Opening-up to boost quality growth B2
China now a key global innovation hub, says CBBC boss
China’s opening-up in the financial sector is approaching a higher level and will further help the country enhance core competitive competence in the industry so that it can contribute more to the real economy, the Xinhua News Agency reported on Thursday.
China’s focus on high-quality economic growth through reform and opening-up, which was highlighted in the Government Work Report that Premier Li Keqiang delivered at the opening meeting of the ongoing 13th National People’s Congress, will bring more exciting opportunities for partnership between the UK and Chinese companies, a UK business leader said.
The China-Britain Business Council (CBBC) warmly welcomes the emphasis in the work report on promoting high-quality economic growth through ongoing reform, the opening-up of new market sectors to foreign business and strong risk management, said Matthew Rous, chief executive of the CBBC.
“We look forward to helping UK companies to take up new opportunities in sectors including financial services, healthcare and education,” Rous told the Global Times on Tuesday.
China is still a popular destination for foreign investment, Minister of Commerce Zhong Shan said on Sunday at a press conference on the sidelines of the annual legislative session.
He cited a World Bank report, which said that China had moved up 18 places in the global rankings for ease of doing business in the past five years.
China will continue to open up its market to foreign investors, and the China International Import Expo, which will be held in November in Shanghai, will advance further high-level opening-up, Zhong noted.
UK firms are welcome to participate in the expo, said Yu Yuantang, deputy director general of the Department of European Affairs at China’s Ministry of Commerce, at the 6th Annual China Business Conference held in London on Wednesday.
China is rolling out practical measures to support economic globalization and trade liberalization and the expo will show the country’s determination and confidence in the new era, said Zhong.
“We are confident that the 11 pilot free trade zones and 13 comprehensive experimental zones for cross-border e-commerce, together with the shortening of negative lists, will play a big role in facilitating international business engagement in China over the coming years,” said Rous.
“British researchers and innovators can help Chinese partners to push forward new solutions in sectors such as new and advanced materials and new-energy vehicles, which will help promote environmental protection,” Rous noted.
It is encouraging to see that China’s high-tech sector has kept growing, he said, adding that this demonstrates China’s emergence as one of the world’s principal hubs for innovation. “There are exciting opportunities for partnership in areas like artificial intelligence and robotics.”
Also, as the China-proposed Belt and Road (B&R) initiative continues to gather momentum, “the CBBC has been active in promoting the benefits of cooperation in this field,” he said.