Nation to maintain momentum as
Premier Li Keqiang, delivering the Government Work Report on Tuesday at the second session of the 13th National People’s Congress, said China will continue to promote opening-up and build international economic cooperation and competition.
Li said China will open more sectors and improve the opening-up process based on the flow of goods and factors of production, and give greater emphasis to opening-up based on rules and related institutions.
China will make concerted efforts to maintain stable trade growth and attract more foreign investment, Li said. The country will not only strive to diversify export markets and actively expand imports but also relax controls over market access and permit wholly foreign-funded enterprises to operate in more sectors, Li said.
He added that the country will align its policies with international trade rules, enhance policy transparency and consistency in implementation and create a fair market environment where Chinese and foreign companies are treated equally.
Wei Jianguo, vice-president of the China Center for International Economic Exchanges, said, “China’s continued push to further open up the economy will advance domestic economic prosperity while injecting fresh vitality into the global economy.”
More concrete measures in opening-up can facilitate foreign companies’ operations in China and thus strengthen their confidence in the market, Wei said.
Andrew Weir, vice-chairman of
KPMG China, said, “Opening up the economy is good for business. More sectors are opening up. Protection continues to develop and this will boost the attractiveness to foreign companies.”
Commenting on the economy’s shift from high-speed to high-quality growth, Weir said China’s economy is still growing quickly compared with other major economies and is now more consumption-driven and technology and service oriented, which will offer major opportunities.
“We remain positive in the long term about the economy and its opportunities,” Weir added.
On Tuesday, Li said China will accelerate the establishment of a network of high-standard free trade areas and advance negotiations on trade and investment agreements.
The country will continue to push forward China-US trade negotiations, he said, adding that China is committed to mutually beneficial cooperation and striving to settle trade disputes through discussions in an equal manner. He stressed that the country is resolute in safeguarding its lawful rights and interests.
News reports suggested that China and the United States are moving toward ending their trade standoff. Many analysts say they can see a return of positive market sentiment, although they note that uncertainties remain given the complexity of the issues.