Chinese premier stresses expanding opening-up

Premier Li Keqiang has reiterated China’s stance that it will unswervingly expand its opening-up and continue to make the country a big market for the world and a hot spot for foreign investment. Xinhua said on Friday

Li made the remarks during a symposium on the 70th anniversary of the China Council for the Promotion of International Trade (CCPIT), which was held in Beijing on Thursday.

The symposium was attended by representatives from nearly 30 institutions and multinational companies, including U.S.-China Business Council, the London-based 48 Group Club, Korea Trade-Investment Promotion Agency, Malaysia-China Business Council, European Union Chamber of Commerce in China, the Japanese Chamber of Commerce and Industry in China and the American Chamber of Commerce in China.

The premier underscored the key role of international trade in satisfying and complementing various needs of all countries, promoting global economic growth, and supporting endeavors to overcome difficulties and challenges.

Noting the impacts of the complicated international situation, COVID-19 and geopolitical conflicts on global trade and people’s well-being, Li said China is ready to work with other countries to safeguard the rules-based multilateral trading system with the World Trade Organization as the core.

China will adhere to free and fair trade, advance trade and investment liberalization and facilitation, and keep the stability and smooth flow of the global industrial and supply chains to maintain international and regional peace, stability, development, and prosperity, said Li.

Noting that China’s economy has been deeply integrated with the rest of the world, Li said China still needs to expand imports of equipment, raw materials and agricultural products, while learning from advanced experience and knowledge to develop its high-end manufacturing and modern service industries.

China’s enormous market potential also means massive space for various investments, he said.

The premier pledged to strengthen communication and cooperation with foreign businesses to seek understanding and common ground, and properly deal with disputes and differences to achieve mutually beneficial cooperation.

Regarding the current COVID-19 impacts on foreign businesses’ activities in China, Li said China had taken active measures to coordinate and solve the problems in areas such as production resumption, personnel entry, and logistics, pledging more efforts to optimize the policies.

He emphasized that China will continue to deepen administrative reforms, make clear the regulatory rules that are transparent, stable, and predictable, further liberalize market access, guarantee equal access of foreign enterprises to areas that have opened up under the law, and strictly protect intellectual property rights.

Founded in 1952, the CCPIT has played a significant role in strengthening the bond of interest between Chinese and foreign businesses and promoting international economic and trade exchanges.

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