulations on mergers and acquisitions of domestic enterprises by foreign investors

The Zhitong Finance App learned that on July 23, the State Information Office held a press conference on business work and operations in the first half of 2026. Meng Huating, director of the Foreign Investment Management Department of the Ministry of Commerce, said that in the second half of the year, it will continue to focus on the goal of using foreign capital to stabilize and promote excellence, further shape new advantages in attracting foreign investment, and do a good job of expanding volume, stabilizing stocks, and improving quality. In terms of volume expansion, we will continue to implement a high level of opening-up to the outside world, steadily and orderly deepen open pilot projects in fields such as value-added telecommunications, biotechnology, wholly foreign-owned hospitals and vocational skills training institutions, and support Beijing in raising the level of construction of a comprehensive national service industry demonstration zone. We will also speed up the revision and introduction of regulations on mergers and acquisitions of domestic enterprises by foreign investors.

Meng Huating said that in terms of stabilizing stocks, preferential tax policies for foreign investors to distribute profits in China to expand investment will be implemented, measures will be introduced to support foreign-funded enterprises to further expand localized production, and help stock enterprises operate and develop well. We will also optimize service guarantees, further play the role of commercial authorities at all levels as special work classes for key foreign-funded projects, and effectively guarantee the national treatment of foreign-funded enterprises, especially breaking down various hidden barriers and ensuring that foreign-funded enterprises “enter and operate”. The Ministry of Commerce holds a round table for foreign-funded enterprises every month. We will continue to expand the round-table topics and the scope of participating companies to listen to opinions and suggestions from various foreign-funded enterprises.

Meng Huating mentioned that in terms of improving quality, it will implement a catalogue of industries that encourage foreign investment, guide foreign investment in advanced manufacturing industries such as organic polymer materials, high-efficiency and energy-saving maglev power equipment, and modern service industries such as humanoid robot research and development, and modern high-end shipping services, and encourage more foreign investment in regions such as the Midwest and Northeast China. We will introduce measures to encourage the transformation of the foreign-invested service industry to integration and digital intelligence, promote the expansion of the productive service industry to high-end specialization, and upgrade the quality of the lifestyle service industry. We will also further improve the support policy for foreign-funded R&D centers, facilitate the introduction of more high-level foreign talents, and increase support for the transformation of innovative achievements, thus adding new momentum to high-quality economic development.

The transcript is as follows:

Jia Huili, Deputy Director of the Information Bureau of the Information Office of the State Council and press spokesman:

Good afternoon, ladies and gentlemen! Welcome to the press conference of the Information Office of the State Council. Today, we are regularly releasing economic data. We are happy to invite Mr. Yan Dong, Vice Minister of Commerce, to introduce business work and operations in the first half of 2026 and answer everyone's concerns.

Also attending today's press conference were: Ms. Li Li, Director of the General Department of the Ministry of Commerce; Ms. Yang Mu, Director of the Department of Market Operation and Consumption Promotion; Mr. Yang Tao, Director of the Department of Foreign Trade; and Ms. Meng Huating, Director of the Department of Foreign Investment Management.

Now, let's first ask Mr. Yan Dong to give an introduction.

Vice Minister of Commerce Yan Dong:

Good afternoon to all media friends! First of all, thank you for your long-term interest and support in business work, and I am very happy to have the opportunity to communicate with you. Next, let me first introduce the overall situation of business development in the first half of the year.

Since this year, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at the core, we have resolutely implemented the decisions and arrangements of the Party Central Committee and the State Council, thoroughly implemented the requirements of “stable employment, stable enterprises, stable markets, and stable expectations”, effectively addressed external risks and challenges, actively expanded consumption, stabilized foreign trade, stabilized foreign investment, and made steady progress in business development, providing strong support for the “15th Five-Year Plan” to get off to a good start. Specifically, it is reflected in the following four aspects:

The first is to expand the capacity and improve the quality of the consumer market. We focus on people's needs for a better life, adapt to the trend of consumption upgrading, promote consumption of services and products, and continue to stimulate the vitality of “buying in China”. Total retail sales of goods and services for social consumption increased by 2.7% in the first half of the year. Service consumption is growing well. New growth points such as housekeeping and cultural tourism are being cultivated at an accelerated pace. Residents' tendencies to “buy experiences and services” are rising, and retail sales of services have increased by 5.3%. The quality of product consumption is better, with “green” and “smart” quantities continuing to rise. The retail penetration rate of new energy passenger vehicles reached a record high of 62.4% in the second quarter. The trade-in policy led to a 13.4% increase in sales of digital and smart products in the first half of the year. Consumption scenarios are more diverse, and there are many highlights of inbound spending and holiday spending. The number of foreigners entering the country increased by 20.4% in the first half of the year. The potential of the sinking market was unleashed, and the share of county and rural consumption in the total zero social sector increased to 39.2%.

Yan Dong:

Second, the innovation and development of foreign trade is accelerating. We continue to cultivate new momentum for foreign trade, actively explore diversified markets, promote balanced trade development, enhance foreign trade resilience, and optimize the structure. In the first half of the year, imports and exports of goods reached 25.5 trillion yuan, an increase of 16.9%, and continued to make a strong contribution to the national economy. Imports and exports have become more balanced, and the “Share Big Market · Export to China” series of activities have achieved positive results. The import growth rate is 8.7 percentage points faster than the export growth rate. New momentum accelerated. Exports of high-tech products increased by 39%, trade in services innovated and developed, and exports of services increased 15.9% in the first five months. Enterprise vitality increased. In the first half of the year, private enterprises contributed nearly 60% of the increase in foreign trade, and imports and exports of foreign-funded enterprises and state-owned enterprises all achieved double-digit growth.

The third is to attract foreign investment and improve the quality. Focusing on increasing volume, stabilizing stocks, and improving quality, we are carrying out in-depth actions to use foreign capital to stabilize and promote excellence, and continue to polish the “Invest in China” business card. The number of newly established foreign-funded enterprises increased by 5.3% in the first half of the year, attracting 402.14 billion yuan in capital. The investment structure was further optimized, and the high-tech industry increased by 33.2%, and its share increased to 42.4%. Foreign investors continue to be optimistic about the Chinese market, with nearly 4,800 foreign-funded enterprises making additional investments in China in the first half of the year.

Fourth, international economic and trade cooperation has achieved new results. We insist on mutual benefit and win-win results, actively participate in global economic governance, and promote the construction of an open world economy. In terms of foreign investment, international cooperation in the production and supply chain was promoted in a steady and orderly manner. Foreign direct investment of 453.1 billion yuan was made in the first half of the year, and the turnover of foreign-contracted projects was completed at 606.3 billion yuan, an increase of 8%. In terms of multilateral and regional cooperation, maintaining the multilateral trading system, promoting the achievement of practical results at the 14th WTO Ministerial Meeting, hosting the APEC Trade Ministers Meeting and issuing the Suzhou Statement, contributed to more “China's Plan.” In terms of bilateral cooperation, under the diplomatic strategy of the head of state, Sino-US economic and trade negotiations reached a series of new agreements, injecting more certainty and stability into the two countries and the world economy. We have fully implemented zero-tariff measures with 53 countries that have established diplomatic relations with Africa. We have signed framework agreements on economic partnerships with 38 African countries, and have also accelerated negotiations to upgrade free trade agreements with South Korea, Switzerland, etc., to share opportunities and develop together with all countries.

Since this year, we have also been pressing ahead with the formulation and implementation of the “15th Five-Year Plan” special plans related to the business sector in accordance with the arrangements of the Party Central Committee and the State Council. In the next step, we will continue to focus on the priority of high-quality development, continuously improve policy effectiveness, further strengthen the domestic cycle, improve domestic and international dual cycles, and make new positive contributions to national economic development.

Next, my colleagues and I would like to answer everyone's questions. Thank you!

Jia Huili:

Thanks to Vice Minister Yan Dong for his presentation. Please start asking questions. Please inform your news agency before asking questions.

Taiga Finance Cube Reporter:

We noticed that service consumption grew well in the first half of the year, becoming a new bright spot for expanding domestic demand and a new engine driving consumption. Excuse me, what are the outstanding characteristics of current service consumption? How will service consumption be further expanded in the next step? Thank you!

Yan Dong:

Thank you for your question, I'll answer that question. As various policies to expand domestic demand and promote consumption continue to gain strength, China's service consumption has continued its new and positive development trend, full of resilience and vitality. Retail sales of services increased 5.3% year-on-year in the first half of the year. We have summarized that service consumption showed three “new” outstanding characteristics:

The first is to upgrade quality and “create something new”, and consumption vitality is more abundant. Consumer demand is shifting from “whether there is” to “good or not.” The Ministry of Commerce, together with relevant departments, is thoroughly implementing actions to improve the quality of service consumption and benefit the people, optimize the supply of services in the fields of cultural tourism, sports, leisure, etc., and promote the continuous release of demand for personalized and high-quality services. Retail sales of travel consulting and leasing, sports and leisure services increased by 11.3% and 10.4% respectively in the first half of the year, while sales revenue from travel tours and entertainment services increased by 12.3% year-on-year.

Second, kinetic energy conversion is “upgraded”, and the growth engine is more active. New business formats such as digital entertainment, online fitness, and “Internet+Healthcare” are developing rapidly. Retail sales of online services increased by 6% in the first half of the year, and communication and information services maintained a relatively rapid growth rate. Inbound spending continues to be active. Foreigners entering China without a visa increased by 30.6% year-on-year in the first half of the year, making it more convenient for overseas tourists to travel and live in China.

Third, the business model has been “renewed”, and the consumption scene is more vivid. The Ministry of Commerce and the Ministry of Finance have thoroughly implemented pilot construction of new consumption formats, new models, and new scenarios to promote the integrated development of business, tourism, culture, sports and health, and accelerated the implementation of a number of immersive and interactive consumption scenarios. In the first half of the year, sales revenue for immersive experiences such as theatrical performances and museums reached 28.3% and 24.6%. National railways operated 1,797 tourist trains and 445 customized “fan trains”, providing consumers with a richer and more interesting consumer experience.

Service consumption is not only the “ballast stone” that currently boosts consumption, but also the “main engine” for future consumption growth. In the next step, we will implement the “15th Five-Year Plan” to expand consumption, give full play to the leading role of the service consumption working mechanism, and promote the quality of service consumption to benefit the people from the following four aspects.

First, explore potential expansion and accelerate the cultivation of new growth points. Recently, together with relevant departments, we have issued policy documents on new service consumption growth points such as railway travel integration, high-quality domestic service development, and cultivating and expanding the automotive aftermarket. We will also work hard to implement them. At the same time, we will also further innovate support measures around segments such as transportation, shows, and events, and encourage local authorities to actively explore effective ways to cultivate new growth points for service consumption.

Second, refresh the scenario and innovate diverse service experiences. Strengthen efforts to pilot new consumption formats, new models, and new scenarios, promote the integration of service consumption formats, scenario innovation, and industrial agglomeration, create a number of new consumption scenarios that drive a wide range of areas and high visibility, create new demand with new supply, and activate new consumption with new scenarios.

Third, cultivate hot spots and continue to unleash consumption potential. Continue to organize “Service Consumption Season” and “Chinese Food Fair” brand activities, and organize special events such as domestic service consumption season, food carnival, and outdoor sports season. Focus on the needs of consumers for summer parent-child, leisure, travel, housekeeping, etc., and guide lifestyle service platform companies to create the “8.8 Service Consumer Festival” in a market-based manner, use activities to bring popularity, gather business momentum through popularity, and develop online and offline in conjunction with others to achieve digital intelligence and improve quality and benefit the people.

Fourth, break down barriers and fully stimulate market vitality. Clean up restrictive measures in the field of service consumption, attract more foreign investment and private capital to invest in the service consumption sector, improve the service consumption standard system, promote the revision of standards in key areas, and improve service quality through standardization. Thank you!

Poster News Reporter:

Recently, the Ministry of Commerce and other departments issued the “Action Plan for Using Foreign Capital to Secure Stability and Promote Excellence”. How does the Ministry of Commerce view the current situation of attracting foreign investment? How will the second half of the year further shape new advantages in attracting foreign investment? Thank you!

Yan Dong:

I asked Director Meng Huating of the Foreign Investment Department to answer this question.

Meng Huating, Director of the Foreign Investment Management Department of the Ministry of Commerce:

Thank you for your interest in foreign-funded work. Since this year, in the face of multiple factors such as the turbulent and intertwined international situation and insufficient momentum for global multinational investment, the Ministry of Commerce has worked with various regions and departments to steadily push forward efforts to stabilize foreign investment. The actual use of foreign capital reached 402.14 billion yuan in the first half of this year. The decline was 10.2 percentage points narrower than the same period last year. Positive year-on-year growth was achieved in May and June, and the absorption of foreign capital showed a steady and positive trend. I would like to explain further in terms of both size and structure.

In terms of scale, the stock of foreign capital is stable and increasing incrementally. By the end of 2025, China's absorbed foreign capital stock was close to 4 trillion US dollars, which is quite a large amount. From January to June of this year, the number of newly established foreign-funded enterprises increased by 5.3% year-on-year, and more than 530,000 foreign-funded enterprises contributed about 2.5 trillion yuan in tax revenue every year. According to the “World Investment Report” released by the United Nations Conference on Trade and Development in July, China has shown signs of stability in a challenging global investment environment. Overall, the “stable” tone of foreign investment has not changed.

From a structural point of view, foreign investment is moving towards new and improving, and iterative optimization. As China's industrial chain supply chain becomes more and more perfect and the level of industrial development continues to improve, we see that multinational companies are also continuing to increase investment in advanced technology and cutting-edge fields. I'm here to share with you a set of industry investment data: in the first half of the year, the high-tech industry attracted 33.2%, accounting for 42.4%, a record high; the modern service sector attracted 57%, the electronics and communication equipment manufacturing industry grew 52%, services for the transformation of scientific and technological achievements increased by 57.1%, and R&D and design services increased by 82%. All of these have strongly supported the upgrading of the industry to intelligence, greening, and integration, and have become an important force in promoting high-quality development. The “excellent” characteristics of foreign investment are even more prominent.

In the second half of the year, we will continue to focus on the goal of using foreign capital to stabilize and promote excellence, further shape new advantages in attracting foreign investment, and do a good job of expanding volume, stabilizing stock, and improving quality.

In terms of expansion, we will continue to implement a high level of opening-up to the outside world, steadily and orderly deepening open pilot projects in fields such as value-added telecommunications, biotechnology, wholly foreign-owned hospitals, and vocational skills training institutions, and supporting Beijing to raise the level of construction of a comprehensive national service industry demonstration zone. We will also speed up the revision and introduction of regulations on mergers and acquisitions of domestic enterprises by foreign investors. We will continue to build the “Invest in China” brand and carefully design a series of investment promotion activities. The China International Investment and Trade Fair is our iconic “Investing in China” exhibition. It will be held for the 26th time this year. We welcome multinational companies to actively participate in the exhibition.

In terms of stabilizing stocks, we will implement preferential tax policies for foreign investors to distribute profits in China to expand investment, introduce measures to support foreign-funded enterprises to further expand localized production, and help stock enterprises operate and develop well. We will also optimize service guarantees, further play the role of commercial authorities at all levels as special work classes for key foreign-funded projects, and effectively guarantee the national treatment of foreign-funded enterprises, especially breaking down various hidden barriers and ensuring that foreign-funded enterprises “enter and operate”. The Ministry of Commerce holds a round table for foreign-funded enterprises every month. We will continue to expand the round-table topics and the scope of participating companies to listen to opinions and suggestions from various foreign-funded enterprises.

In terms of improving quality, we will implement a catalogue of industries that encourage foreign investment, guide foreign investment in advanced manufacturing industries such as organic polymer materials, high-efficiency and energy-saving maglev power equipment, and modern service industries such as humanoid robot research and development, and modern high-end shipping services, and encourage more foreign investment in regions such as the Midwest and Northeast China. We will introduce measures to encourage the transformation of the foreign-invested service industry to integration and digital intelligence, promote the expansion of the productive service industry to high-end specialization, and upgrade the quality of the lifestyle service industry. We will also further improve the support policy for foreign-funded R&D centers, facilitate the introduction of more high-level foreign talents, and increase support for the transformation of innovative achievements, thus adding new momentum to high-quality economic development. Thank you!

Nanfang Daily Nanfang+ Reporter:

From January to June of this year, China's total import and export volume of goods was RMB 25.47 trillion, an increase of 16.9% over the previous year. How does the Ministry of Commerce evaluate foreign trade performance in the first half of the year? What do you think of the next foreign trade situation? Thank you!

Yan Dong:

This question was answered by Yang Tao, director of the Foreign Trade Department.

Yang Tao, Director of the Foreign Trade Department of the Ministry of Commerce:

First of all, thank you for your question. Everyone is very concerned about foreign trade work and the foreign trade situation. Let me give you a brief introduction. In the first half of this year, in the face of a complex external environment, our foreign trade showed the development characteristics of “stable total volume, excellent quality, and strong resilience”, providing strong support for economic growth. The first characteristic is that the total volume is stable, the scale of foreign trade has reached a new level, and the operating chassis is more stable. You also mentioned earlier that in the first half of the year, China's import and export volume of goods trade reached 25.5 trillion yuan, a record high for the same period, with a year-on-year increase of 16.9%. Among them, on a monthly basis, the import and export scale in a single month from March to June continued to reach the level of 4 trillion yuan. The pace of foreign trade development is steady, the momentum is good, and the basic market of foreign trade is stable and solid.

The second characteristic is excellent quality, the foreign trade structure is continuously optimized, and the development of imports and exports is becoming more balanced. The development of foreign trade depends not only on quantitative growth, but also on qualitative improvement. In terms of commodity structure in the first half of the year, import and export products showed “new, intelligent, and green” development characteristics. For example, integrated circuits, industrial robots, and green products all grew rapidly; in terms of balanced development, the import growth rate of 22.1% in the first half of the year was significantly faster than exports, and the monthly import growth rate remained above 20% for 4 consecutive months, demonstrating China's firm determination and responsibility as a major power to expand opening-up through practical actions.

The third characteristic is strong resilience, deepening market diversification, and continuous accumulation of potential for foreign trade development. In particular, in the face of global supply chain disruptions caused by changes in the Middle East situation in the first half of the year, China's foreign trade injected stability and certainty into global development. For example, the 139th Canton Fair gathered at the 139th Canton Fair, and the number of exhibitors and overseas buyers all surpassed previous levels. Global companies are optimistic about China, and their confidence in deepening China continues to grow, and the “circle of friends” of China's foreign trade is widening more and more.

In the future, the global economic and trade environment is complex and changing. The International Monetary Fund recently predicted that the growth rate of global trade will slow from 5% in 2025 to 3.5% in 2026, and there are still many uncertain and unpredictable factors facing foreign trade development. In the next step, we will unswervingly expand our high-level opening-up to the outside world, stabilize exports and expand imports with more practical policy measures and more convenient service guarantees. In particular, we must promote innovative trade development and balanced development, and continue to make positive contributions to global economic and trade development. Thank you!

Elephant News Reporter:

Over the past 10 years, the joint construction of the “Belt and Road” has become an important platform for China to share development opportunities with co-building countries. What are the new developments and highlights in economic and trade cooperation in the first half of 2026 in the joint construction of the “Belt and Road”? Thank you!

Yan Dong:

This question was answered by Director Li Li of the General Affairs Department.

Li Li, Director of the General Affairs Department of the Ministry of Commerce:

Thank you for your interest in the “Belt and Road” work in the business sector. Since this year, the Ministry of Commerce has earnestly implemented the spirit of General Secretary Xi Jinping's important speech on the joint construction of the Belt and Road Initiative, continued to deepen economic and trade cooperation with countries, and made positive progress, with many more highlights.

First, trade in goods with co-built countries is growing rapidly. From January to June 2026, China's total import and export volume of goods to the joint construction countries reached 13 trillion yuan, an increase of 14.8% over the previous year. Imports and exports to co-built countries in Asia, Africa, Europe, Latin America and Oceania increased by 12.3%, 19.7%, 17.5%, 20.5%, and 6.9%, respectively. In terms of commodities, imports of integrated circuits, mobile phones, and aquatic products from the joint construction countries increased by 46.7%, 40.3%, and 25.7% respectively, sharing opportunities in China's big market with the co-built countries.

Second, two-way investment with co-built countries continues to deepen. From January to June, non-financial direct investment of 120.77 billion yuan was made between China and China, accounting for an increase of 0.5 percentage points to 26.7% of the total during the same period. A number of new energy projects such as photovoltaics and artificial intelligence industry cooperation projects such as data centers have been launched one after another. At the same time, from January to June, the number of new enterprises built by the country in China exceeded 10,000, an increase of 21.6% over the previous year. China and the co-building countries are leveraging their respective comparative advantages to continuously expand more space for mutual benefit and win-win in emerging fields such as green development and the digital economy.

Third, cooperation mechanisms with co-established countries have been improved. Continuing to expand the network of high-standard free trade zones. From January to June, China's imports and exports with the co-built country's free trade partners amounted to 6.9 trillion yuan, an increase of 22.7% over the previous year, accounting for 52.8% of the trade volume with the co-built countries. Organize a series of important exhibitions with high quality. For example, the 9th China-Asia-Europe Expo attracted active participation from co-building countries, and more than 20 co-built countries set up independent pavilions. The three major brand activities, “Buy in China,” “Export to China,” and “Invest in China,” provide an important platform for co-building countries to share opportunities in the Chinese market.

In the next step, the Ministry of Commerce will work with relevant parties to thoroughly study and implement the spirit of General Secretary Xi Jinping's important speech, implement the important arrangements of the “15th Five-Year Plan”, and jointly promote high-quality joint construction of the Belt and Road Initiative. Thank you!

Economic Daily reporter:

Last week, the National Bureau of Statistics released economic data for the first half of the year. What do you think of the consumer market's performance in the first half of the year? Thank you!

Yan Dong:

This question was answered by Director Yang Mu of the Consumer Promotion Department.

Yang Mu, Director of the Department of Market Operation and Consumption Promotion of the Ministry of Commerce:

Thank you for your question. I think you asked this question very well. Since the economic data for the first half of the year was released, it can be said that everyone paid great attention to consumer market data, so I would like to take this opportunity to share with you some of our opinions from three perspectives, taking into account the current trends and characteristics of the consumer market development.

First, judging from the overall structure, the consumer market has entered a stage of development where “good+service” is equally important. In recent years, with the continuous improvement of the living standards of Chinese residents, people's demand for consumption is no longer limited to commodities. Demand for services such as cultural tourism, education, and housekeeping is constantly increasing. Therefore, the consumer market has also moved from mainly commodity consumption to a stage of development where commodity consumption and service consumption are equal. Since last month, the National Bureau of Statistics has released the index “Total retail sales of goods and services for social consumption”. Compared with social zero, it can more comprehensively and accurately reflect the full picture of the consumer market. In the first half of the year, total retail sales of goods and services for social consumption increased 2.7% year on year. Among them, retail sales of services increased by 5.3%, which is 4.2 percentage points higher than retail sales of goods. Service consumption grew faster than commodity consumption, indicating that demand for service consumption is stronger. This is actually in line with China's current economic and social development. It is also a reflection of the optimization of the consumer consumption structure and rising demand.

Second, in terms of commodity consumption, the consumer market continues to expand and upgrade, and is fully resilient. Nearly 90% of Social Zero is a commodity. With a high base for the same period last year, the total amount of Social Zero increased by 1.3% year-on-year in the first half of the year, fully demonstrating the resilience of continued growth in commodity consumption. The slowdown in the total growth rate of Social Zero was mainly affected by the decline in the automobile and petroleum products. The total retail sales of units above the limit for these two types of products accounted for nearly 1/8 of the total retail sales of Social Zero, which can be said to have had a big impact on Social Zero's total growth rate.

But at the same time, we think we should see even more. Out of the 16 categories of Social Zero products, 10 categories of products have achieved growth, with 7 categories of products growing at a rate of more than 5%. Consumption of green, smart, and healthy products has maintained a strong growth trend. Judging from the business big data monitoring situation, in the first half of the year, sales of smart glasses, high-efficiency home appliances, sports cameras, ECG monitors, etc. all achieved double-digit growth. Therefore, we judge that the fundamentals of overall steady growth in product consumption have not changed, and showed a further steady and positive trend.

Third, looking at development prospects, the role of consumption as the primary driving force for economic development will continue to be consolidated. In the first half of the year, final consumption expenditure boosted GDP growth by 2.1 percentage points, and is still the first driving force. Service consumption is growing well. Although the current growth rate of commodity consumption is relatively slow, there is still plenty of room for growth and growth potential. Why do you say that? Because it takes a process from R&D and production to being recognized by consumers, everyone can recall that 20 or 30 years ago, products such as “Big Brother,” computers, and automobiles were “rare items” for many families, but now they have entered our ordinary people's homes. More than 10 years ago, when new energy vehicles first entered the market, everyone also felt that they had a short range and were not convenient to charge, but now they have also become the mainstream choice for families to buy cars. In recent months, the market penetration rate of new energy vehicles has continuously exceeded 60%, which is equivalent to more than 6 new energy vehicles for every 10 new cars sold. In the past two years, new products such as smart homes and intelligent robots have begun to enter the market. I believe that with the iterative upgrading of technology, supply and demand are better adapted, in the near future, they will also enter thousands of households like mobile phones, computers, and cars. While meeting people's needs for a better life, they will also bring new consumption increases. In addition to new products, China's county markets and consumer groups such as silver hair, young people, and children are huge. The trend of consumer demand upgrading is obvious, and they all have broad prospects for consumption growth.

Overall, we believe that as a series of policies to expand domestic demand and promote consumption continue to be implemented and effective, the supply of goods and services is continuously optimized, and new consumption growth points and new scenarios emerge at an accelerated pace, the advantages of China's hyperscale market will be further highlighted, the consumer market will continue to develop and expand, and its role as the “main engine” of economic growth will become stronger and stronger. Thank you!

CCTV reporter at the general station:

The Fourth Plenary Session of the 20th CPC Central Committee proposed guiding the rational and orderly cross-border layout of the industrial chain supply chain. What measures did the Ministry of Commerce take in the first half of this year to promote international cooperation in the production supply chain? Thank you!

Yan Dong:

Thank you to the CCTV reporter for the question. I will answer this question. The Ministry of Commerce has resolutely implemented the spirit of the Fourth Plenary Session of the 20th CPC Central Committee, and the integration of trade and investment has achieved positive results in promoting international cooperation in the industrial chain supply chain.

Since this year, foreign investment cooperation has developed in a healthier and more orderly manner, and the pace of enterprises “going global” is more rational and steady. From January to June of this year, foreign non-financial direct investment was 453.1 billion yuan, and the turnover of foreign-contracted projects was 606.3 billion yuan. Of these, investment in the joint construction of the “Belt and Road” countries and the completed turnover of foreign-contracted projects increased to 26.7% and 85.9%, respectively. Overseas economic and trade cooperation zones are developing rapidly. The cooperative zones included in the Ministry of Commerce's statistics have invested nearly 56 billion yuan, making positive contributions to the economic and social development of China and the host country and the stability of the global production supply chain. Focusing on guiding the rational and orderly cross-border layout of the industrial chain supply chain, we have mainly carried out the following areas of work:

The first is to effectively implement foreign investment management. To speed up foreign investment legislation, the State Council issued the “Regulations on Foreign Investment”. For the first time, the system for the supervision, service and protection of foreign investment was clarified in the form of State Council regulations, providing strong legal guarantees for the healthy and orderly development of foreign investment. Facilitating foreign investment continues to be promoted. As of the first half of this year, commercial authorities across the country have issued a total of 72,000 electronic certificates for foreign investment, and will speed up promotion and application.

The second is to improve the comprehensive overseas service system. Implement the “Guiding Opinions on Further Improving Overseas Integrated Service Systems” and accelerate the construction of “one Hong Kong, one stop, one platform”. In February of this year, a national-level integrated overseas service platform was launched, linking more than 1,000 websites, forming a “one-window” and “one-stop” overseas service platform. Guide local commercial authorities to build comprehensive overseas service ports according to local conditions, promote the establishment of overseas integrated service stations in key countries and regions, and build an overseas service ecosystem with central local linkage, regional collaboration, resource gathering, and internal and external integration.

The third is to promote the establishment of bilateral investment cooperation mechanisms. Deepen bilateral cooperation in green development, digital economy, green minerals, new infrastructure, new energy, etc., establish working mechanisms for production and supply chain cooperation with relevant countries, and sign production and supply chain cooperation documents in related fields to promote the establishment of equal, mutually beneficial, inclusive and constructive global industrial chain supply chain partnerships, and cultivate a win-win and shared global market.

Fourth, strengthen the prevention and control of overseas risks and the protection of interests. Implement the “State Council Regulations on Industrial Chain Supply Chain Safety”, issue and implement the “Industrial Chain Supply Chain Safety Investigation Work Measures”, and enhance production and supply chain security capabilities. Implement the two work guidelines for enterprise integrity compliance and social responsibility abroad, guide enterprises to operate in accordance with the law, and actively fulfill their social responsibilities. Promptly push safety information and warning tips to overseas Chinese enterprises and business associations to protect the safety rights and interests of Chinese enterprises.

In the next step, the Ministry of Commerce will thoroughly implement the decisions and arrangements of the Party Central Committee and the State Council, adhere to high-quality joint construction of the Belt and Road Initiative as the lead, continuously improve the management service system for foreign investment cooperation, and promote international cooperation in the production and supply chain through integrated trade and investment. Thank you!

South China Morning Post reporter:

In May of this year, after US President Trump's visit to China, China and the US announced that they would establish a trade council to discuss cooperation such as equal tax cuts, and also establish an investment council. Can the Ministry of Commerce introduce the latest developments in these two mechanisms? Thank you!

Yan Dong:

We ask Director Meng Huating of our Foreign Investment Department to answer this question.

Meng Huating:

Thank you for your question. During US President Trump's visit to China, the heads of state of China and the US determined a new position for a “constructive strategic and stable relationship between China and the US,” affirming that the economic and trade teams of the two sides have reached an overall balance and positive results. Among them, the two sides agreed to establish a trade council and an investment council.

Currently, the economic and trade teams of China and the US are maintaining close communication on specific arrangements such as the structure, functions, and operating model of the Trade Council, and are discussing the framework arrangements for promoting mutual tax cuts of 30 billion US dollars each. The Chinese side is seeking opinions from a wide range of stakeholders such as domestic enterprises, business associations, local governments, and American business associations on relevant tax reduction arrangements. The US side is also seeking public comments on trade councils and equal tax reduction arrangements. The two sides will maintain close exchanges, agree on specific product tax reduction arrangements and promote implementation as soon as possible, and further expand bilateral trade.

We believe that the two councils will provide a platform for the two countries to pragmatically discuss mutual concerns in the field of trade and investment, facilitate the two sides to exchange policies, expand cooperation, manage differences, push the economic and trade negotiations between China and the US from “crisis response” to “institutionalized management”, and maintain the stability of Sino-US economic and trade relations. Thank you!

Yangcheng Evening News reporter:

We learned that the “Share Big Market · Export to China” series of activities attracted many Chinese and foreign companies to participate, and built a platform for communication and matchmaking between “global sellers” and “Chinese buyers”. How effective were the relevant activities in the first half of the year? What are the next key arrangements worth looking forward to? Thank you!

Yan Dong:

This question was answered by Yang Tao, director of the Foreign Trade Department.

Yang Tao:

Thank you for your questions, and thank you very much for your interest in the “Share Big Market · Export to China” series of activities.

The “Export to China” series of activities is China's pragmatic move to expand imports and promote balanced import and export development from the perspective of a trading partner. The goal is to share the development opportunities of the Chinese market with all parties around the world, help countries broaden their export channels to China, enrich the supply of goods in the domestic market, and better meet the needs of the masses for a better life. In the first half of this year, we held nearly 40 events. The responses from all parties were very positive, and there were many highlights. Summarized in four words, “High, Real, Many, and Extensive.”

First, it's hierarchical. National leaders, senior government officials and diplomatic envoys from both China and foreign countries attended relevant events to promote accurate connections and efficient negotiations between foreign exporters and domestic procurement companies. Many domestic procurement companies have reported to us that through a series of high-level “export to China” activities, they have met new foreign suppliers and further broadened the import sources of high-quality products from abroad.

Second, the measures are actual. Overseas, we focused on key countries, invited the United Kingdom, Spain, Kazakhstan, Kenya, and Thailand as the theme countries for the 2026 “Export to China” campaign, and carried out targeted events. At home, promote local and financial institutions to launch corresponding support measures. For example, Hangzhou has introduced ten innovative measures to expand imports, and ICBC, Bank of China, and China Credit Insurance have launched exclusive financial service programs.

Third, there are many features. We comprehensively consider local location advantages and guide each region to carry out special activities, such as building a bridge between supply and demand, relying on national import trade promotion demonstration zones; superimposing investment roadshows linked to the Expo to jointly expand import growth and release import potential; and collaborating with the “Buy in China” series of activities to jointly create an international consumption scenario to promote high-quality overseas products to both “enter” and “sell well”. Recently, Ningbo launched a “Hi Buy Central and Eastern Europe” exclusive voucher worth 1 million yuan to citizens, which not only deepened economic and trade cooperation with Central and Eastern European countries, but also brought consumer benefits to citizens.

Fourth, widespread coverage. Many of the events received widespread attention at home and abroad, and sparked enthusiastic reactions in the business community. Some overseas business people said, “The Chinese market is large enough to accommodate all participants,” and some overseas netizens left comments that “the whole world can benefit from China's economic growth.” These all vividly demonstrate the vigorous power of open cooperation.

China's active expansion of imports is a strategic move that conforms to historical trends and is rooted in new development concepts. It is committed to mutual benefit, win-win situation and far-reaching progress with all countries. In the next step, we will continue to polish the “Export to China” brand, adhere to the “Policy+Activity” two-wheel drive, work with all parties to steadily advance various activities, respond positively to countries' demands and corporate suggestions, continuously optimize import promotion measures, and continue to release policy dividends to expand imports.

Finally, we sincerely welcome all parties to actively participate in the “Export to China” series of activities to share the vast opportunities of the Chinese hyperscale market. Thank you!

Jia Huili:

Time is a matter of time, the last two questions.

Xinhua Client Reporter:

We are concerned that since this year, the Ministry of Commerce has launched a series of policies and measures to expand consumption and benefit people's livelihood to unleash the potential of the consumer market. I would like to ask, what are the next steps to focus on consumer promotion efforts? Thank you!

Yan Dong:

This question is asked to be answered by Director Yang Mu of the Consumer Promotion Department.

Yang Mu:

Thank you to this reporter for the question. Since this year, the Ministry of Commerce has earnestly implemented the decisions and arrangements of the Party Central Committee and the State Council, adhering to the “policy+activity” two-wheel drive, thoroughly implementing special actions to boost consumption, building a “buy in China” brand, and focusing on stimulating consumer vitality. A series of policies and measures to promote consumption have continued to show results. The consumer goods trade-in policy has stabilized the basic market. The investment capital leverage ratio has increased from 1:7.8 last year to 1:10.3 now, driving sales exceeding 1.25 trillion yuan and benefiting 169 million people. It has strongly supported steady consumption growth, promoted industrial upgrading and development, and driven resource recycling. The prize invoice pilot has increased spending intentions. Currently, the 50 pilot cities have invested 9.05 billion yuan, more than 860 million people participated, 380 million people won the lottery, with a winning rate of 44.5%, and the invoice amount for participation in the event has exceeded 360 billion yuan. The Departure Tax Refund 2.0 policy has stimulated the vitality of inbound consumption, and there are already more than 15,000 departure tax refund stores. In the first half of the year, the number of overseas travelers applying for tax refunds increased about 4 times over the same period last year. Furthermore, policies such as nurturing and expanding the automotive aftermarket are also playing a positive role.

Last week, the State Council approved and issued the “Fifteenth Five-Year Plan to Expand Consumption”, which received widespread attention from all sectors. This is the first five-year plan for the consumer sector. It clarifies the goals, tasks and specific measures to expand consumption during the “15th Five-Year Plan” period. We will work with relevant departments to earnestly implement them. Vice Minister Yan Dong just introduced the situation related to service consumption. Next, I will introduce my work plans for commodity consumption and offline consumption:

On the one hand, promote the expansion and upgrading of commodity consumption. Commodity consumption is an important area to promote consumption and benefit people's livelihood. We will introduce relevant policies and measures to promote the expansion and structural upgrading of commodity consumption to better meet and meet the diverse and multi-level consumption needs of the masses. The focus will be on four categories of products: the first is to promote the consumption of durable commodities. The whole chain promotes automobile consumption, further promotes pilot reform of automobile distribution and consumption; promotes household consumption, and promotes package-style and customized services. The second is to steadily increase consumption of daily necessities. Promote the improvement of consumption quality of food and beverages, textiles, clothing, etc. The third is to support the consumption of specialty products. Focus on “one old, one young”, support the consumption of silver hair and baby products, and promote the consumption of domestic “trendy products”, foreign trade products, and international quality products. Fourth, cultivate and expand consumption of upgraded products. Meet the demand for consumption upgrades and promote consumption of green, smart, and healthy products.

On the other hand, take more measures to promote offline consumption. Active offline consumption is currently a key gripper for unblocking the supply and demand cycle and activating market popularity. We will focus on three areas of work: the first is to focus on the offline experience of new products. Support eligible regions to set up offline sales locations that integrate display experiences around emerging products such as smart homes and intelligent robots, so that cutting-edge technology can be felt more accessible. The second is to focus on creating offline scenes. Organize new consumption formats, new models, and new scenarios to cultivate consumption scenarios integrating business, tourism, culture, sports and health; give full play to the leading and driving role of international consumer center cities, deepen pilot projects to build an international consumer environment, and create consumption scenarios with Chinese characteristics and cultural appeal. The third is to focus on physical commercial development. Promote the high-quality development of the retail industry and launch a number of integrated and innovative business format models. Support the expansion and upgrading of convenient living areas within a quarter of an hour, and promote offline consumption at residents' doorsteps.

I'll just introduce these, thank you!

Jia Huili:

One last question, please.

Dazhong News Dazhong Daily Reporter:

In May of this year, China fully implemented zero-tariff measures with 53 countries that have established diplomatic relations with Africa. What are the results so far? What new opportunities will it bring to China-Africa economic and trade cooperation? Thank you!

Yan Dong:

I ask Director Li Li of the General Affairs Department to answer this question.

Lee Lee:

Thank you for your question, I'll answer that. Currently, unilateralism and protectionism are on the rise. Against this backdrop, the risks and challenges facing African countries are also intensifying. Since May 1, 2026, China has fully implemented zero-tariff measures with 53 countries that have established diplomatic relations with Africa. At the same time, it is also continuing to promote the signing of economic partnership agreements for joint development. This is an innovative initiative by China to unswervingly expand a high level of opening-up to the outside world. It is also a “timely rain” to support African countries to accelerate development, and will inject strong impetus into Africa's development and China-Africa economic and trade cooperation.

The first is to significantly reduce costs and provide a “fast track” for African products to be exported to China. According to customs data, from May to June this year, China's imports from Africa reached 193.8 billion yuan, an increase of 23.5% over the previous year. Among them, imports of aquatic products and textile raw materials from Africa all achieved double-digit year-on-year growth; imports of specialty fruits such as avocados, apples, oranges, and grapefruits increased 1.3 times, 89.6%, 27.9%, and 11.9%, respectively. With the implementation of more supporting measures such as “Green Channel 2.0,” we believe the zero tariff policy dividends will surely help more African products enter the Chinese mega-market.

The second is to drive investment in Africa and provide an “accelerator” for promoting Africa's industrialization. To a certain extent, the zero-tariff initiative will push investors from various countries, including Chinese enterprises, to increase investment in Africa, improve African hardware conditions in terms of capital, technology, equipment, etc., create an integrated trade and investment linkage mechanism, promote the upgrading of Africa's industrial chain, and better promote the integration of African countries into the global industrial chain.

The third is to deepen institutional cooperation to provide a “ballast stone” for building an all-weather common destiny between China and Africa in the new era. China and African countries continue to promote the signing of economic partnership agreements for joint development. Currently, 38 African countries have signed framework agreements with China, and some countries have completed negotiations on early harvest arrangements for the agreement. The zero tariff implemented on May 1 is an institutional innovation in the process of signing the agreement. While Africa enjoyed the benefits early and early benefits, it also ensures that the relevant arrangements are consistent with WTO rules.

2026 marks the 70th anniversary of the opening of diplomatic relations between China and Africa. The Ministry of Commerce, together with relevant departments, will continue to take more measures to make the zero-tariff initiative work better in accordance with the principles of equal consultation, mutual benefit and win-win situation, promote the signing of economic partnership agreements with countries that have established diplomatic relations with Africa, deepen economic and trade institutional cooperation between China and Africa, share opportunities with Africa, and achieve common development. Thank you!

Jia Huili:

That's all for today's press conference. Thank you to all the publishers and friends for participating. Bye everyone.

This article was edited by China.com, Zhitong Finance Editor: Chen Wenfang.