China actively opens up to achieve win-win development with the world
By
Zhong Sheng
Against
the backdrop of increasing uncertainties and destabilizing factors in the world
economy, China has taken firm and strong actions to open wider, which is of significance
for boosting confidence in the global market.
China
ranks 31st out of 190 economies in terms of ease of doing business, up from the
46th last year, according to a newly-released report by the World Bank. It is the second
year in a row that the country has ranked among the top 10 economies in the
world that improved the most on the ease of doing business.
Such
rankings fully demonstrate that China has gained a vote of confidence from the
international community for its reform and opening-up and economic prospects.
China
has made pragmatic efforts against difficulties to improve its business
environment. Since the beginning of this year, the country has introduced a
series of policies and measures to create a more attractive business environment.
In
March, it passed the foreign investment law to provide stronger protection for
overseas investors. Later in June, the country rolled out new negative lists
for foreign investment market access and a revised catalogue of industries that
encourage foreign investment to further open up, both of which went into effect
starting from July 30.
China
also set up a new batch of pilot free trade zones in the six provincial regions
in August, including Shandong, Jiangsu and Yunnan.
In
October, the country revised the regulations on management of foreign-invested
insurance and of foreign-invested banking firms to further open up its
insurance and banking sectors to foreign investors.
A
few days ago, China made public a regulation on optimizing business environment
to legalize effective practices of streamlining administration, delegating
powers, strengthening regulation and improving services in the past few years.
Aligning
with advanced international levels, the regulation specifies the basic
principles and directions for fostering a fair and equal business environment
for all market players, including both domestic and foreign companies.
The
new policy will ensure equal market access and protect fair competition,
Reuters commented.
China
is determined to deepen reform and open wider to the outside world. As a
contributor to and a beneficiary of economic globalization, China will remain
steadfast in pursuing the path of peaceful development and an opening-up
strategy of mutual benefit to continue adding impetus to an open world economy,
Chinese President Xi Jinping said in a congratulatory letter to the fourth
Understanding China Conference that opened on Oct. 26 in Guangzhou, south
China's Guangdong province.
China
will work with other countries to promote economic globalization and make it
more open, inclusive, balanced and beneficial to all, he said.
By
creating a law-based, internationalized and business-friendly business
environment, China is able to form a new pattern of all-round opening-up. Increasingly,
the country is playing a leading role in further integrating into the world
economy and securing common development with other countries.
Martin
Jacques, a British scholar, thinks that China contrasts sharply with some
western countries in terms of the attitude towards openness and globalization,
as China is becoming more and more open, while some western countries are
showing the opposite tendency.
A
sound business environment makes the economy more productive, competitive and
attractive. With a constantly optimizing business environment, China and
foreign companies have achieved more win-win results.
While
global foreign direct investment slid for the third consecutive year in 2018,
30,871 foreign-invested enterprises were newly established in China in the
first three quarters of this year, with the actual use of foreign capital
increasing by 6.5 percent year on year.
According
to a report from the Ministry of Commerce, foreign-invested enterprises, which
account for less than 3 percent of the total number of enterprises in China,
contribute nearly half to the country's foreign trade, a quarter of the output
value and profits of industrial enterprises above the designated size, and one
fifth of the tax revenue. They have become a vital part of China's open
economy.
U.S.
electric automaker Tesla Inc. said the trial production of its Shanghai
gigafactory ahead of schedule is a major reason for the company's better-than-expected
financial results in the third quarter.
China's
opening-up gathers strong momentum. Earlier this month, the first Qingdao
Multinationals Summit was successfully held, where more than 100
companies on the Fortune Global 500 list shared their vision about
China's opportunities.
The
2nd China International Import Expo, which will be held from Nov. 5 to 10, has
attracted more countries, regions and enterprises to participate than the first
one.
China
is opening wider to the world and taking active actions to create new
opportunities for the development of all countries and inject strong impetus
into the world.
(Zhong
Sheng is a pen name often used by People’s Daily to express
its views on foreign policy.)
Photo taken on Oct. 26, 2019 shows
the National Exhibition and Convention Center in Shanghai, the venue of the second
China International Import Expo (CIIE). (Photo/Ji Haixin)
China actively opens up to achieve win-win development with the world
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