Innovation key to becoming a strong trader
Print Edition
China has formulated six major tasks and eight action plans to promote high-quality development of economics and trade over the next five years, Commerce Minister Zhong Shan said yesterday.
China is a big country in economics and trade in view of its leading indicators in consumption, trade, foreign direct investment and overseas direct investment, but it is far from a strong trader, Zhong told a press conference on the sidelines of the first session of the 13th National People’s Congress.
To become strong, China must stick to innovation and take the road of high-quality development, Zhong said.
Before 2020, China should consolidate its position as a big trader. Becoming a strong trading nation should be basically realized by 2035 and accomplished in all respects by 2050.
In the coming five years, there are six tasks to fulfil: Strengthen the fundamental function of consumption in economic growth; improve the competitiveness of foreign trade; boost two-way investment levels; optimize regional opening-up pattern; form new international economic and trade relations; and make commerce activities better serve people’s livelihoods.
China has made eight action plans, including consumption upgrading, investment innovation, cooperation under the Belt and Road initiative as well as multilateral regional economic and trade cooperation.
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