Title:China’s High-Standard Opening-Up to Boost International Economic Cooperation in the New Era

Author:ZONG Liang and LI Yingting

The global economy is expected to be under pressure in 2023 and the outlook for economic growth remains gloomy. China's opening-up to the world under present circumstances serves as a pivotal force to stimulate global economic expansion and facilitate international financial stability. It also exemplifies high-standard opening-up. According to China's 14th Five-Year Plan (2021-2025) for National Economic and Social Development，China aims to pursue a higher level of opening-up. The 20th National Congress specifies “high-standard opening up” as improving the level and quality of trade and investment cooperation，expanding institutional opening up，and reducing trade and investment barriers etc. The Central Economic Work Conference in 2022 has also emphasized China’s resolve to open the door wider. At the conference，President XI Jinping stressed that China would make greater efforts in attracting and utilizing foreign capital，widening market access，and improving business environment comprehensively. Currently，many countries acknowledge China’s principle of win-win cooperation against the backdrop of beggar-thy-neighbor policies and unilateral sanctions being gradually abandoned by the international community. This shows great significance of China’s efforts in promoting international economic cooperation in the new era.

New Features of China’s High-Standard Opening-Up