Theworldisnowundergoingtremendousdevelopmentandadjustment.Chinafacesgravechallengesasitendeavorstotransformitsdevelopmentpatterns,optimizeitseconomicstructureandadjustitsgrowthengines.Consideringtheprofoundchangesintheinternationallandscape,methodstodeepenreformandopeninguphavebecomeasignificantchunkofChina鈥檚adjustmentofdevelopmentstrategies.
OnApril10,ChinesePresidentXiJinpingdeliveredakeynotespeechthemed鈥淥pennessforGreaterProsperity,InnovationforaBetterFuture鈥漚ttheopeningceremonyoftheBoaoForumforAsia(BFA)AnnualConference2018,inwhichheofferedhisobjectiveassessmentoftheglobalsituationsfacedbyChina鈥檚reformandopeningupandansweredimportantquestionsincludinghowtocontinuedeepeningthereformandopeningup.Chinaisleadingtheworldintoaneweraofopenness.
OpennessKeytoWin-winResults
Sincethebeginningof2018,theinternationalsituationfacingChina鈥檚reformandopeninguphasbecomeincreasinglycomplicated.TradefrictionbetweenChinaandtheUnitedStates,inparticular,tendstoescalate.OnMarch8,U.S.PresidentDonaldTrumpsignedanorderthatraisestariffsonsteelandaluminumimports.OnMarch20,TrumpsignedamemorandumtoimposetariffsonnearlyUS$50billionworthofChineseimports,underthepretextthatChinahasforcefullyacquiredU.S.technologies.
Chinawarneditwouldtakecountermeasures.OnMarch23,China鈥檚MinistryofCommerceannouncedaproposaltolevyretaliatorytariffsonsomeU.S.exportstoChinainresponsetotheU.S.232TradeActiononsteelandaluminum.
OnApril5,PresidentTrumpinstructedU.S.traderepresentativetoconsiderUS$100billioninadditionaltariffsagainstChinabasedontheresultsofaninvestigationunderSection301.
TradefrictionbetweenChinaandtheUnitedStateshas,tosomeextent,disturbedChina鈥檚reformandopeningup,stirringworldwideconcernaboutwhethertheissuewillweakenChina鈥檚determinationtoopenupandhowthecountrywillcontinuereformsinthefuture.Inthiscontext,PresidentXiJinpingassuredtheworldthatChina鈥檚doorofopeningupwillnotclose鈥攊twillonlyopenevenwider.
Humanhistoryhasshownopennessleadstoprogressandseclusionleavesonebehind.Theworldhasbecomeaglobalvillageofintertwinedinterestsandinterconnectedeconomicandsocialprogress.Topromotecommonprosperityanddevelopmentintoday鈥檚world,allcountrieshavenochoicebuttopursuegreaterconnectivityandintegrateddevelopment.
Chinawillcontinuetoincreaseopennessandexpandcooperationasitstayscommittedtothestrategyofopeningupforwin-winresults.Thenationwillcontinuetoworkalongsidetherestoftheworldandmakegreatercontributiontomankindbyholdingfirmtothepathofpeacefuldevelopmentandstaunchlysupportingmultilateralism.
RecenthistoryhasshownthatopeningupwaskeytoChina鈥檚economicgrowthoverthepast40yearsandsimilarly,futurehighqualityeconomicdevelopmentcanonlybeachievedthroughgreateropenness.ThiswasastrategicdecisionmadebyChinabasedonitsdevelopmentneedsthatturnedintoactiontonudgeeconomicglobalizationinadirectionthatbenefitsmorepeoplearoundtheworld.
Today,Chinacontinuesdeepeningitsopeningup.Notonlydoesthismarkanewphaseofopennessatanewstartingpointbasedonthecountry鈥檚fourdecadesofreformandopeningup,butitalsomeetsthedemandsofglobaleconomicdevelopmentinthenewera.China鈥檚outward-orienteddevelopmentstrategyisvitaltothesteadygrowthoftheglobaleconomy.
Inthetwodecadesfrom1980to1999,Chinacontributed3.7percentofnominalglobalgrowth,andtheUnitedStates31.5percent.From2000to2007,beforetheoutbreakofthe2008globalfinancialcrisis,China鈥檚contributionratetoglobaleconomicgrowthroseto9.7percent,whilethatoftheUnitedStatesdroppedto17.3percent.Iftheimpactoftheworldwidefinancialcrisisistakenintoconsideration,Chinacontributed46.9percentofglobalgrowthfrom2008to2017,andtheUnitedStates29.7percent.In2017,Chinastillcontributed30percentofglobalgrowth.ChinahasovertakentheUnitedStatestobecomethebiggestcontributortoglobaleconomicgrowth,soitsdeeperopeningupwillplayaleadroleintheworld.FromApril8to11,the2018annualconferenceoftheBoaoForumforAsia,themed鈥淎nOpenandInnovativeAsiaforaWorldofGreaterProsperity,鈥漺asheldinBoao,acoastaltowninHainanProvince.byChenJian
AlogooftheBoaoForumforAsia.byXuXunUpgradedVersionofReformandOpeningUp
Atthisyear鈥檚BFAAnnualConference,PresidentXiJinpingpresentedfourmajormeasurestopursuefurtheropening:First,Chinawillsignificantlybroadenmarketaccess.Thecountrywillacceleratetheopeningofitsservicesector,especiallythefinanceindustry,andfullyopenthemanufacturingsectorwithfocusonautomobiles,shipsandaircraft.Second,Chinawillcreateamoreattractiveinvestmentenvironmentbyenhancingalignmentwithinternationaleconomicandtraderules,removingthesystematicandinstitutionalobstaclesthatpreventthemarketfromplayingamoredecisiveroleinresourceallocationwhileenhancingthegovernment鈥檚roleandimplementinganacross-the-boardmanagementsystembasedonpre-establishednationaltreatmentandanegativelist.Third,Chinawillstrengthenprotectionofintellectualpropertyrights(IPR).Itistakingmeasurestore-institutetheStateIntellectualPropertyOfficeandprotectlawfulIPRownedbyforeignenterprisesinChina.Atthesametime,ithopesforeigngovernmentswillaccordinglyimproveprotectionofChineseIPR.Fourth,Chinawillmakepositivestepstoexpandimports.Thecountrydoesnotseekatradesurplus,butmaintainsagenuinedesiretoincreaseimportsandachievegreaterbalanceofinternationalpaymentsunderthecurrentaccount.Chinawillsignificantlylowertheimporttariffsonautomobilesandreducetariffsonsomeotherproducts.ItwillseekfasterprogresstowardjoiningtheWTOGovernmentProcurementAgreement.
Despiterisinganti-globalizationsentimentandescalatingChina-U.S.tradefriction,Chinasteadilycontinuesopeningupfurther.ThismovedemonstratesChina鈥檚theoreticalandpracticalinnovationinopeningupandfurthersolidifiesitsnewvisionofseekingopendevelopmentinthenewera.
Inrecentyears,ChinahasworkedwithothercountriestojointlypromotetheBeltandRoadInitiative,whichhasacceleratedtheformationofanopeneconomicpattern,calledforconstructionofanopenglobaleconomyandactivelyguidedglobaleconomicgovernance.Thesemeasureswillmoveglobalizationforwardandinspirecountriesaroundtheworldtocarryoutcloserandmoreopencooperation.
Withtheadjustmentandimplementationofitsopening-upstrategyinthenewera,Chinawillfurtherenhancecooperationwithothercountriesandstridetowardsitsgoalofbuildingacommunitywithasharedfutureforallmankind.
TheauthorisaprofessorandvicedirectoroftheOfficeofWorldEconomicsattheInternationalStrategyAcademy,PartySchooloftheCentralCommitteeoftheCommunistPartyofChina(CPC).