BEIJING, April XNUMX / PRNewswire / - “Boundless is the ocean where we sail with the wind” is a verse from a Chinese poem that was written 1000 years ago.
The old adage that there are no geographical borders when we travel to meet friends has continued resonance in modern China as well.
“I want to be very clear. China's opening door will not be closed, it will continue to open, ”said Chinese President Xi Jinping at the Boao Forum for Asia 2018.
Of reforms and opening ...
The remarkable changes that have resulted from China's reform and opening-up policies of 1978 illustrate the deep conviction that openness is the way to more growth and prosperity.
Thanks to political reforms, the country has transformed from a largely agricultural nation into the second largest economic power in the world.
China's total goods imports and exports grew 2020 percent year over year to 1,9 trillion yuan (about $ 32,16 billion) in 4.647, hitting a record high despite a global drop in shipments. This makes China the only major economy in the world that recorded a positive development in external trade in goods.
In 1978 the volume was only about $ 20,6 billion.
China has worked hard to attract more global investors to its huge domestic market by expanding access to its market and improving the business environment.
A recent survey by the Ministry of Commerce found that 96,4 percent of foreign investing companies are optimistic about their business prospects in China.
According to a World Bank study report for 2020, thanks to a robust reform agenda, China is among the top ten economies in the world for the second time running, thanks to a robust reform agenda.
Since 2013, China has signed cooperation agreements with 140 countries and 31 international organizations as part of the Belt and Road Initiative (BRI).
... towards a new development pattern
While China is embarking on a new path towards socialist modernization with the 14th Five-Year Plan (2021-2025), opening up remains crucial for the country's new roadmap.
In the plan, China reveals its dual circulation economic concept and promises to further open its markets over the next five years in order to overcome the economic downturn caused by the virus and promote international cooperation.
The new development paradigm means that both domestic and foreign markets are better connected and used by exploiting the potential of the internal market.
And concrete efforts are already underway to achieve this.
After three new pilot free trade zones (FHZ) were presented last year, China now has 21 FHZs. The country has also signed the Regional Comprehensive Economic Partnership, which aims to become the largest free trade bloc in the world.