What does China's adherence to a high level of opening-up bring to the world

2023-03-20

This year is the 45th year of reform and opening up, and the recently concluded National People's Congress and National People's Congress have played a strong voice that reform and opening up will not stop. A recent interview survey conducted by Xinhua News Agency for overseas experts, scholars, and politicians and businessmen on "Key Words about China's Development" showed that "Promoting high-level opening up" is a hot topic for overseas people to pay high attention to China's future development plans and measures. In recent years, China has adhered to the implementation of wider scope, wider fields, and deeper level of opening up to the outside world. It has adhered to the posture of more development and openness, interacting with the world, jointly building a higher level open world economic system, and exploring a win-win path. Welcoming the World with a Super Large Scale Market Against the background of the fundamental certainty of supporting national economic growth and the stability of the policy environment of continuing to promote high-level opening-up, China has created opportunities for trade and investment in China by relying on a super large scale market with a population of over 1.4 billion and middle-income groups of over 400 million. In 2022, China's total retail sales of consumer goods reached 44 trillion yuan, firmly ranking the second largest consumer market in the world and becoming the second largest import market in the world for the 14th consecutive year. Over the past 40 years of reform and opening up, China has embraced the world with an open mind, importing goods from less to more, from available to superior, achieving a leap from price orientation to quality priority, from a single category to a dazzling array, from focusing on brands and services to introducing capital and technology. McKinsey 2023 Chinese Consumers Report states that trends such as the continued growth of middle-income groups are reshaping the Chinese consumer market, a judgment that has been recognized by overseas experts. "China's adherence to a high level of opening-up will increase the demand for high value-added products and benefit global economic growth," Santiago Bustro, a researcher at the Argentina China Research Center at the University of Buenos Aires, Argentina, told Xinhua. At present, the third Consumer Expo is in hot preparation, and hundreds of enterprises have signed up to participate in the sixth Consumer Expo... China's national "exhibition matrix" condenses the world with a strong "magnetic field". Sharif Ghali, Director of the Department of Political and International Relations at Abuja University in Nigeria, said that China's high-level opening-up has strengthened the role of these international cooperation platforms and provided more opportunities for the display of products from various countries. In recent years, China has introduced regulations for the implementation of the Foreign Investment Law, reduced the negative list of foreign investment access, and continuously optimized the business environment. It is becoming a hot spot for global investment and prosperity. Famous companies such as Nestle Group of Switzerland, BASF Group of Germany, and ExxonMobil of the United States have actively expanded their presence in China. Global asset management companies such as Fidelity International and Fanta Group of the United States have also found new opportunities to invest in the Chinese market in the open atmosphere of China. "Many Arab manufacturers and wholesalers look for raw materials, production lines, and products, and ultimately choose China," said Egyptian businessman Hassem Talha, who has visited China many times. Banbang Surjono, chairman of the Asian Innovation Research Center, a think-tank in Indonesia, said that more foreign investment choosing China and continuing to increase investment is a confidence in China's market potential and industrial chain system. "In recent years, China has adhered to a high level of opening-up, deeply participated in global industrial division and cooperation, made good use of both domestic and international resources, and strived to expand"

Edit:He Chuanning    Responsible editor:Su Suiyue

Source:Xinhua

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