After years of efforts by the World Trade Organization, the Investment Facilitation for Development Agreement was officially announced in February 2024. This is a major breakthrough for the World Trade Organization in the field of multilateral investment negotiations. The agreement is of great significance in promoting cross-border capital flows, promoting sustainable development of the global economy, improving global governance, and alleviating the“North South imbalance”. In the future, with the gradual improvement and implementation of the Investment Facilitation for Development Agreement, more economies will benefit from the dividends brought by the agreement. However, the construction and implementation process of the agreement also faces various challenges, such as huge implementation costs and the rise of international investment protectionism. As a major initiator of the agreement, China should strengthen the institutional and functional construction of investment facilitation, actively fulfill international commitments, and make important contributions to achieving sustainable development of the global economy.