Continue to promote a higher level of opening up

(Source: Economic Daily Theory Edition 2020-02-28)

Liang Kaiyin Li Nan

In today's world, global value chains and supply chains are developing in depth. We are among you, and you are among us. All countries can reap dividends from developing an open economy. Therefore, we should persist in seeking development through openness, deepen exchanges and cooperation, resolutely oppose protectionism and unilateralism, continuously reduce w88 barriers, promote better global value chains and supply chains, jointly cultivate market demand, and promote economic globalization in a more open, inclusive, universally beneficial, balanced, and win-win direction.

The Fourth Plenary Session of the 19th Central Committee of the Communist Party of China reviewed and approved the "Decision of the Central Committee of the Communist Party of China on Several Major Issues Concerning Upholding and Improving the Socialist System with Chinese Characteristics and Promoting the Modernization of the National Governance System and Governance Capabilities" and made a series of important arrangements for building a new higher-level open economic system. The Central Economic Work Conference regarded deepening the reform of the economic system as one of the key tasks to be carried out in 2020, and proposed that "opening up to the outside world must continue to move in a larger scope, wider areas, and deeper directions", further demonstrating China's determination to open its door wider and wider.

Although the COVID-19 epidemic has had a significant impact on economic operations, our country's economy has huge resilience and potential, and the long-term positive trend will not change. General Secretary Xi Jinping pointed out: "It is necessary to coordinate various tasks of promoting economic and social development, and while going all out to prevent and control the epidemic, coordinate the work of 'six stability'." To coordinate epidemic prevention and control and economic and social development, we must actively expand domestic demand, stabilize external demand, and deepen opening up and international cooperation. By ensuring the smooth operation of the foreign w88 industrial chain and supply chain, making full use of compliant foreign w88 policy tools, simplifying customs clearance procedures, launching more foreign exchange facilitation businesses, ensuring the implementation of major foreign investment projects, and continuing to optimize the business environment, we will stabilize the fundamentals of foreign w88 and foreign investment. We must persist in promoting reform, development and innovation through opening up, and continue to promote a higher level of opening up to the outside world.

Grasp the new environment and new characteristics of opening up

To continue to promote a higher level of opening up to the outside world, we must first have a clear and profound understanding of the new environment and new characteristics that our country's opening up to the outside world faces.

From the perspective of the international environment, with the accelerated pace and deepening of economic globalization, the flow and integration of knowledge, technology, talents, capital and other elements are accelerating. New global value chains, supply chains, and industrial chains are continuously formed and deepened, and the economic dependence of various countries continues to increase. The general trend of globalization is irreversible. It is a reflection of objective economic laws and is independent of human will. At the same time, global governance is facing new challenges due to the prevalence of global w88 protectionism, unilateralism, w88 frictions, economic turmoil and other factors. In such a general environment, my country's opening up to the outside world will inevitably face new development opportunities and challenges.

In terms of economic size, my country has a population of 1.4 billion and the largest middle-income group in the world. It is the world's second largest economy, the largest manufacturing country, and the largest country in goods w88. It ranks among the top in the world in terms of its utilization of foreign capital and the scale of overseas investment. In 2019, my country's utilization of foreign capital increased steadily. The actual utilization of foreign capital throughout the year was 941.5 billion yuan, an increase of 5.8%. More than 40,000 new foreign-funded enterprises were established, maintaining its status as the second largest inflow of foreign capital. These data not only illustrate the large size of our economy, but also illustrate the heavy weight of our economy in the world economy. As the main stabilizer and source of power for world economic growth, my country must demonstrate its responsibility as a major country in opening up.

From the perspective of development concepts, the Party Central Committee with Comrade Xi Jinping as the core has proposed new development concepts of innovation, coordination, green, openness and sharing. Open development focuses on solving the problem of internal and external linkage of development. It is necessary to develop a higher level of open economy to promote reform and development by expanding opening up. The joint construction of the "Belt and Road" initiative has become my country's plan to participate in global open cooperation, improve the global economic governance system, promote global common development and prosperity, and promote the construction of a community with a shared future for mankind. Especially in the current situation where economic globalization is encountering some headwinds, our country has unswervingly pursued a mutually beneficial and win-win opening strategy, been an advocate, supporter, and promoter of economic globalization, and constantly provided new thinking and new momentum for global governance.

From the perspective of development prospects, under the current complex and changeable international and domestic situation, the fundamentals of healthy and stable economic development in my country have not changed, the conditions of production factors supporting high-quality development have not changed, and the overall momentum of long-term stability and improvement has not changed. Since the founding of New China 70 years ago, our Party has led the people to create a miracle of rapid economic development and long-term social stability that is rare in the world. By deepening supply-side structural reforms and implementing an innovation-driven development strategy, the prospects for my country's economic development will certainly and inevitably become brighter, and will certainly provide more market opportunities, investment opportunities, and growth opportunities for all countries.

Provide institutional guarantee for high-level opening up

In the face of profound changes in the international and domestic situation, we should conduct in-depth reflections on current key issues and related measures for opening up, such as optimizing the business environment, improving the system of foreign economic and w88 laws and rules, and maintaining bilateral and multilateral cooperation mechanisms. We will make greater efforts to strengthen the management and public service functions and promote the development of the global governance system in a more fair and reasonable direction. We will continue to address the outstanding contradictions that restrict economic development, accelerate the pace of reform in key links and important areas, and modernize the national governance system and governance capabilities to provide institutional guarantees for high-level opening up and high-quality development, and continue to promote higher levels of opening up to the outside world.

First, take the initiative to open the market to the world, stimulate import potential, and implement a w88 policy that pays more attention to imports. As residents' incomes increase and their spending power increases, my country's consumption upgrade trend is obvious, and new growth points in mid- to high-end consumption continue to emerge, providing space for expanding imports. To actively expand imports, we need to further reduce import tariffs and institutional costs, optimize the import structure, cultivate a number of import w88 promotion innovation demonstration zones, accelerate the development of new business formats and models such as cross-border e-commerce, and expand imports of high-quality products and services from various countries.

Second, optimize the market environment, relax market access for foreign investment, improve the legal system necessary for a market-oriented, legalized, and international business environment, and promote the transformation of government functions. A good business environment is an important manifestation of a country's economic soft power and an important aspect of comprehensive competitiveness. my country will continue to improve the market-oriented, legalized, and internationalized business environment, relax market access for foreign investment, continue to reduce the negative list, protect the legitimate rights and interests of foreign investors, establish market economy operating mechanisms and systems in line with international practices, steadily expand the opening up of the financial industry, and promote the opening up of the manufacturing, service industries, and agriculture. my country has promulgated and implemented the "Regulations on Optimizing the Business Environment" to actively promote foreign investment, treat domestic-funded enterprises, foreign-invested enterprises and other types of market entities equally, increase the protection of intellectual property rights, profoundly transform government functions, innovate systems and mechanisms, strengthen coordination and linkage, improve legal protection, benchmark international advanced levels, and create a stable, fair, transparent, and predictable good environment for all types of market entities to invest and operate.

Third, accelerate the construction of free w88 pilot zones and free w88 ports to create a new highland for opening up with a higher level of openness, a better business environment, and a stronger radiation effect. At present, my country has approved the establishment of 18 free w88 pilot zones. It is necessary to take institutional innovation as the core, promote the pilot free w88 zone, carry out pioneering and differentiated reform exploration, accelerate the formation of a legalized, internationalized and facilitated business environment and a fair, open, unified and efficient market environment, create a pioneer area for innovative development and a model area for business environment; study and propose Hainan's step-by-step , build a free w88 port policy and institutional system in stages, accelerate the process of exploring the construction of a free w88 port with Chinese characteristics; focus on the construction of the "Belt and Road", deepen the areas of cooperation between my country and neighboring countries or countries along the route, and promote the formation of an open pattern of linkage between land and sea and mutual assistance between the east and the west in the expansion of internal and external space.

Fourth, continue to deepen bilateral cooperation, improve multilateral cooperation mechanisms, promote high-quality development of the Belt and Road Initiative, and actively participate in the reform and construction of the global governance system. China has signed free w88 agreements with many countries and regions, and actively participates in cooperation with the United Nations, the Group of 20, APEC, BRICS and other mechanisms. It adheres to the principle of extensive consultation, joint contribution and shared benefits, promotes high-quality development of the Belt and Road Initiative, and provides an international platform for open cooperation for the world. It supports necessary reforms to the World w88 Organization so that the World w88 Organization can play a greater role in expanding openness and promoting development.

Fifth, give full play to institutional advantages, adhere to the unity of independence and openness to the outside world, and safeguard national sovereignty, security, and development interests. The many significant advantages of our country's national system and national governance system are the basic basis for us to strengthen our confidence in the path, theory, system and culture of socialism with Chinese characteristics. One of its significant advantages is that it adheres to the unity of independence and openness to the outside world, actively participates in global governance, and continuously contributes to building a community with a shared future for mankind. In the process of continuing to promote a higher level of opening up to the outside world, we must give full play to this advantage, improve the security guarantee system for opening up to the outside world, firmly grasp the strategic initiative to safeguard national security, guide the international community to jointly shape a more just and reasonable new international order, and promote all parties to move toward the goal of mutual benefit and common security.

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