China's Development Plan
CHN | Nov 16, 2022

China to create new opportunities for the world with its own development: Xi

/ Our Today

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Chinese President Xi Jinping delivers a speech via video at the opening ceremony of the fifth China International Import Expo.

President Xi Jinping said on November 4 that China will amplify the interplay between domestic and international markets and resources, strive to create new opportunities for the world with its own development, and contribute its share to building an open global economy.

China will work with all countries and parties to share the opportunities in its vast market, Xi said while addressing the opening ceremony of the fifth China International Import Expo via video.

“We will step up efforts to cultivate a robust domestic market, upgrade trade in goods, develop new mechanisms for trade in services, and import more quality products,” he said.

Efforts will be made to establish pilot zones for Silk Road e-commerce cooperation and build national demonstration zones for innovative development of trade in services, in order to encourage innovation in trade and promote high-quality Belt and Road cooperation, he said.

China will work with all countries and parties to share the opportunities from its institutional opening-up, Xi said.

Chinese President Xi Jinping delivers a speech via video at the opening ceremony of the fifth China International Import Expo held in east China’s Shanghai on November 4.

The country will steadily expand institutional opening-up with regard to rules, regulations, management and standards, put into full effect the new Catalogue of Encouraged Industries for Foreign Investment, and further develop the national integrated demonstration zone for greater openness in the service sector.

“We will implement the strategy to upgrade pilot free trade areas, accelerate the Hainan Free Trade Port development, and tap into their role as pilot platforms for comprehensive reform and opening-up,” said Xi.

“We will engage fully and deeply in WTO reform negotiations, promote trade and investment liberalisation and facilitation, and enhance international macro-economic policy coordination, with a view to jointly fostering new drivers for global growth.”

Chinese President Xi Jinping

He also noted that the country will work with all countries and parties to share the opportunities from deepened international cooperation.

“We will engage fully and deeply in WTO reform negotiations, promote trade and investment liberalisation and facilitation, and enhance international macro-economic policy coordination, with a view to jointly fostering new drivers for global growth,” Xi said.

China will endeavour actively to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement to expand the globally-oriented network of high-standard free trade areas, he said.

The country will also firmly support other developing countries and assist them in growing faster, and promote the building of a community with a shared future for mankind, Xi added.

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