Home 禄 Opinion 禄 Chinese Views
China to open up on all fronts like never before
Print Edition
Chinese leaders have told national lawmakers during the major annual political sessions that the country will open up like never before.
China鈥檚 opening door will not close, said President Xi Jinping on Sunday afternoon, vowing the country will keep on opening up on all fronts, and continue to liberalize and facilitate trade and investment.
Xi made the remarks while joining a panel discussion with lawmakers from Shanghai at the annual session of the National People鈥檚 Congress (NPC). Shanghai has been a pioneer of opening up, and is home to China鈥檚 first pilot free trade zone.
Delivering a government work report to NPC deputies Sunday morning, Premier Li Keqiang detailed unprecedented opening-up measures to the outside world. Foreign firms will be able to get listed on China鈥檚 stock markets and issue bonds. They will also be allowed to participate in national science and technology projects, Li said.
Foreign firms will be treated the same as domestic firms in license applications, standards setting, and government procurement, and will enjoy the same preferential policies under the Made in China 2025 initiative, a plan to modernize the manufacturing sector.
Significant improvements will be made in the environment for foreign investment. Service industries, manufacturing and mining will be more open to foreign investment.
Local governments can, within the scope of the powers granted them by law, adopt preferential policies to attract foreign investment. China will build 11 high-standard pilot free trade zones, and widely spread practices developed in these zones that are proven to work, according to the report.
China will extend the practice of processing international trade through a single window, which enables cross-border traders to submit regulatory documents at a single location and thus improves efficiency. The authorities will achieve nationwide integration of customs clearance procedures this year, Li said.
Positive reaction
鈥淔oreign capital鈥檚 participation in China鈥檚 national science and technology projects will expedite the commercialization of basic science research achievements,鈥 said Qiu Zilong, a researcher with the Center for Excellence in Brain Science and Intelligence Technology, the Chinese Academy of Sciences.
A catfish effect is expected as foreign capital penetrates China鈥檚 development in science and technology, said Wang Jing, head of Newland Technology Group, who is also a member of the Chinese People鈥檚 Political Consultative Conference National Committee.
Globalization and liberalization of trade are the trend of the time, and Chinese enterprises must follow President Xi鈥檚 directives in opening up to get an edge in global competition, said Chen Xuyuan, head of Shanghai International Port Group and an NPC deputy.
The latest opening-up initiatives demonstrate China鈥檚 confidence and focus, said Zhang Zhao鈥檃n, deputy head of the Shanghai Academy of Social Sciences and an NPC deputy.
China is seen as the anchor of globalization. Experts have taken note of China鈥檚 emphasis on opening up, casting the choice as one which benefits China itself as well as the rest of the world.
鈥淟eaning against the anti-globalization headwinds, the Chinese government recently emphasized the need to further open up the economy and attract foreign investment. We think concrete moves in this direction can help China move up the value chain,鈥 wrote Ding Shuang, an economist with Standard Chartered, in a preview of the NPC session.
Earlier this year, President Xi made a passionate speech at the World Economic Forum in Davos, Switzerland, in which he compared protectionism to 鈥渓ocking oneself in a dark room.鈥
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
