China partners with global stakeholders to unlock new development opportunities

China has partnered with international stakeholders to advance new development opportunities through its growing "three new" economy, comprising new industries, new business formats, and new business models, which reached a value-added output of 25.79 trillion yuan ($3.82 trillion) in 2025, according to recent data from the National Bureau of Statistics. This represents a 6.2 percent increase compared to the previous year and accounts for 18.39 percent of China's total GDP. The growth rate surpassed the current-price GDP growth rate by 2.2 percentage points, signaling a shift in economic focus towards innovation and quality over quantity. The rise of the "three new" economy highlights China's broader strategy of transitioning to a model driven by innovation rather than traditional factors of production. This evolution has been recognized globally, with institutions such as the World Bank and the International Monetary Fund identifying technological innovation, digital transformation, and green development as pivotal forces for future economic growth. These trends reflect a move away from assessing China's economic performance based solely on size and speed to evaluating its capacity for innovation, industrial complexity, and environmental sustainability. Recent developments underscore China's increasing influence in global innovation. According to the Global Innovation Index 2025 published by the World Intellectual Property Organization, China has climbed into the world's top 10 in terms of innovation. Additionally, the Shenzhen-Hong Kong-Guangzhou innovation cluster has emerged as the leading region in the world for innovation. These achievements are attributed to the continuous growth of the "three new" economy, which illustrates China's progress in moving from a factor-driven growth model to one centered around innovation. In particular, China's advancements in the new energy sector exemplify this shift. Its expertise in producing photovoltaic modules, power batteries, and new energy vehicles benefits from a well-coordinated development across the entire industrial chain. This coordination has led to the creation of mature and reliable solutions for other nations aiming to transition their energy systems. Furthermore, the integration of digital technologies within the real economy, from industrial internet applications in manufacturing to flexible customization in production and sales, has offered practical ways to enhance the quality and efficiency of conventional industries. International observers have acknowledged these changes. The Wall Street Journal highlighted how China's strengths in the new energy and digital economy sectors, supported by integrated development throughout the industrial chain, are altering global supply patterns in relevant industries. Similarly, the Financial Times pointed out that China's innovation is not merely a series of individual technological breakthroughs, but a systematic capability rooted in a complete industrial ecosystem and a massive domestic market, providing a benchmark for emerging economies looking to upgrade their own structures. China's substantial market, extensive industrial support system, and effective ability to apply and iterate upon innovations have made it an essential hub for global innovation resources. Breakthroughs in areas such as artificial intelligence and green energy depend heavily on cross-border exchanges and collaboration. Unlike some countries that have imposed technological barriers, sought to decouple supply chains, or created fragmented networks, China has prioritized openness, cooperation, and mutual benefit. It continues to establish wide-ranging platforms to facilitate the global movement of innovation resources. Several foreign companies have responded to this environment by expanding their operations in China. For instance, British drugmaker AstraZeneca has set up a global strategic R&D center in Beijing, integrating China into its global new drug development network. Roche Diagnostics, another multinational pharmaceutical company, has increased its presence in Suzhou, Jiangsu Province, enhancing its integration of advanced manufacturing and innovation. Cosmetics giant L'Oreal has elevated its China R&D center to a global level, using insights from the Chinese market to guide product innovation worldwide.