China's annual "two sessions" are being held in Beijing from March 4 to March 11. The 2025 government work report, delivered by Premier Li Qiang on March 5, targets an economic growth rate of around 5 percent in 2025 and states that China will encourage foreign investors to increase their reinvestment in China and support them in collaborating with upstream and downstream enterprises in industrial chains.
China's economic growth target of around 5% for this year is "reasonable and achievable," according to Harley Seyedin, Chairman and President of the American Chamber of Commerce in South China. Speaking on the sidelines of China's ongoing "two sessions" in Beijing, Seyedin expressed confidence that China's economic policies, particularly those outlined in the latest government work report, would provide strong support for domestic and foreign businesses.
Consumption upgrade fuels "exponential" opportunities
Seyedin highlighted China's focus on "streamlining the investment process" and creating "the best environment for foreign investment," as this year's government work report outlined. "All of that will contribute to economic growth and promote reinvestment," he said.
With China's economy ascending the value chain, Seyedin stressed that multinationals are repositioning to capture demand for premium offerings. "A consumer-based economy is growing and will continue to grow exponentially," he said, attributing this to China's advanced manufacturing ecosystem and talent pool enabling "value-added products and services."
"The government has a very good plan to achieve 5% growth" by addressing gaps in high-value services, Seyedin emphasized. He pointed to China's "highly sophisticated computerized services, AI R&D, and medical services" as areas where foreign firms "can invest and benefit."
Optimistic about China's growth amid China-US dispute
What impressed Seyedin most in the work report is that China wants to open up more for foreign investment. Seyedin has noticed that the government is working to streamline investment processes for foreign enterprises. "They want to make sure China offers the best environment for foreign investment," Seyedin said. "These measures will contribute to economic growth and promote reinvestment."
AmCham South China's 2025 Special Report on the State of Business in South China released last month, citing input from 316 member companies, validates this optimism: 76% have budgeted to expand China operations in the year to "capture additional markets and keep up with demand." While acknowledging lingering challenges, Seyedin noted firms are "looking forward to a much better year in 2025."
On bilateral relations, Seyedin struck a cautiously upbeat tone, stating that U.S. President Donald Trump has "made very clear" areas needing cooperation, enabling both sides to "resolve any differences." He advised members to "look forward to the future" as the world's two largest economies "find a way to work together."
The chamber chief concluded with a nod to policy tailwinds: "The future will be bright for all of us" as reforms unlock service-sector potential. With foreign capital eyeing China's next-phase modernization, Seyedin's outlook suggests multinationals are betting on premiumization — not retreat — in the world's second-largest economy.
Reporter/Script: Hu Nan
Video: Qin Shaolong
Poster: Cai Junru
Editors: Ouyang Yan, James, Shen He
