BEIJING: China’s latest commitment to expanding high-level opening-up is expected to reassure foreign investors of the nation’s promise to relentlessly open its door wider and share development dividends with the rest of the world despite the rising tide of protectionism in some countries.
In a virtual keynote speech to the opening ceremony of the BRICS Business Forum held on Wednesday, President Xi Jinping said that China will continue to pursue opening-up of higher standards, develop new systems for a higher-standard open economy, foster a business environment that is based on market principles, governed by law and up to international standards.
Xi encouraged businesses to invest and develop in China, enhance trade and economic cooperation, and share development opportunities. In an article published on Wednesday in People’s Daily, He Lifeng, head of the National Development and Reform Commission, wrote that Xi Jinping Thought on Socialist Economy with Chinese Characteristics for a New Era makes it clear that expanding opening-up in an all-around manner is an important “magic weapon” for China’s economic development. “We must firmly implement the basic State policy of opening-up to the outside world, build new systems for a higher-level open economy, promote the high-quality development of the Belt and Road Initiative, and push for an economic globalization that is more open, inclusive, balanced and beneficial to all,” he wrote.
–The Daily Mail-China Daily news exchange item
