China's Potential and World Opportunities: The National People's Congress and Chinese People's Political Consultative Conference Signal the Expansion of High Level Opening up to the Outside World

2024-03-11

China's high-quality development is increasingly turning into opportunities for global sharing, and the open Chinese market is also becoming a shared market for the world. In the current uncertain world, the National People's Congress and the Chinese People's Political Consultative Conference have issued a clear signal to expand high-level opening-up to the outside world - China has always shared development opportunities with the world. On the 5th, Chinese Premier Li Qiang introduced the tasks of this year's government work in his government work report, proposing to expand high-level opening up to the outside world and promote mutual benefit and win-win outcomes. Promote the improvement of quality and stability of foreign trade; Increase efforts to attract foreign investment; Promote high-quality joint construction of the "the Belt and Road" to go deep and solid; Deepen bilateral and regional economic cooperation. Over the past 40 years, China's economic development has been achieved under open conditions, and in the future, China's high-quality economic development will also be achieved under higher levels of opening up to the outside world. "China's practice of opening up to the outside world has shown that only high-level opening up can effectively address the increasingly urgent global development challenges and make greater contributions to building a community with a shared future for mankind." Lai Mingyong, a member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference and a part-time professor at the School of Economics and Trade of Hunan University, said that China has entered a stage of high-quality development. To seize the opportunity of the new round of reform and opening up and promote the development of economic globalization, We must expand high-level opening-up to the outside world. Market share is a direct reflection of market competitiveness. The World Trade Organization predicts that China's international market share of exports will remain at a relatively high level of around 14% in 2023. It is worth noting that the export momentum reflects the move from being made in China to being created in China. Among them, the export of electric passenger vehicles, lithium-ion batteries, and solar cells, known as the "new three types" of products, exceeded the trillion yuan mark for the first time, with a growth rate of 29.9%. In 2023, China's imports of bulk and livelihood commodities will expand in an orderly manner, and new formats and models such as cross-border e-commerce will continue to develop. With the increasing economic and living standards of the Chinese people, the types and sources of imported consumer goods are becoming more diverse. Lin Zhiying, National People's Congress representative and Supply Chain Director of Sinopec (Hong Kong) Limited, said that China has a super large commodity consumption market, and high-level opening up to the outside world will further enhance the attractiveness of the Chinese market, drive import growth, and contribute to global economic activity. "One of the core characteristics of high-level opening-up to the outside world is institutional openness." Gu Xueming, a member of the National Committee of the Chinese People's Political Consultative Conference and President of the International Trade and Economic Cooperation Research Institute of the Ministry of Commerce, said that we must continue to deepen the flow of goods and factors, promote larger and higher quality cross-border flows of goods and factors, and also continue to comprehensively deepen reforms, steadily expanding institutional openness such as rules, regulations, management, and standards, Provide high-level institutional supply for high-quality development. As a major exploration of China's high-level institutional opening up, the Hengqin Guangdong Macao Deep Cooperation Zone officially implemented closure and operation at midnight on March 1st, marking a crucial step towards building a new system of high-level opening up integrated with Macau. In 2023, the State Council issued a document to take the lead in pilot docking with relevant international high standard economic and trade rules in five eligible free trade pilot zones and Hainan Free Trade Port, including Shanghai, Guangdong, Tianjin, Fujian, and Beijing. In the same year, the State Council issued a new plan,

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