(Source: "China Financial News" 2025-11-22)
The "Recommendations of the Central Committee of the Communist Party of China on Formulating the Fifteenth Five-Year Plan for National Economic and Social Development" (hereinafter referred to as the "Recommendations") states that adhering to open cooperation, mutual benefit and win-win is an inevitable requirement for Chinese-style modernization. Steadily expand institutional opening up, maintain the multilateral trading system, expand international circulation, promote reform and development through opening up, and share opportunities and common development with other countries in the world.
Faced with the profound changes in the global landscape, my country is gaining momentum for a new round of high-level opening up. What is the difference between steadily expanding institutional opening-up and previous opening-up? How will China's new round of opening-up policy "combination boxing" be upgraded? What new impetus will be injected into world economic recovery and sustainable development? Reporters conducted interviews around the above issues. Institutional openness enters a new stage
Since the Central Economic Work Conference proposed “system-based opening” at the end of 2018, this concept has been repeatedly mentioned in many high-level meetings. Experts interviewed generally believe that the "Recommendations" once again emphasize "steadily expanding institutional opening-up", which not only reflects the continuity of the policy, but also gives it a new era connotation and higher goal requirements.
Lv Yue, Professor at the National Institute of Opening up and Executive Director of the Institute of Global Innovation and GovernanceIn an interview with this reporter, he said that currently, the traditional globalization model guided by division of labor efficiency is facing the impact of anti-globalization. Through high-standard agreements such as the CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) and the USMCA (United States-Mexico-Canada Agreement), developed economies such as the United States and Europe are intensifying their competition for dominance in frontier fields such as the digital economy and green and low-carbon. China faces the risk of being excluded from the new rules system. In this context, China must achieve the transformation from participating in rules to leading the formulation of rules through institutional opening.
Gao Lingyun, a researcher at the Institute of World Economics and Politics, Chinese Academy of Social Sciences, believes that traditional opening up is more about passive acceptance of rules under pressure such as joining the WTO, relying on factor dividends such as cheap labor and land, while institutional opening up actively sets high standards and releases new institutional dividends by creating a legal, international, and convenient business environment, attracting the accumulation of global high-end factor resources, and thereby enhancing China's participation and even leadership in the reconstruction of international economic and w88 rules.
In recent years, China’s foundation for promoting institutional opening has been continuously consolidated. During the "14th Five-Year Plan" period, my country's foreign w88 volume continued to expand, and the scale of goods w88 continuously crossed the two major levels of 5 trillion and 6 trillion US dollars, reaching 6.16 trillion US dollars in 2024, an increase of 32.4% from the end of the "13th Five-Year Plan", ranking first in the world for 8 consecutive years.
“China is entering the 15th Five-Year Plan period from the 14th Five-Year Plan. Emphasizing institutional openness marks a qualitative change and upgrade of China’s opening-up strategy. It is a strategic choice based on profound changes in the domestic and international environment.”Lv Yuefurther stated that the core feature of the current institutional openness is the docking and integration of rules, regulations, management, standards and other institutional levels. The main focus is on the hidden barriers after elements enter a country's territory, and whether the economic operation rules faced by market entities are compatible with international mainstream rules.
Gao Lingyun believes that the core of institutional openness is to systematically reshape domestic economic governance rules, which requires domestic laws, regulations, management and standards to actively align with internationally recognized high standards, especially in new fields such as service w88, digital w88, intellectual property protection, and government procurement. At the same time, a high degree of transparency in policy formulation and implementation must be ensured, and laws and regulations must be publicly released to provide a stable, predictable, and non-discriminatory business environment for all market entities.
Practice a high-level "combination punch" for opening up to the outside world
Regarding the opening-up work during the "15th Five-Year Plan" period, the "Recommendations" make important arrangements in four aspects: actively expanding independent opening-up, promoting innovative w88 development, expanding two-way investment and cooperation space, and jointly building high-quality "One Belt, One Road". Experts interviewed suggested that China's new round of opening up is not a single breakthrough, but a multi-dimensional "combination punch".
“Steady expansion of institutional opening requires the promotion of three key measures.”Lv YueSuggestions: First, deepen the integration of international rules and mutual recognition of standards. Actively connect with high-standard economic and w88 agreements such as CPTPP and DEPA (Digital Economic Partnership Agreement), carry out institutional innovation in key areas such as digital economy and intellectual property, and promote the connection between domestic rules and international high-standard economic and w88 rules. The second is to actively participate in the reform of the global economic and w88 governance system. Propose constructive plans in WTO reform and actively promote Chinese standards in emerging fields such as artificial intelligence and green development to enhance my country's institutional voice in global economic governance. The third is to build a global high-standard free w88 zone network. Promote free w88 agreement upgrade negotiations with major economic and w88 partners, deepen institutional cooperation such as customs clearance facilitation and regulatory coordination, and build a high-standard free w88 network covering major markets and running through industrial and supply chains.
“These measures will jointly promote China’s deepening of openness from the flow of commodity factors to institutional openness, win the initiative in participating in the formulation of international rules, and provide institutional guarantees for building a new development pattern.”Lv YueRepresents.
Gao Lingyun suggested promoting institutional openness from five aspects, including actively joining high-standard economic and w88 agreements such as CPTPP and DEPA; proactively reforming rules in key areas such as market access, intellectual property rights, and government procurement; building a high-level open platform; actively participating in global economic governance; improving domestic legal and regulatory systems, and creating a first-class business environment.
Wang Qing, chief macro analyst of Oriental Jincheng, suggested that on the one hand, we should rely on my country's large market advantages to expand commodity imports, cultivate the domestic consumer market, and drive the transformation and upgrading of the domestic manufacturing industry; on the other hand, we should increase the opening of the service industry, comprehensively enhance the competitiveness of the service industry, and create a "Chinese service" brand.
Stability is the top priority and overall promotion of openness and security
At present, the anti-globalization trend continues, and the uncertainty faced by world economic growth has increased significantly. "China is indeed facing multiple challenges in promoting institutional opening. Some countries are pursuing 'decoupling and breaking links' or 'risk-removing' strategies in an attempt to reduce their dependence on China. At the same time, there are still difficulties and blockages in domestic economic operations such as local protectionism and low factor allocation efficiency." Gao Lingyun said that in this context, my country's promotion of institutional opening is essentially insisting on promoting reform and development through opening up, and taking proactive actions to hedge external pressures, force internal reforms, and seize development opportunities. It is a strategic layout with far-reaching significance.
The "Recommendations" regarding the deployment of "steadily expanding institutional opening-up", the word "steady" is particularly critical.Lv Yuetold reporters that the "Recommendations" emphasize "steadiness", and the core is to achieve a dynamic balance between openness and security, reform and stability through a systematic risk governance system. To achieve this goal, three aspects of work must be done: First, implement precise open management. Clarify the boundaries of opening up through negative lists and regulatory catalogs, and establish hierarchical and classified regulatory mechanisms in key areas such as data and finance to form an economic order that is both "flexible" and "well managed." Second, establish a risk monitoring and early warning system that is compatible with institutional opening. Use artificial intelligence and big data technology to conduct dynamic monitoring and risk analysis of industrial and supply chains, develop supply chain financial hedging tools, and form a closed-loop management covering risk monitoring, early warning, and disposal. Third, improve the risk response capabilities of market entities. Enhance corporate risk prevention and control capabilities through professional training and compliance guidance, establish a collaborative governance mechanism among the government, industry, and enterprises, and promote the transformation of risk response from passive disposal to proactive prevention and control.
Gao Lingyun said that "steadiness" is reflected in balancing the two pairs of relationships "openness and security" and "reform and stability": the former is opening up with security as the bottom line, seeking advantages and avoiding disadvantages in a complex international environment; the latter is reform with stability as the overall situation, and achieving higher quality dynamic stability through steady advancement.
The interviewed experts believe that if the above-mentioned measures are solidly promoted during the "15th Five-Year Plan" period and achieve the expected results, by 2030, China and the world economy will usher in a new pattern of deep integration, mutual benefit and win-win results.
Looking ahead to this new vision of the future,Lv Yuebelieves that there are three main salient features: China and the global economic and w88 system will achieve deep institutional integration, and form a new paradigm of institutional openness through the successful integration of high-standard economic and w88 rules; the global industrial division of labor pattern will undergo structural reshaping, and major economies such as China and the United States and Europe will China will build new competitive and cooperative relationships in manufacturing, digital economy, green technology and other fields to promote the development of global industrial and supply chains in a more balanced and resilient direction; China will become an important constructive force in the global governance system and continue to inject new momentum into improving the global economic governance system by actively participating in the formulation of international rules.
“By 2030, China’s economic and w88 relations with the world will be based on deeper industrial collaboration, more balanced w88 exchanges, and more reciprocal rules-based interactions. China will become the main source of global demand, an important source of technological innovation, and an important participant in global governance.” Gao Lingyun emphasized, “This means new and major opportunities for China and the world.”
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