China eyes higher-level opening-up through cooperative platform

With a higher level of openness, China is playing an increasingly important role in promoting international cooperation and mutual benefits amid global headwinds, said experts on Friday.

Against the backdrop of escalating geopolitical conflicts, rising protectionism, and unilateralism in the fragmented world economy, advancing cooperation and realizing mutual benefit through further opening up remains a key topic of discussion, said Yi Xiaozhun, former deputy director-general of the WTO, during the latest symposium on theme and topics of the seventh Hongqiao International Economic Forum, or HQF, an important part of the China International Import Expo, in Beijing on Friday.?

"The resolute theme continues to be openness, a stance that should not waver," Yi said.

According to the World Openness Report 2023 released during the sixth HQF in November, China's openness index has risen from 0.6789 in 2008 to 0.7516 in 2022, up 10.7 percent and at the global forefront of increase, marking the country's leading role as a significant driver of global openness.

This year's forum will therefore adhere to four principles — upholding the "openness" theme while also actively responding to the new changes and trends in the global political and economic landscape; keeping up with the latest topics and frontier research; embracing inclusivity and internationalism as well as giving full considerations of opinions from all parties; showcasing China's commitment to expanding openness and proposing Chinese solutions while upholding a path with Chinese characteristics, said Yu Zirong, head of HQF research center.?

"The open world economy China seeks will eventually help promote the construction of a human community with a shared future, fostering universal prosperity for all around the world," said Zhang Yuyan, a member of the academic council at the Chinese Academy of Sciences.?

In order to achieve the goal, the Ministry of Commerce will adhere to the principle of seeking progress while maintaining stability in 2024, focusing on promoting consumption transition from post-pandemic recovery toward sustained expansion, said Tang Wenhong, assistant minister of commerce.?

"We will focus on not only commodity consumption but also the service sector, aiming to solidify the foundation of foreign trade and investment and expand high-standard opening-up," Tang said.