The Essential Meaning of High-Standard Opening Up

The more China develops, the more open it will become. Indeed, China's doors to the outside will only open wider. It is vital to resolutely push ahead with high-standard opening up and advance a broader agenda of opening up across more areas and in greater depth. In promoting high-standard opening up, it is important that we do the following.

First, pursuing institutional opening up to align with high international standards

Institutional opening up is an important symbol of high-standard opening up in China. Since the 18th CPC National Congress in 2012, we have worked to align with high-standard international economic and trade rules. We have both pursued deeper opening up in terms of flows of production factors and steadily expanded opening up in terms of institutions. At present, there is still room for further institutional opening up.

Advancing high-standard opening up means seizing the opportunities presented by our accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA). In doing so, we should promote a high level of alignment with international rules, regulations, management, and standards in key sectors and forge new strengths for developing a higher-standard open economy.

Second, taking voluntary steps and adopting unilateral measures to open our doors wider

Voluntary opening up and unilaterally opening our doors wider to the world's least developed countries are two important ways China can proactively open its market to the global community. Since the 18th CPC National Congress, the development of pilot free trade zones and the Hainan Free Trade Port has served as an important step in voluntarily opening wider to the world. These zones have effectively functioned as comprehensive testing grounds for reform and opening up. Furthermore, we have granted duty-free access to a wider range of products from the least developed countries.

Advancing high-standard opening up means taking a more proactive approach. It involves further widening market access, leveraging platforms for opening up as forerunners and testing grounds, increasing support for the world's least developed countries, and using our openness to drive greater common openness around the world and realize positive interactions between different countries.

Third, seizing opportunities for digitalization and green development

Digitalization and green development are emerging as important new engines for global economic growth. Since 2012, our country's digital and green economies have developed rapidly. In 2023, the import and export value of digitally deliverable services (a measure of digitally delivered trade encompassing digital products, digital services, digital technology, and data trade) exceeded 2.7 trillion yuan. The value of cross-border e-commerce imports and exports reached 2.4 trillion yuan. China has also made great contributions to the global green transition through trade and investment cooperation in the new energy sector.

Advancing high-standard opening up means being oriented toward digitalization and green development. It is about accelerating the transformation of our growth model, deepening international cooperation with regard to the digital economy and green development, and actively getting involved and taking a lead in formulating international rules, so as to foster new growth drivers and strengths.

Fourth, meeting people's needs for a better life

Ultimately, the purpose of opening up is to improve the wellbeing of our people. Since the 18th CPC National Congress, opening up has been a powerful driver of steady growth and stable employment, creating benefits for our people. Foreign trade and investment have supported over 200 million jobs both directly and indirectly. Furthermore, large inflows of high-quality imports have facilitated upgrades in both industry and consumption. People are now generally less concerned about simply having enough and more focused on enjoying better quality.

Advancing high-standard opening up means ensuring and improving people's wellbeing. It involves consolidating the fundamentals of foreign trade and investment, converting the dividends derived from opening up into drivers for growth, and promoting balanced regional development. All this will ensure that more people enjoy a greater share of the gains generated from opening up.

Fifth, pursuing mutually beneficial cooperation

History has repeatedly proven that openness, inclusiveness, and mutually beneficial cooperation are the right path for humanity. Since the 18th CPC National Congress in 2012, we have firmly adhered to a mutually beneficial strategy of opening up. As a result, China has emerged as a major trading partner for over 140 countries and regions. Moreover, it has consistently accounted for around 30% of global economic growth. The China International Import Expo (CIIE) has gone from strength to strength and continues to create new opportunities for the world through China's development.

Now more than ever, humanity must rely on international cooperation, openness, and sharing in order to solve the global development challenges we face.

Advancing high-standard opening up means forging closer bonds with countries around the world through shared interests. It involves playing an extensive role in the global industrial division of labor and industrial cooperation and maintaining a diverse and stable international economic landscape and trade relations in order to promote shared development.

Sixth, ensuring both development and security

The more open we are, the more we must focus on security, and the more we must coordinate development and security. Since 2012, we have applied a holistic approach to national security, working to weave a robust safety net for opening up in order to guard against and defuse various risks. At present, we are faced with a grave and complex international landscape, marked by an increasing number of uncertainties and unforeseen factors.

Advancing high-standard opening up is about ensuring positive interactions between high-quality development and greater security. It means enhancing our capacity and standards for regulating opening up. As we expand opening up, we must work to boost our composite national strength and work in a dynamic way to safeguard economic security.

Editor: Zhang Xian