China’s reform, opening-up ‘at a new starting point’
Print Edition
CHINA’S policy of foreign investment utilization will remain unchanged, a spokesman for the 19th National Congress of the Communist Party of China said yesterday.
China will also keep unchanged its protection of foreign-funded companies’ lawful rights and interests as well as its commitment to providing better services for the investment and operations of companies from all nations, Tuo Zhen said at a press conference ahead of today’s opening of the congress.
“China’s reform and opening-up are at a new starting point,” Tuo told reporters.
He said the country will continue to stick to the basic state policy of opening-up, open even wider to the outside world and speed up the building of a new open economy system.
Market access will be further expanded and a new round of high-quality opening-up will be promoted, he said.
“Our goal is to achieve win-win and common development,” Tuo said.
China’s opening-up is expanding in both breadth and depth, he said, as he noted that the country leads the world in foreign investment utilization, outward investment and trade in both goods and services.
“A framework of two-way opening-up with greater depth and higher quality is taking shape,” he said.
China has ranked among the world’s top three in terms of foreign investment utilization for five straight years and its engagement in global economic governance is deepening, Tuo said.
China has full confidence in the positive long-term outlook and continued, sound growth of its economy, reporters were told.
The economy has strong momentum for steady progress and growth, and major international institutions have raised their growth forecasts for the country, Tuo said.
He dismissed concerns over any possible negative impact from measures to deleverage the economy, saying reducing leverage and stabilizing growth should not be seen as conflicting with each other.
Deleveraging can help defuse latent risks that affect the steady, healthy development of the economy and can boost the economy’s resilience in the medium to long term, he said.
“Initial progress has already been made in the efforts to reduce leverage, and it has not had any significant dampening effect on the economy.”
Between 2013 and 2016, China’s GDP maintained an annual average growth rate of 7.2 percent, contributing more than 30 percent of global economic growth, Tuo said.
Tuo stressed China’s determination to deepen reform, which he said had increased the momentum and vitality of the country’s economic and social development.
The 19th CPC National Congress will map out new strategic measures for the country’s reform and development in the coming five years and beyond, advancing reform from a higher starting point, Tuo said.
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