The Great Hall of the People in Beijing, capital of China. [Photo/Xinhua]

China's recently announced policies and development direction, including those from the two sessions, signal a new phase of high-standard opening-up marked by "mutual empowerment", according to both domestic and multinational companies.

They said on Tuesday that "mutual empowerment" is a two-way process in which foreign companies benefit from China's vast market and innovation strength, while Chinese exporters and technology firms gain from globalization and international cooperation. This fosters competition, collaboration and shared benefits in a dynamic market.

These developments are being supported by concrete policy measures.

According to this year's Government Work Report, China will ensure national treatment for foreign-funded enterprises in fields such as access to production factors, license applications, standards setting and government procurement.

China will bolster policies for stabilizing foreign trade and support enterprises in securing orders and exploring new markets, as well as cultivate new growth drivers, such as green trade and digital trade, said the report.

"These policies will create a more favorable environment for foreign investment and business operations in China," said Dereck Ji, managing partner for China at Belgium-based ADL Consulting.

For example, effectively ensuring the national treatment of foreign-funded enterprises in terms of factor acquisition will help attract more foreign capital into the Chinese market and promote the effective integration and optimal allocation of domestic and international resources, Ji said.

Chinese companies are at the forefront of cross-industry data collaboration, large-scale AI implementation and optimizing agile innovation processes, creating favorable conditions for their own growth and attracting global capital, he noted.

Denis Depoux, global managing director at German consultancy Roland Berger, expressed a similar view.

With the announcement of several policy measures, China's reaffirmed commitment to expanding high-standard opening-up demonstrates consistency and provides assurance. This is critical in shaping foreign investment sentiment for future decision-making and planning, Depoux said.

At the same time, the globalization of Chinese companies has become an important trend, he said.

"Chinese companies are globalizing and seeking new international markets, in both developed and emerging markets," he said, urging the government to further support domestic businesses in expanding globally by deepening multilateral, bilateral and regional economic cooperation.

Suzhou Huaxing Optoelectronics Technology Co Ltd, an LCD (liquid crystal display) panel and component manufacturer based in Suzhou, Jiangsu province, has been expanding its presence in emerging markets to mitigate the effect of geopolitical complexities. Its products have reached 15 countries participating in the Belt and Road Initiative.

According to data from Suzhou Industrial Park Customs, a local branch of Nanjing Customs, the Chinese company's exports of electromechanical products totaled 568 million yuan ($78.39 million) in the first two months of 2025, marking a 33 percent year-on-year increase.

Lu Yu, Suzhou Huaxing's Customs affairs manager, noted that the company's LCD exports to India and Vietnam have surged significantly since the beginning of this year.

Wahl Clipper Ningbo Ltd, an overseas subsidiary of the United States-based Wahl Clipper Corp and a household appliances manufacturer in Ningbo, Zhejiang province, saw its exports, including electric scissors and hair dryers, jump 24 percent on a yearly basis to 810 million yuan in 2024, data from Ningbo Customs showed.

China's vast consumer base provides global companies with a broad market space, while its accelerated digital transformation offers new opportunities for them to develop greener and more advanced products, said Huang Kai, head of the US company's supply chain management unit.