Chinatobenefitglobaleconomywithfurtheropenuppolicies(3)-PeoplesDailyOnline

Friday, Nov 8, 2019SearchArchiveChineseChinese
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PortugueseHomeOpinionsBusinessMilitaryWorldSocietyCultureTravelScienceSportsSpecial CoveragePhotoVideoEnglishChina to benefit global economy with further open up policies (3)By Kou Jie (Peoples Daily Online)    09:37, November 06, 2019Shared development for allDuring the forum, the Chinese Academy of International Trade and Economic Cooperation released an opening-up report, which attempts to build a system for evaluating an economy’s openness, and aims to assess Chinas endeavors objectively and fairly.The report comes amid escalating trade tensions between China and the US, the worlds top two economies, and rising worldwide protectionism and anti-globalism. The report also responds to doubts among foreign governments and media outlets about China, noting that Chinas opening up is fair and beneficial for all.”At a time when protectionism has prevailed, its crucial to construct a comprehensive and fair system to assess the extent to which a country is opening up,” Zhang Wei, deputy president of the Chinese Academy of International Trade and Economic Cooperation, told reporters on the sidelines of the forum. “China has been opening up on all fronts. Its improper to evaluate such efforts based on only one criterion.”According to the report, China is the second-largest economy to invest abroad, while its foreign direct investment reached $1.98 trillion in 2018, ranking second in the world. The country almost fully opened its agricultural and manufacturing industries to foreign investment, benefiting both developing and developed countries.China has fulfilled its commitments since its entry to the World Trade Organization, and has been continuing to open up wider on its own agenda, Zhang said, citing the finance sector as an example.Chinas opening up has strengthened confidence among foreign investors. According to a report released by the Organization for Economic Cooperation and Development (OECD), Chinas Foreign Direct Investment (FDI) flows increased by 5 percent in the first six months of 2019, while FDI flows into the US dropped by more than a quarter.”Its obvious who is becoming more open and who is becoming more conservative,” commented Geng Shuang, spokesperson of Chinas Ministry of Foreign Affairs, at a press conference in October, adding that the main reason for the drop in global FDI is protectionism and unilateralism.The spokesperson also reiterated Chinas stance on opening up, commenting that China will further open its door to the world, and continue to combat unilateralism and protectionism with the help of the international community. 
【1】【2】【3】var addthis_config = {“data_track_addressbar”:false};(For the latest China news, Please follow Peoples Daily on Twitter and Facebook)(Web editor: Kou Jie, Bianji)Add your comment/* * * CONFIGURATION VARIABLES: EDIT BEFORE PASTING INTO YOUR WEBPAGE * * */var shortname=window.location.host;var disqus_shortname=;var disqus_identifier=;if (shortname==en.people.cn){disqus_shortname=enpeople;disqus_identifier = 9629821;}/* * * DONT EDIT BELOW THIS LINE * * */(function() {var dsq = document.createElement(script); dsq.type = text/javascript; dsq.async = true;dsq.src = // + disqus_shortname + .disqus.com/embed.js;(document.getElementsByTagName(head)[0] || document.getElementsByTagName(body)[0]).appendChild(dsq);})();Please enable JavaScript to view the comments powered by Disqus.Most Read1CIIE invites countries to get on board the express train of…267-year-old new mom may face fine for violating family plan…319th CPC Central Committee concludes fourth plenary session…4New era of 5G arrives in China with fair playing ground for…5Defaming China only exposes hypocrisy of some U.S. politici…Hot NewsXi, Modi head to second informal summit
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