Building a new development paradigm will bring more market opportunities for international enterprises, according to Ning Jizhe, Vice Chairman of National Development and Reform Commission, P.R.China.
"China will unswervingly expand opening-up in an all-round way, making China a market of the world, shared by the word and for the benefits of all, and thus injecting more positive energy into the international community." said Ning Jizhe, Vice Chairman of the National Development and Reform Commission (NDRC) in a video speech on a joint dialogue with international member companies of the World Economic Forum(WEF) in Chengdu.
The dialogue aims to further introduce opening-up policy and measures to improve the business environment, attract foreign investment, help local governments to overcome difficulties, stabilize foreign investment and foreign trade, and ensure the safety and smoothness of industrial chains and supply chains. On that day, Ning Jizhe and Klaus Schwab, the WEF Executive Chairman, communicated with representatives of WEF international member companies through online and offline channels.
In his video speech, Schwab said that it is very important how countries around the world and international companies could participate in China's recovery and invest in China which is seeing recovery and continues to be an engine of global economy. China has been committed to reform and opening up, which we have witnessed over the past four decades. In future, the WEF, together with the Chinese government, will continue to maintain cooperation in vital areas of common interest to advance the development of the world.
Since the beginning of this year, the COVID-19 raging across the world has dealt a severe blow to the world economy. With extraordinary measures in the disease prevention and control, China has promoted the balanced economic and social development. The economic performance has improved month by month. In the first three quarters of the year, GDP achieved a 0.7% year-on-year increase, including 4.9 % growth in the third quarter, up by 1.7% than the second quarter. In October, four major indicators of China’s industry, services, consumption and investment continued to recover.
Data released today by the National Bureau of Statistics shows that in October, the industrial added value above designated size increased by 6.9 % year on year, the same growth rate as in September; the national service industry production index increased by 7.4 % year on year, 2% higher than September; the total retail sales of consumer goods is 385.6 billion yuan, with a 4.3% year on year increase, 1% faster than in September; From January to October, investment in fixed assets grew by 1.8% year on year, 1% higher than the duration from January to September.
The recently concluded Fifth Plenary Session of the 19th CPC Central Committee made a comprehensive plan for China's development during the 14th Five-Year Plan period, and proposed to speed up the construction of a new development paradigm with domestic circulation as the mainstay and domestic and international dual circulations reinforcing each other.
This is a strategic decision made by China to actively respond to the changing international and domestic landscape, to keep pace with the times to improve China's economy, and to reshape China's new advantages in international competition and cooperation, commented by Ning Jizhe. The dual circulation strategy is by no means a closed operation within its borders, but a strategy that points to intensify a new round of high-level opening-up and further deep integration with the global economy on the basis of full uses of both domestic and international markets and resources. It not only serves the needs of China's own development, but also brings more market opportunities for multinational enterprises and will better benefit the people of all countries.
On November 15, 10 ASEAN countries and 15 countries including China, Japan, South Korea, Australia and New Zealand formally signed the Regional Comprehensive Economic Partnership Agreement (RCEP), marking it the world's largest free trade agreement. The dialogue representatives observed that the signing of the RCEP is an important step for regional countries to safeguard the multilateral trade system and build an open world economy, is landmark significance for deepening regional economic integration and stabilizing the global economy, and will create a super economic circle, accelerate regional economic recovery and development, and inject new momentum into global economic recovery against the pandemic. It will provide a huge boost for China in building a new kind of open economic system and form a new development pattern with domestic circulation as the mainstay and domestic and international dual circulations reinforcing each other.
China is doubling its efforts to build a law-based market-oriented international business environment to open up wider. The NDRC is said to further shorten the negative list of foreign investment, treat companies of all ownerships and all countries including China as equals, implement foreign investment laws, protect legitimate interests of foreign companies, enhance the protection of intellectual property rights, and offer services in bringing in the foreign investment projects. A more-friendly business environment will be created for investors from all countries in their production, operation and investment in China. A higher-level platform of opening up will be built by delegating free trade test zones greater autonomy in reform and opening up, conducting systematic integrated innovation, enhancing business attraction efforts in national development and opening-up zones of all sorts, facilitating free mobility of production factors, and providing foreign investors with more options and greater convenience.