'China Opportunity 2.0' knocks for global economy

China's economic resilience and strong innovation momentum, combined with its unwavering commitment to high-standard opening-up, are ushering in "China Opportunity 2.0" for businesses worldwide, officials, experts and executives said, adding the country's development has brought the world vast opportunities and considerable room for growth.

In a world facing rising protectionism and geopolitical tensions, they said, deeper innovation cooperation is emerging as a key pathway to reviving global growth, while China Opportunity 2.0 is bolstering investor confidence through stronger innovation empowerment and high-return investment prospects.

For the global economy, China Opportunity 2.0 is broadening access to advanced technologies and enabling the benefits of innovation to be shared more widely across countries and economies, they added.

China Opportunity 1.0 was largely associated with China's emergence as a fast-growing market and the "world's factory", said Liu Tiezhi, a researcher at the Development Research Center of the State Council.

The 2.0 version, he said, is taking shape in a more mature and rules-based market, where China's vast domestic demand is creating new opportunities on the demand side and its highly efficient industrial system is opening up fresh possibilities on the supply side.

"China Opportunity 2.0 is also about fostering a two-way flow of resources and factors through higher-standard opening-up," Liu said, adding that deeper development cooperation could equip countries with more resources and capabilities to narrow development gaps.