Shanghai business forum hears of China's renewed commitment to opening-up

China will remain committed to high-standard opening-up during the 15th Five-Year Plan period (2026-30), and share its massive development opportunities with foreign-invested enterprises across various sectors, the Ministry of Commerce said in a news release on Thursday.

At a time when unilateralism and protectionism are on the rise, a market that is fair, just and rules-based has become a scarce global resource, Vice-Minister of Commerce Ling Ji said at a roundtable with foreign enterprises during the ongoing China International Import Expo in Shanghai.

The recently adopted recommendations for the next five-year plan have enhanced the predictability of China's economic and social development for the period ahead, Ling added.

The document's emphasis on advancing high-quality development and expanding high-standard opening-up will provide greater stability and positive prospects for foreign businesses operating in China, he said.

Ling added that China will further expand market access in the service sector, advance key foreign-funded projects, ensure foreign-funded firms' equal participation in government procurement, deliver on tax incentives for reinvestment, strengthen intellectual property protection, and work to create a first-class, market-oriented, rules-based and internationalized business environment.

Foreign business representatives at the roundtable expressed their commitment to expanding long-term investments and ramping up R&D innovation in China, enhancing localization efforts, and contributing to the country's high-quality development with advanced technologies and high-standard products and services, according to the news release.

wangkeju@chinadaily.com.cn