China remained one of the world’s most closed major economies and the 17th most restrictive country out of 104 surveyed by the OECD in 2024 (the latest year for which data are available) despite decades of rhetorical commitments by the Chinese government to open its economy to foreign investment. China’s 15th Five-Year Plan for 2026-2030 marked the end of the “Reform and Opening” period begun under Deng Xiaoping and a transition to General Secretary Xi Jinping’s ambitious, ideologically-driven “Chinese Modernization” policy.
Chinese modernization brings an intensification of China’s focus on indigenization and technology self-reliance, and “autonomous opening-up,” which CCP media describe as China’s selective alignment with international standards and practices only where there are clear benefits for China’s economy and industry.
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