Chinese Opening-up Policies to Lead Integration of Global Economies

By Muhammad Zamir Assadi

China is the world’s second largest economy. Its domestic and foreign economic and development policies have attracted international attention.

History moves on and the future presents challenges to every country, but the only nations to thrive are those who devise their plans in the light of their local conditions, plans which provide benefits to the international community as well.

The Government Work Report presented by Chinese Premier Li Keqiang at the 13th National People’s Congress, recognized as a confident and reliable strategic framework, is a road map of inclusive development and achievements for all.

Messages Delivered by the 2018 Report

The report highlights various significant issues which will pave the way for achieving the new targets announced by President Xi Jinping, who is concurrently General Secretary of the CPC Central Committee, on the eve of 19th CPC National Congress last year.

The strategic emphasis of every country should be to get its own affairs straightened out on the path of development and growth.

The achievements mentioned in Premier Li’s report show that China is making steady progress towards the great centenary goals of rejuvenation.

The tasks presented may be difficult but success awaits if the plans are executed in the future as done in the past.

The message to the international community is that the development path adopted by the Chinese government is different from the Western model, but it has delivered in a transparent way, providing long-term benefits to the every section of society.

The success echoed in the report is a product of the collective innovation of the Communist Party of China (CPC) and the Chinese people.

The report signifies that the road to modernization and the rejuvenation of the Chinese nation which the Chinese people have taken under the CPC leadership has proved to be the right path for China.

The message is clear – China is willing to make the investment of effort required on the national and international stage, and is confident that it can overcome all difficulties and hardships.

Policies for Foreign Investment

The announcement of opening-up to foreign investment in manufacturing, telecommunications, elderly care, new energy vehicles and other sectors has attracted a great deal of attention from the international business community.

With its huge population and investment friendly policies, China is emerging as a safe and profitable destination for investors, and a barrier-free destination for flow of capital.

The initiative will speed up the competition among national and international financial institutions to reach international standards, while the Chinese leadership will continue its efforts to open the Chinese market wider to the outside world.

Its foreign investor-friendly policies will make it possible for China to play the leading role in the open market.

Success and achievements rely on opening-up policies and deeper reform, so the process will continue.

These policies have helped China to grow its economy rapidly and to contribute around 30% of global economic growth in recent years.

Chinese effort to integrate its economy with the world economy at large ams to push forward the agenda of inclusive growth.

It will also help the Chinese government to achieve its goal of getting the growth rate of 6.5 % in 2018 so the much desired expansion of Chinese market is on the way rather than the needed one.

The international community sees the announcement of opening-up of Chinese market for foreign investors in connection with the forthcoming import expo in Shanghai later this year.

A number of high-tech products will be exhibited for the first time at the China International Import Expo (CIIE), according to the CIIE organizing committee.

According to Xinhua.net, six global leading companies in fields such as helicopters, food, sports and service trade signed a participation contract with the CIIE Bureau on March.

The continuous process of liberalization and facilitation of international trade and investment by the Chinese government contrasts with the Western trend of trade barriers and restrictions.

A stable Chinese and international economy relies on sustainable reform achieved through innovation and international integration.

More opening-up will also lead the transformation of the development model by facilitating the scientific developments which will build a moderately prosperous society in all respects.

Belt and Road Initiative Sees More Cooperations

The work report also talked about the Belt and Road Initiative,whose vision of shared destiny has attracted international attention.

China’s investments in the Initiative, which is very close to the heart of the Chinese president, is unleashing the new dynamics of cooperation and connectivity through land and sea routes. It is bringing impressive changes to other developing countries in various regions.

The opening-up of the Chinese market, together with the Belt and Road Initiative, will bring about a peaceful international environment for shared development.

The Chinese government narrative of mutual trust, mutual benefits, equality and cooperation has been raisedt o a new level by the Belt and Road Initiative.

In my view the report reflects the CPC’s road of development and the innate requirements of Chinese socialism.

The report confirms that China is making steady progress in ensuring all the people enjoy the rights to education, employment, medical and old age care, and housing.

With greater opportunities for investment and a larger market, China’s economic development is bringing benefits to China and rest of the world.

China’s peaceful development and more opening-up mean win-win cooperation among Chinese companies and foreign business parties.

Another impressive target mentioned in the report is to lift 10 million people out of poverty in 2018 including the relocation of 2.8 million people.

The successful campaign has set an example in providing the best living standards to the millions of people since the founding of the People’s Republic of China in 1949.

Under the leadership of the CPC, the Chinese government has made tremendous progress in solving the problems of feeding and clothing the nation.

Its efforts have raised standards of living asit strives to build an even better country.

Although China has made impressive socio-economic improvements, it is still a developing country and the Chinese Party and government leaders believe that more concentrated and comprehensive efforts need to be made for the Chinese to lead a better life.

In summary, the report reiterates that the goal of the Chinese leadership is to build a moderately prosperous society in all respects by 2020 and to modernize China by 2050 by developing a socialist country that enjoys prosperity, democracy, advanced culture and harmony.

 

The author is a Pakistani journalist graduated in the China Development Studies from Renmin University of China.

He is also a media fellow of China South Asian and South East Asia press center program 2017.

The article reflects the author’s opinion, and not necessarily the view of China Focus’