High-level opening-up continues to advance Perspective on China's "new" economic strength

Source: People's Daily Online

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Editing and video: People's Daily reporter He Meng and Wei Qingcheng

【Summary of Views】

-- Promoting reform and development through opening up is an important magic weapon for the mainland to continuously make new achievements in its development.

● If the world is good, China will be good; If China is good, the world can be better.

● Accelerating the development of new productive forces by expanding high-level opening-up will allow more foreign enterprises to invest, deepen and win in China.

At present, from scientific research institutes to the front line of industry, all parts of the country are cultivating and developing new quality productive forces, seeking "quality" from "new". In the first quarter, the added value of high-tech manufacturing above designated size increased by 7.5% year-on-year, the high-tech service industry continued to maintain a rapid growth trend, and the added value of information transmission, software and information technology services increased by 13.7%.

The data in the first quarter is full of "new", how to further stimulate China's economy to "new"? "Promoting reform and development through opening up is an important magic weapon for the mainland to continuously make new achievements in its development." A few days ago, Jin Ruiting, director and researcher of the Institute of Foreign Economic Research of the National Development and Reform Commission, said in a guest at the "Micro Observation of China's Economy: Expert Talk" that by expanding high-level opening up and accelerating the development of new quality productive forces, more foreign enterprises will invest in China, deepen their cultivation in China, and win in China.

High-level opening up to the outside world escorts the development of new productive forces

Opening-up is the soil for innovation, and high-level opening-up plays an important role in accelerating the formation of new quality productive forces. Jin Ruiting said that under the new situation, it is of great practical significance to accelerate the development of new quality productive forces by expanding high-level opening up to the outside world.

First, through international scientific and technological cooperation, we will gather strong momentum for new quality productivity. Scientific and technological innovation can give birth to new industries, new models and new kinetic energy, and is the core element of the development of new quality productive forces. International scientific and technological cooperation is a major trend, and through international scientific and technological cooperation, scientific and technological exchanges and knowledge sharing can be realized, so as to achieve the purpose of optimizing the innovation environment and gathering innovation resources. Under the new situation, the mainland will integrate into and integrate with the global scientific and technological innovation network with a more open attitude, which will inject inexhaustible momentum into the cultivation and development of new quality productive forces.

The second is to create a good ecology for new productivity through personnel exchanges and cooperation. At present, the strategic value of talents has been valued by all countries, and the allocation and introduction of talents with global thinking, through the improvement of the intergovernmental innovation dialogue mechanism, vigorously promote non-governmental scientific and technological cooperation and other major measures, deeply participate in global scientific and technological governance, gather talents from all over the world and use them, and fully stimulate the enthusiasm, initiative and creativity of scientific research personnel, which will create a good environment for the cultivation and development of new quality productivity.

Third, through investment, economic and trade cooperation, it will provide an important guarantee for new quality productivity. The relations of production must be commensurate with the requirements of the development of the productive forces. To develop the new-quality productive forces, it is necessary to deepen the reform of the economic system and the scientific and technological system, and strive to break through the blockages that restrict the development of the new-quality productive forces. Among them, it is necessary to take the initiative to connect with high-standard international economic and trade rules and steadily expand institutional opening-up, which can also provide institutional guarantee for the cultivation and development of new quality productive forces.

The three-pronged cooperation empowers China to move towards "new" forces

In the first quarter, the development of new quality productivity showed outstanding new results in some industries, business activities and products. According to data from the National Bureau of Statistics, the output of new energy vehicles increased by 29.2% in the first quarter of this year on the basis of rapid growth in previous years. In the first quarter, the output of charging piles, 3D printing equipment and electronic components increased by 41.7%, 40.6% and 39.5% year-on-year respectively. On the whole, new industries have developed rapidly, and new products have been cultivated at an accelerated pace, maintaining a rapid growth rate.

In the next step, in the process of expanding high-level opening up, in what other areas will the mainland focus on to accelerate the development of new productive forces? Jin Ruiting said that the mainland will focus on promoting international cooperation in science and technology, personnel exchanges, investment, economy and trade, and accelerate the empowerment of new quality productivity.

Specifically, in terms of international scientific and technological cooperation, we will further implement international scientific and technological cooperation plans under the new situation, and support national scientific and technological projects such as foreign-invested enterprises and foreign-funded R&D institutions established in China. We will continue to implement the Belt and Road Science and Technology Innovation Action Plan, strengthen innovation partnerships, promote more benefits for people of all countries, and promote the high-quality development of the Belt and Road Initiative.

In terms of personnel exchanges and cooperation, we will focus on optimizing policies such as visa and customs clearance, continue to optimize payment services, and improve the convenience of payment for overseas personnel coming to China. The "Opinions on Further Optimizing Payment Services and Improving Payment Convenience" issued not long ago indicates that it will focus on key areas and key links such as bank card acceptance and cash use, and implement precise policies and targeted efforts to better meet the diverse payment service needs of foreign people and other groups in China, which is of great significance for solving the worries of foreign investors.

In terms of investment, economic and trade cooperation, the mainland will speed up the issuance of the 2024 version of the negative list for foreign investment access, completely remove the restrictions on foreign investment access in the manufacturing sector, and relax market access for service industries such as telecommunications and medical care. At the same time, we will encourage and guide foreign investment in specific industries, fields and regions, coordinate the construction of landmark and major foreign-funded projects, strengthen the protection of various elements, and vigorously promote the development, openness, circulation and use of data.

China has injected stable impetus into world economic growth

At present, the world economic recovery is sluggish, and the international situation is chaotic. Against this backdrop, the question of how China will cultivate and develop new productive forces and what benefits it will bring to the world economy has attracted much attention at home and abroad.

"China has become the main stabilizer and power source of world economic growth, and actively cultivating and developing new quality productive forces will not only benefit itself, but also inject more and stronger impetus into the world economic recovery and growth." Jin Ruiting said that China's expansion of high-level opening up to the outside world to accelerate the development of new quality of productive forces will have three main impacts on global economic development.

First, it will provide massive global demand. China is one of the few super-large-scale domestic demand markets in the world, and China's industrialization and urbanization process is far from over. Therefore, whether it is the process of new industrialization and urbanization, or large-scale equipment renewal and trade-in of consumer goods, or the comprehensive transformation from dual control of energy consumption to dual control of carbon emissions, it will release huge market demand and create huge dividends for Chinese and foreign enterprises.

Second, it will stabilize the global supply and demand system. China is the only country in the world that has all the industrial categories listed in the United Nations Industrial Classification, and the output of more than 200 of the more than 500 major industrial products ranks first in the world. Therefore, whether it is the upstream, midstream or downstream of the industrial chain, or labor-intensive, technology-intensive, capital-intensive industries, or traditional industries, emerging industries, and future industries, we can find the best partners in China.

Third, it will create huge business opportunities. According to the International Monetary Fund's calculations, every 1 percentage point increase in China's economic growth rate will drive the economic growth rate of China-related countries and regions to increase by about 0.3 percentage points. From 2024 to 2028, China's import and export volume of trade in goods and services is expected to exceed US$32 trillion and US$5 trillion. The Chinese market is the world's market, a shared market, and a market for everyone.

"When the world is good, China will be good; If China is good, the world can be better. Jin Ruiting said that China will accelerate the development of new quality productive forces by expanding high-level opening-up, which will inject greater stability into the global economic recovery and development. (People's Daily reporter Xu Weina and intern Zhang Yichi also contributed to this article)