China means business when it comes to opening up
BEIJING - A slew of substantial opening-up measures recently announced by China, covering financial, trade and investment fields, all say one thing: China intends to be more open, and means it. China announced a decision to make Hainan island a pilot free trade zone and gradually a free trade port with Chinese characteristics on Friday. A free trade port represents the highest level of opening-up. The landmark decision was immediately followed by a string of measures backing Hainan’s efforts to deepen reform and opening-up, released by the central authorities Saturday. China delivers on its promises and vows to significantly broaden market access. The measures include easing foreign equity restrictions in the industries of automobiles, ships and aircraft, significantly lowering the import tariffs for automobiles and reducing import tariffs for some other products. A timetable for further opening the financial sector was also disclosed by central bank governor Yi Gang during the Boao Forum for Asia annual conference in Hainan Province from April 8 to 11. Such major moves to facilitate trade and liberalize investment have been widely appreciated, and will add certainty and momentum to the global economy, which is beset by the headwinds of rising protectionism. They underline the fact that China is committed to further opening up the country to the world through its actions. The new actions in opening-up should put an end to doubts about the country’s resolve to continue marketoriented reforms. Obviously, such planned moves have sent a strong message that China is firmly advancing reform and opening up at its own pace. They are also part of efforts to turn the spirit of the 19th Communist Party of China (CPC) National Congress into action. With opening-up a fundamental national policy, China has made significant development achievements over the past 40 years, becoming the world’s second largest economy and currently contributing about one-third of world growth. On course to achieving a “moderately prosperous society” by 2020 and a great modern socialist country by the middle of the century, China is determined to make new ground in pursuing opening-up on all fronts as the nation pursues high-quality development and develops a modern economy. As this year marks the 40th anniversary of reform and opening-up, China will launch a number of landmark opening-up measures. In today’s world of multi-polarization and economic globalization, it is right and wise for countries to seek opening-up and winwin cooperation for common development. After all, cutting deficit in peace, development and governance needs development, cooperation and dialogue. A Cold War mentality, unilateralism and protectionism, are all against the tide of history, and bring nothing good to world peace, development or improving global governance. (Xinhua)