China to Deepen Reforms, Openness, and Expand Cooperation in New Era

BEIJING, June 12, 2021 / PRNewswire / – Believing that openness is the path to growth and wealth, Chinese President Xi Jinping called China and the rest of the world to expand cooperation and build a community with a shared future for humanity.

While attending the APEC CEO Summit in Bali, Indonesia back November 2013, the Chinese president cited a centuries-old saying to express the country’s strong determination to reform and open up its economy and strengthen cooperation with the rest of the world.

China commit to building a framework for trans-Pacific regional cooperation that benefits all parties. The vast Pacific is free of natural barriers, and we should not erect any artificial ones. “The ocean is limitless where we sail with the wind,” Xi said, quoting a line from a Chinese poem written 1,000 years ago.

The remarkable changes that have resulted from from China The 1978 reform and openness policy testifies to the great value of the conviction that openness is the path to growth and wealth.

Guided by this policy, the country has grown from a largely agricultural nation to the second largest economy in the world.

from China total imports and exports of goods increased by 1.9% year-on-year to reach 32.16 trillion yuan (about US $ 4.97 trillion) in 2020.

China has also joined the ranks of the world’s 10 most improved economies for ease of doing business for the second year in a row thanks to a strong reform agenda, according to a World Bank 2020 study report.

Meanwhile, China has signed cooperation agreements with 140 countries and 31 international organizations within the framework of the Belt and Road Initiative (BRI), since its launch in 2013.

As China embarks on a new journey towards socialist modernization via the 14th five-year plan (2021-2025), openness remains crucial for the country’s new roadmap.

China now has 21 pilot free zones (ZLE), having unveiled three new free zones last year. He also signed the Comprehensive Regional Economic Partnership Agreement, which is expected to be the largest free trade bloc in the world.

President Xi has previously promised that “from China the door to openness will not be closed and will only open even more ”, signaling the clear intention of greater global cooperation.



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