Propelling Reform and Development Through Further Opening Up

Opening up is a defining feature of Chinese modernization. It is imperative to promote the mutual progression of reform and opening up and propel reform and development through further opening up.

The Resolution of the Central Committee of the Communist Party of China on Further Deepening Reform Comprehensively to Advance Chinese Modernization was adopted at the third plenary session of the 20th CPC Central Committee.

It proposes a series of measures aimed at enhancing the synergy between domestic and international markets and resources and shaping new advantages for developing a higher-standard open economy.

These moves will serve to further underscore China's role on the world stage as a devoted practitioner of open development, an important promoter of reform in the global economic governance system, and an advocate and leader of building a global community of shared future.

We will steadily expand institutional opening up, promoting alignment with high-standard international economic and trade rules and harmonizing rules, regulations, management, and standards relating to major areas such as property rights protection and industrial subsidies.

To seize the initiative in opening up, we will actively participate in the reform of global economic governance and provide more global public goods.

We will foster a first-rate business environment that is market-oriented, law-based, and internationalized and make stronger efforts to attract and utilize foreign investment.

The catalog of encouraged industries for foreign investment will be expanded, the negative list for foreign investment will be reduced as necessary, and all market access restrictions on foreign investment in the manufacturing sector will be removed. We will promote more expansive opening up in sectors such as telecommunications, the internet, education, culture, and medical services in a well-conceived way.

National treatment will be ensured for foreign-funded enterprises, and we will keep working to make it more convenient for foreigners to visit or live in China and to consolidate foreign investors’ confidence in realizing growth in China.

We will optimize the regional layout for opening up. Leveraging the regional features and development strengths of the eastern, central, western, and northeastern regions, we will move faster toward all-around opening up through links running eastward and westward, across land, and over sea. The development of the Hainan Free Trade Port will be accelerated.

Harnessing the institutional strengths of the One Country, Two Systems policy, we will work to improve relevant mechanisms to see Hong Kong and Macao playing a greater role in China’s opening to the outside world. We will advance integrated cross-Strait development.

We will improve the mechanisms for high-quality cooperation under the Belt and Road Initiative and work to implement the eight steps for supporting high-quality development of the Belt and Road. To ensure solid progress toward high-quality development, we will carry out both major signature projects and “small but beautiful” public welfare projects. 

Editor: Zhang Xian