Apple News Facebook Twitter 新浪微博 Instagram YouTube Friday, Nov 8, 2019
Search
Archive
English>>

China to benefit global economy with further open up policies

By Kou Jie ()    09:37, November 06, 2019

Four decades after China first announced its decision to open up to the world, the once insignificant player on the global economic stage is now ranked first in terms of contribution to world economic growth. The nation now aims to mull over more measures to further open its economy, promoting high-quality development of trade and two-way investment.

According to statistics from China's National Bureau of Statistics, before China's opening up, the country's average annual contribution to global economic growth was only 1.1 percent. However, from 1979 to 2012, the average yearly contribution rate shot up to 15.9 percent. In 2018, the ratio of China's contribution to global economic growth was 27.5 percent, 24.4 percentage points higher than in 1978.

"Thanks to its opening-up policies, China has made continuous progress and breakthroughs in trade development. In the future, China must advance high-quality economic development under conditions of deeper opening up, bolstering the development of the global economy," Qian Keming, vice-minister of commerce, said at the China Forum in October.

China's opening up has also provided opportunities for its trade partners. The country has now become the biggest trade partner of over 120 countries and regions worldwide, while the average annual growth of its foreign direct investment reached 25.2 percent in 2018, nearly three times its global counterparts.

"China has made great efforts to open more fields up to foreign investment, as well as creating a better business environment for foreign enterprises. My country welcomes such gestures, and we hope Japanese enterprises can contribute to China's high-standard opening up in the future," said Hideo Ishizuki, minister of the economic section of the Japanese Embassy to China.

Ishizuki further noted that China's opening up had entered a new phase of high-standard and high-quality development, while further international cooperation is needed to bolster the growth of the global economy.


【1】【2】【3】

(For the latest China news, Please follow People's Daily on Twitter and Facebook)
(Web editor: Kou Jie, Bianji)

Add your comment

Most Read

Hot News

We Recommend

Photos

prev next
香港马会资枓大全2019 bt365手机官网 二四六天天好彩免费资枓 香港马会免费资枓大全 香港马会免费开奖资枓 香港开奖结果2019+开奖记录 香港开奖结果2019+开奖记录图库 王中王鉄算好开奖结果 开奖特马料 2019开奖特马料 四肖三期内必出特2019 香港开奖结果2019+开奖记录表 四肖三期必開 今日特马结果 外围买球app 香港正马会资料 四肖三期必開