Open Wider to the Outside World

Open Wider to the Outside World* 

April 8, 2013 

The prospects for China's economic development are bright. China will make greater contributions to the world as it pushes forward reform and opening up, accelerates the transformation of the growth model, implements the opening-up policy, and provides a better economic environment and favorable conditions for foreign enterprises. 

Entrepreneurs, who are also the main participants of this forum, are an important force in creating jobs and wealth and in promoting development and cooperation. Your decisions will have a major impact on the Asian economy as well as the wider world. I would like to take this opportunity to listen to your views and exchange ideas with you. 

The world economy is still in a phase of instability and uncertainty, and recovery will be a lengthy process of advances and setbacks. In contrast, economic growth in Asia is relatively robust. In this context, China's economic prospects have become an issue of universal interest. I would like to share with you my views on this topic. 

China has maintained sound overall economic development. Its growth will continue in the foreseeable future as industrialization, IT application, urbanization and agricultural modernization greatly expand the domestic market. The basics of our social productive forces remain solid, our advantages in productive factors are obvious, and our management and control systems and mechanisms continue to improve. 

At the 18th CPC National Congress we set the Two Centenary Goals as our objectives, and committed ourselves to the Chinese Dream of the rejuvenation of the Chinese nation. We will continue to inject new energy into the Chinese economy as we strive to realize these objectives and the Chinese Dream. As a result of our endeavors, we can be very optimistic that the Chinese economy will maintain a relatively high growth rate. China will shift its development focus to improving the quality and efficiency of growth, and make every effort to promote a green, circular, and low-carbon economy. 

The Chinese market operates fairly. Every company registered in China is an important component of the country's economy. Our commitment to the socialist market economy will remain resolute. We will continue to enhance the rule of law and actively improve our investment environment so that all enterprises can enjoy equal access to the factors of production, market competition and legal protection, and the Chinese market can become fairer and even more attractive. Our policies of utilizing foreign investment and protecting the legitimate rights and interests of foreign enterprises in accordance with law will not change. 

China will never close its door to the outside world. Over the past ten years it has fulfilled its promises to the WTO by creating a more open and standardized business environment. We will open up new areas and enable deeper access. Our economy will remain open to foreign investors, and we hope that other countries will extend the same access to Chinese investors. We firmly oppose protectionism in any form, and we are willing and ready to solve economic and trade differences with other countries through consultation. We actively promote the establishment of a multilateral trade system characterized by balanced and mutually beneficial development. 

China's domestic development benefits the rest of the world, and first of all its neighbors. In 2012 almost 16 million Chinese people traveled to our neighboring countries in east and southeast Asia. China has made a substantial contribution to Asia's economic development. In the next five years China's imports will reach US$ 10 trillion-worth and its outbound investment is expected to grow rapidly. China is making great efforts to increase its connections with its neighbors, to the advantage of both the regional and the world economy. 

China remains committed to reform and opening up, and we will improve the relevant policies. We will continue to improve the capacity and quality of our services, and provide a better environment for foreign entrepreneurs to invest and launch ventures in China. We hope that foreign enterprises will seize these opportunities to achieve further development. 

* Main points of the speech at a discussion of representatives of Chinese and foreign entrepreneurs during the Boao Forum for Asia Annual Conference 2013.

(Not to be republished for any commercial or other purposes.)