Your current location:HOME >health >China's proactive opening up expands mutual dividends 正文
TIME:2024-05-17 05:37:17 Source: Internet compilationEdit:health
An aerial view of the Yangluo Port in Wuhan, capital city of central China's Hubei province. [Ph
An aerial view of the Yangluo Port in Wuhan, capital city of central China's Hubei province. [Photo/Xinhua]
With mutual benefit a major hallmark of China's opening up, the country has been expanding high-standard opening up more proactively, which will create new dividends for the world.
China will boost its imports of high-quality goods, fully apply the negative list for cross-border trade in services, and abolish all market access restrictions on foreign investment in manufacturing, according to the government work report delivered at the second session of the 14th National People's Congress, the national legislature.
The country will also reduce market access restrictions in service sectors such as telecommunications and healthcare, and make it easier for foreign nationals to work, study and travel in China, the report said.
These measures are part of China's efforts to expand high-standard opening up for greater mutual benefit, as laid out in the document. They prove that China is adhering to the correct course of economic globalization and endeavoring to deeply involve itself in global industrial cooperation and division of labor.
China is more proactive in opening-up measures aimed at aligning with high-standard international economic and trade rules, amplifying the interplay between domestic and international markets and resources.
China's reform and opening up has contributed to its remarkable economic growth over the past four decades. Having entered a new development stage, China is doubling down on this approach, stressing that its high-quality economic development needs even greater openness.
Despite facing a barrage of external and internal pressures in 2023, China's foreign trade resilience outshone many other countries. The rise in exports of "the new three," namely, new energy vehicles, lithium-ion batteries and photovoltaic products, coupled with a surge in cross-border e-commerce, highlights a new growth driver in its economy.
China's high-level economic opening up includes the expansion of institutional openness, increased market access, and enhanced services for foreign investors. The establishment of 22 pilot free trade zones is a case in point, serving as a testing ground for aligning with international trade norms.
Furthermore, China's outbound investment rose steadily last year. According to the Ministry of Commerce, China's non-financial outbound direct investment (ODI) increased 16.7 percent year on year to 917 billion yuan (about $129.22 billion) in 2023. Its non-financial ODI in Belt and Road partner countries came in at 224.1 billion yuan last year, an increase of 28.4 percent year on year.
This year, the country will continue to upgrade the pilot free trade zones, delegate more decision-making power to them and the Hainan Free Trade Port, and encourage development zones to engage in reform and break new ground, so as to develop themselves into new pacesetters for opening up.
Foreign investment in China remains buoyant, with reports indicating a positive long-term outlook among investors, underscoring China's allure as a premier investment destination.
In 2023, the number of newly established foreign-invested enterprises grew 39.7 percent year on year to reach 53,766 in China.
The majority of 183 companies studied are optimistic about the growth of the Chinese market, and 76 percent of them plan to reinvest in China in 2024, according to a report released by the American Chamber of Commerce in South China in late February.
The world's second-largest economy set its economic growth target at around 5 percent for 2024. Its foreign trade performance is encouraging. The country's total imports and exports of goods expanded 8.7 percent year on year in the first two months of 2024, with the volume hitting a record high over the same periods in history and the exports returning to double-digit growth.
China's opening up is in a constant process of expansion, which is certain to deliver greater benefits for itself and the world as well.
South China Sea: Filipino activists decide not to sail closer to disputed shoal2024-05-17 05:28
Japan: Foreign2024-05-17 05:01
Hamas airs video of Israeli hostages, says will disclose their fate2024-05-17 05:00
Unlicensed Hastings driver toppled motorcyclist, drove over him, causing fatal injuries, then fled2024-05-17 04:53
North Carolina revenue decline means alternate sources for voucher spending considered2024-05-17 04:41
Christopher Luxon, Anthony Albanese to discuss defence and security at first official meeting2024-05-17 03:20
Foreign Affairs Minister Winston Peters to resume 'Pacific reset' plan again2024-05-17 03:17
Could the genocide case against Israel at the UN's top court have an impact on the war in Gaza?2024-05-17 03:08
Denis Bouanga scores two goals to help LAFC beat St. Louis 22024-05-17 03:00
Parents 'frustrated' by not knowing how students compare to others nationally2024-05-17 02:57
White Sox acquire outfielder Corey Julks from Astros, recall outfielder Dominic Fletcher2024-05-17 05:17
Wastewater testing reveals alcohol consumption higher in smaller towns2024-05-17 05:12
Former Pakistan PM Imran Khan gets 102024-05-17 04:50
Scientists say one2024-05-17 04:45
Trainsquatting! Meet the 172024-05-17 04:31
Chinese court sentences Australian Yang Hengjun to death with two2024-05-17 03:53
Greek vessel hit by missile in Red Sea attack2024-05-17 03:40
Firefighters battle large bush fire in the Far North2024-05-17 03:16
Ship that struck Baltimore bridge had 4 blackouts before disaster2024-05-17 03:10
Nine apologises for using digitally altered image of Animal Justice Party MP Georgie Purcell2024-05-17 03:03