The opening of China weighs heavily – CGTN

The fifth CIIE opens at the Shanghai National Convention and Exhibition Center on Nov. 5, 2022. /CFP

The fifth CIIE opens at the Shanghai National Convention and Exhibition Center on Nov. 5, 2022. /CFP

Editor’s note: Gao Lei is Associate Professor at the Center for Xi Jinping Thoughts on Opening-up, Research Institute of Globalization and China’s Modernization, University of International Business & Economics. Xia Lu is Associate Professor and Research Fellow at National Academy for Development and Strategy, Academy of Xin Jinping Thoughts on Socialism with Chinese Characteristics for a New Era, Renmin University of China. The article reflects the opinions of the authors and not necessarily the views of CGTN.

Chinese President Xi Jinping, also general secretary of the newly elected 20th Central Committee of the Communist Party of China (CPC), delivered a keynote speech at the opening session of the fifth China International Import Expo (CIIE) on 4 November, calling on all countries to work together towards a bright future of openness and prosperity.

Since its launch in 2018, the CIIE has fulfilled people’s hopes both in China and other countries to advance shared prosperity and progress through international trade and business cooperation. And as an international trade and business gala held immediately after the 20th CPC National Congress and alongside a series of diplomatic events, the CIIE has more messages to convey.

Although facing an uncertain situation not seen in a century, Chinese leaders have made continuous efforts to provide certainty to the global community. Xi designated the CIIE with three key functions: a showcase for China’s new development paradigm, a platform for high-level opening up, and a public good for the whole world. As a mechanism that is gradually taking shape, the CIIE is very important to both China and the world.

In his report to the 20th CPC National Congress, Xi stressed “openness to the outside world” in many places, stressing that “China adheres to the basic policy of opening up the state, firmly pursues the strategy of openness for mutually beneficial and win-win, and constantly bring new opportunities to the world with the further development of China. While reaffirming the status of openness as China’s fundamental state policy to the outside world, this crucial statement also sends a strong signal to the world that no matter what changes occur, trust and China’s desire to open up to the outside world are as firm as a rock.

On the one hand, as a component of the new development paradigm, openness has benefited China from a series of miracles since the country embarked on its cause of reform more than 40 years ago. Especially in the past extraordinary decade, Chinese leaders with Xi Jinping as the core have unremittingly promoted high-level opening up, opened the country’s door to engage in economic construction, and propelled reform, development and innovation through openness, injecting strong impetus into China’s economic and social development and stimulating the vitality, potential and driving force of the country’s economy.

As a result, China has become the world’s second largest importer for 13 consecutive years, and in the first half of this year, Chinese imports accounted for 10.6% of the world total. In addition, China is the export market of 210 countries and regions, as well as the main export market of 60 countries and regions, ranking first in the world in total merchandise trade, attracting more foreign investment. and making even more foreign investments with other parties. of the world, forming a model of opening up to the outside world with a wider scope, a larger scale and a deeper level.

Meanwhile, the opening has also brought many opportunities to the world. China has taken the initiative to open its door to the world, integrate into global development, push forward an open world economy, share development opportunities with other countries in the process of opening up and integration, and to become an essential “stabilizing factor” and “main engine” of international economic growth.

A view of the automobile exhibition space during the 5th CIIE in Shanghai on Nov. 7, 2022. /CFP

A view of the automobile exhibition space during the 5th CIIE in Shanghai on Nov. 7, 2022. /CFP

A view of the automobile exhibition space during the 5th CIIE in Shanghai on Nov. 7, 2022. /CFP

The feat could be listed as follows: from the quality co-construction of the “Belt and Road Initiative” to the promotion of the Global Development Initiatives, from the promotion of the official entry into force of the global regional agreement (RCEP) to formal application accede to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA); The list is lengthened increasingly.

The high quality and high level of openness to the outside world demonstrate China’s sincerity in embracing the world and bringing development dividends to the rest of the world.

In fact, at the Fifth Plenary Session of the 19th Central Committee held nearly two years ago, the CPC already set a clear goal of establishing a new system for a top-level open economy in the next five to 15 years. According to the outline of the 14th five-year plan (2021-2025) for national economic and social development and the long-term goals until 2035, China will promote the liberalization and facilitation of trade and investment, and carry out the opening-up of the financial sectors, including banking, securities, insurance and futures.

Moreover, in terms of institutional openness, the country will continue its approach in terms of regulation, management and standardization, concretized with the new Catalog of Industries Encouraged to Foreign Investments, and will develop the integrated national demonstration zone for a greater opening. in the service sector.

As the past shows, China cannot be separated from the world in achieving its development, and the world also needs China for greater prosperity. Today, China is promoting a new development paradigm with domestic circulation as the mainstay and mutually reinforcing domestic and international circulation. New mechanisms have been put in place to build a better open economy.

China sticks to a win-win strategy of opening up, and it will seek impetus for the world’s development and contribute more to the world with its own development.

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