China’s expanding opening up indicates responsibility of major country

By Zhong Sheng

China, responding to external uncertainties by continuous efforts to expand opening-up amid the US-provoked trade frictions, is contributing Chinese wisdom and schemes to safeguarding free trade and building an open world economy.

The high frequency of the country’s recent issuance of new opening-up measures attracted wide attention from the international society. Foreign media reported that the measures indicated China’s firm determination to open wider regardless of the escalating China-US trade war, and the country is sending a signal to other countries including its neighbors that China is open to foreign businesses.

Just take a look at the strong opening-up measures the country adopted over the past month.

Shenzhen started building itself into a pilot demonstration area of socialism with Chinese characteristics, and the Lingang expansion of the Shanghai free trade zone (FTZ) was officially unveiled.

Besides, six Chinese provincial-level regions including Shandong, Jiangsu, Guangxi, Hebei, Yunnan and Heilongjiang inaugurated their respective FTZs.

At the fifth meeting of the Central Committee for Financial and Economic Affairs, it was stressed that more support is needed to strengthen opening-up and collaboration, in a bid to establish strategic industrial chains with more resilience, innovation and higher added value. The State Council also mulled combined measures to boost consumption and accelerate circulation.

These measures, which aim at expanding development space and releasing development potential, demonstrate China’s determination to further share opportunities with the world.

China’s opening efforts have received positive response from the world. According to China’s Ministry of Commerce, the country saw more than 24,000 new foreign-invested enterprises established in the first seven months of this year, and foreign direct investment inflows in actual use exceeded 530 billion yuan ($74.86 billion), up 7.3 percent over the same period of last year.

The actual input value from Germany, South Korea, Japan and Netherlands increased by 72.4%, 69.7%, 12.6% and 14.3% respectively year on year. The actual investment amount from the EU increased by 18.3% year on year, and that from the countries along the Belt and Road routes by 5%.

These figures indicate the trust and support of the global countries in China’s opening-up, as well as their intention to work hand in hand with China.

As it is described by The Atlantic, the US government keeps pushing the rest of the world away and into China’s corner.

Reform and opening-up is a game-changing move in making China what it is today.
China will unswervingly expand opening-up and continue to deepen win-win cooperation with the world. Such spirit of a major country demonstrates China’s confidence and firm determination to safeguard its right to develop.

China will never stop its efforts to pursue higher-quality opening-up and to build an open world economy.

(Zhong Sheng is a pen name often used by People’s Daily to express its views on foreign policy.)