Interview: Growing Chinese market creates opportunities for global investors, says Turkish economist

As a key driver of global growth, China's emphasis on domestic consumption offers great opportunities for international companies seeking entry into the Chinese market, a Turkish economist said.

ISTANBUL, June 17 (Xinhua) -- As a key driver of global growth, China's emphasis on domestic consumption offers great opportunities for international companies seeking entry into the Chinese market, a Turkish economist has said.

In a recent interview with Xinhua, Gulsum Akbulut, CEO of Ankara Global Advisory Group, said China's economy grew 5 percent in 2024, showing continued resilience amid global uncertainties.

"The growing middle class, rising urbanization and the growth of the digital economy are driving demand for goods and services," Akbulut said, stressing that this creates great opportunities for fast-growing domestic companies such as BYD and Huawei, and international companies seeking to enter the Chinese market.

"Key sectors such as electric vehicles, telecoms and e-commerce continue to grow rapidly, underlining the depth and attractiveness of the Chinese consumer base," she said.

At present, China is tapping into this potential, and initial results have already begun to emerge, she added.

China's economy, expected to expand by about 5 percent in 2025, has grown 5.4 percent year-on-year in the first quarter alone, making it one of the fastest-growing major economies.

"This emphasizes China's continued role as a key driver of global growth," the economist said.

Akbulut suggested that to achieve China's growth target of 5 percent or more, China will need stronger fiscal stimulus, as well as further long-term reforms to stimulate domestic demand.

Noting China is a major trading partner for most countries, she said that "many countries are endeavoring to strengthen trade relations with China in order to gain access to its huge consumer market."

In terms of cooperation with Türkiye, Akbulut said Chinese investment in Türkiye is on the rise, with major projects in the automotive, energy, infrastructure, logistics, transport, e-commerce and finance sectors.

She also noted that there is significant potential to boost Türkiye's exports to China, particularly in sectors where Türkiye holds a comparative advantage.

These developments point to strengthening economic ties, particularly in the high-tech, environmental and consumer-oriented sectors, she added. ■