Taking Opening-up to a Higher Level

IN a highly interconnected world, an open economy can greatly benefit a country by taking advantage of the globalized value and supply chains.

- LIANG KAIYIN

It is therefore a wise option for a country to seek development through advancing opening-up, deepening international exchanges and cooperation, firmly opposing trade protectionism and unilateralism, reducing trade barriers, improving global value and supply chains, and fostering market demands. This can help steer economic globalization towards being more open, inclusive, balanced, and beneficial to all. China’s opening-up will continue to develop on a larger scale and at a deeper level. Therefore, China will open its door only wider to the world.

Despite the impact the COVID-19 pandemic has had on the country’s economy, China’s economic resilience and huge potential will still ensure it an upbeat, longterm development future. To better balance the pandemic’s prevention and control, and economic development, China needs to stimulate domestic demand, stabilize foreign trade, and further deepen its opening-up and international cooperation. To stabilize foreign trade and investment, China will endeavor to guarantee the smooth operation of the industrial chain and supply chain relating to foreign trade, fully take advantage of foreign trade policy tools, streamline customs clearance procedures, introduce more services to facilitate foreign exchange businesses, pay special attention to the progress of major foreign investment projects, and further improve its business environment. China will promote development and innovation by advancing its opening-up at a higher level.

New Domestic and International Landscapes