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Requirements for High-Standard Opening Up in the Current Era

By Qiu Ping Source: Updated: 2023-06-16

Unprecedented global and epochal changes are occurring, and China is seeking and promoting its own development amid a more complex and graver strategic environment. Our economy still faces considerable risks and challenges and thus requires high-standard opening up in the current era.

Promoting in-depth reform

High-standard opening up can drive in-depth reform. By leveraging opening up, we can improve the socialist market economy, give full play to the market's decisive role in resource allocation, ensure the government better fulfills its role, and create a world-class, market-oriented, and law-based business environment in keeping with international standards.

Working in line with high-standard international economic and trade rules, we should give fuller rein to the role of free trade zones and the Hainan Free Trade Port as testing grounds for reform and opening up, steadily press ahead with opening up at the institutional level, and promote the formation of new systems for a higher-standard open economy.

Boosting high-quality development

Advancing high-standard opening up has helped China to attract more advanced production factors from around the world and better utilize domestic and international markets and resources. It has created additional leeway for improving the quality of development and for adding new growth drivers, enabling us to achieve a high level of self-reliance and strength.

High-standard opening up can promote high-quality development. By giving fuller play to the role of opening up, we have made the shift to a new development model, adjusted the economic structure, boosted growth efficiency and effectiveness, and promoted technological innovation and industrial upgrading.

China has thus advanced along a path of open innovation, engaged in more extensive international scientific and technological exchanges and cooperation, and molded new drivers and new strengths for promoting high-quality development.

Creating a new development dynamic

High-standard opening up serves our efforts to create a new development dynamic. By implementing the strategy of expanding domestic demand and promoting the formation of a strong domestic market, we aim to develop a robust domestic economy to attract global resources and factors.

To this end, we shall make more efforts to build China into a trader of quality, push for greater trade and investment liberalization and facilitation, and promote market connectivity, industry integration, mutually reinforcing innovation, and alignment of rules, all of which will help form virtuous economic flows based on a higher standard of openness.

Satisfying people's desire for a better life

The fundamental goal of development is to improve people's wellbeing.

High-standard opening up can help satisfy people's desire for a better life. By giving more play to the role of foreign trade and investment, we can keep employment and the economy stable and increase imports of high-quality products and services that will meet people's diverse consumption needs on multiple levels. This will help ensure our people enjoy an increasingly stronger sense of fulfillment and happiness.

Advancing win-win cooperation with the rest of the world

Practice has proven time and again that openness, inclusiveness, and win-win cooperation are the right way forward for humanity.

High-standard opening up and mutually beneficial international cooperation should be reflected in mindsets and measures aimed at greater openness. China works to promote broader consensus on global openness and cooperation, pursues a vision of global governance featuring shared growth through discussion and collaboration, proactively assumes responsibilities as a major country, and upholds the multilateral trading system.

In this way, we wish to provide more Chinese insight and greater Chinese strength for building an open world economy and a global community of shared future.

Ensuring both development and security

Advancing high-standard opening up also calls for a greater emphasis on security. To achieve this, we should continue to pursue a holistic approach to national security, maintain independence while expanding opening up, acquire a full grasp of new problems and challenges that arise in the process of more expansive opening, and properly manage the extent, pace, and intensity of opening up.