Chinese President Determined to Push Forward China's Opening up

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Chinese President Determined to Push Forward China's Opening up

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Xi made remarks on various occasions this year to show his strong will to further push for economic globalization.

Chinese President Determined to Push Forward China's Opening up

Credit: CGTV

China is faced with a number of challenges in 2020, including the coronavirus pandemic and escalating U.S.-China tensions. Chinese President Xi Jinping has reiterated his resolve to carry on China’s economic reform and opening up policy, introduced by late statesman Deng Xiaoping in 1978. The policy ushered in nearly four decades of economic takeoff, transforming China’s agrarian economy into the world’s manufacturing powerhouse and the second largest economy, only after that of the United States.

“The new development pattern is not a closed domestic circulation, but an open dual domestic and international circulation,” Xi said when addressing a group of economic experts on August 24. The following is a timeline of his comments on a few topics made on his work trips and during conferences he presided over or attended this year.

Opening up to the World

“Accelerate the creation of new high grounds for the economic reform and opening up cause. Economic globalization has been facing headwinds recently. Despite and because of this, we will continue to uphold the flag of a community with a shared future for mankind. We will also defend and lead economic globalization unwaveringly.” -- An excerpt from his speech delivered at the Forum on Integration of Yangtze River Delta on August 20, 2020

“Under the principle of extensive consultation, joint contribution and shared benefits, the Asian Infrastructure Investment Bank needs to respond to adjustments and changes in the global economic landscape and engage more development partners in cooperation, push for regional economic integration, and help make economic globalization more open, inclusive, balanced and beneficial for all.” -- An excerpt from his address at the Opening Ceremony of the Fifth Annual Meeting of the Asian Infrastructure Investment Bank on July 28.

“We must stand on the right side of history, furthering the economic reform and opening up cause, stepping up cooperation in technologies, pushing for the building of an open world economy and the community with a shared future for mankind.” An excerpt of his speech addressed to a group of entrepreneurs on July 21, 2020.

“We must improve the analysis and assessment of international economic conditions, make targeted policies promptly in order to smooth the international supply chain and secure normal economic and trade activities.” His comments made during his field trip to Zhejiang province on April 1, 2020.

“We must continue to improve business environment in order to attract and retain investments as well as boost confidence of foreign investors in long-term investments and operations (in China).” An excerpt from his speech delivered at the Conference on the Prevention and Control of the coronavirus epidemic and coordination in advancing economic and social development on February 23, 2020.

Promoting Development Through Opening up

“We must proactively work together with any country, region or enterprise that is wiling to collaborate with us, including states, localities and companies in the United States, in order to build patterns of all-range, multi-level, diversified and open cooperation.” His comments made to economic experts on August 24, 2020.

“Promoting connectivity, open cooperation and inclusiveness is the way to cope with the global crisis and achieve long-term development. International development projects such as the Belt and Road Initiative (BRI) will pay a vital role in it.” An excerpt from a written message to thee High-level Video Conference on BRI International Cooperation released on June 18, 2020.

“(Ningxia Autonomous Region must) seize the great opportunities arising from BRI, open up its economy to other parts of China and foreign countries at the same time, foster open-minded economic players and build an open economy in order to realize high-quality economic development through enhanced measures in opening up.” His comments made during an inspection tour in Ningxia on June 10, 2020.

“(Yunnan province must) take a more proactive role in integrating itself into the development of the whole country, and take a more active part in pushing for regional economic and cultural connectivity.” His speech during an inspection tour in Yunnan province that borders Vietnam, Laos and Myanmar on January 21, 2020

Make contributions to Stabilizing the World Economy

“China’s position in the world economy will continue to be on the rise. Its ties with the world economy will be stronger. It will offer greater opportunities in Chinese markets to players from other countries and become a huge magnet for production factor resources and international products.” His comments made in a forum attended by socioeconomic experts on August 24, 2020

“Positive fundamentals of China’s economy are not changing and will not change in the long term. We will continue efforts to deepen reform and open up the economy, fully implement major policies introduced in recent years in order to provide a more sound business environment for Chinese and overseas investors, foster new opportunities and create new prospects. ” An excerpt of a letter to the Global CEO Council dated on July 15, 2020.

“We are willing to work with our partners to turn BRI into a model of cooperation for meeting challenges through unity, a model of health care for protecting people's safety and well-being, a model of economic recovery, and a model of growth for unlocking development potential.” An excerpt from a written message to the High-level Video Conference on BRI International Cooperation released on June 18, 2020.

“China will continue to pursue a proactive fiscal policy and prudent monetary policy, further its economic reform and opening up, allow greater foreign access, optimize the business environment, increase exports and make contributions to the world economy.” An excerpt of a speech delivered at the Special Summit of the Group of 20 on March 26, 2020.

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