Also speaking at Thursday’s press conference was Minister of Commerce Wang Wentao, who made mentions of Chinese titles that had brought Chinese tech and film companies “onto the international stage”.
“DeepSeek gained attention for its low-cost, high-performance open-source model, which has lowered the global barrier to technology adoption,” Wang said.
“Additionally, games like Black Myth: Wukong and Ne Zha have played a role in expanding the reach of China’s gaming and film industries in international markets.”
China’s trade in services reached a record 7.5 trillion yuan in 2024, and will be an important growth engine in 2025.
BOOSTING DOMESTIC CONSUMPTION
Referring to the tariff war with the US, Wang said that threats would not work on Beijing, asserting that “China won’t be cowed”.
China’s policymakers are doubling down on boosting domestic demand to drive growth, amid a potential drop in tariff-sensitive exports.
Total retail sales of consumer goods amounted to 48.3 trillion yuan last year, increasing by 3.5 per cent, Wang shared during Thursday’s economic briefing.
