Schol­ars out­line keys for progress

China Daily (Latin America Weekly) - - Front Page - By BU YINGNA, XIN XIN and MA ZHIPING in Haikou

China’s strong de­ter­mi­na­tion to per­sist with re­form and open­ing-up will usher in more pros­per­ity for its 1.3 bil­lion pop­u­la­tion and also ben­e­fit the rest of the world, schol­ars said at a fo­rum over the week­end.

They agreed that de­vel­op­ment of the real econ­omy, boost­ing do­mes­tic consumption and con­tin­u­ous in­te­gra­tion into glob­al­iza­tion should be the key.

The schol­ars ex­pressed the opin­ions at an in­ter­na­tional fo­rum hosted by the China In­sti­tute for Re­form and De­vel­op­ment in Haikou, Hainan prov­ince.

Dur­ing his re­cent tour to Guang­dong prov­ince, Pres­i­dent Xi Jin­ping vowed that China will not wa­ver from its re­form and open­ing-up drive, say­ing that the cam­paign will ben­e­fit the whole world.

Chi Fulin, pres­i­dent of the China In­sti­tute of Re­form and De­vel­op­ment, said at the fo­rum: “When we mark the 40th an­niver­sary of China’s re­form and open­ing-up, we are not only re­view­ing past achieve­ments. More im­por­tantly, we are seek­ing fur­ther de­vel­op­ment and pros­per­ity, with a sense of ur­gency.”

Chi said China be­gan en­ter­ing its late stage of in­dus­tri­al­iza­tion in order to pro­mote the up­grad­ing of the man­u­fac­tur­ing sec­tor, and the key is to im­prove the de­vel­op­ment of the real econ­omy.

He said sup­ply-side struc­tural re­form pri­or­i­tiz­ing the open­ing of the ser­vice in­dus­try will un­leash the po­ten­tial of huge do­mes­tic de­mand.

“And, in the face of the new stage of open­ing-up and new changes in eco­nomic glob­al­iza­tion, we must firmly pro­mote full open­ing-up, which makes free trade a core con­stituent,” Chi said.

The two-day fo­rum at­tracted about 500 schol­ars, of­fi­cials and en­trepreneurs and other par­tic­i­pants, from 12 coun­tries.

Xiao Geng, pres­i­dent of the Hong Kong In­sti­tute for In­ter­na­tional Fi­nance, said in the next stage of re­form and open­ing-up, the guar­an­tee of na­tional se­cu­rity, hap­pi­ness of the cit­i­zenry and proper con­struc­tion of the fu­ture in­ter­na­tional order should be the three main goals.

“Fur­ther­more, in the fu­ture, to see whether we achieve suc­cess or not, we should check out if we are at­trac­tive enough to bring in tal­ent and cap­i­tal,” Xiao added.

Shen Danyang, vice-gov­er­nor of Hainan prov­ince, said that un­der the guid­ance of the im­por­tant speech of Pres­i­dent Xi on April 13, when Hainan marked its 30th an­niver­sary as a spe­cial eco­nomic zone, the prov­ince will make every ef­fort to trans­form it­self into a new bench mark of re­form and open­ing-up in the new era.

He said the op­por­tu­ni­ties of con­struct­ing free trade pi­lot zones and free trade ports on the is­land, which Xi an­nounced in Hainan in April, should be grasped.

“We will ex­plore con­struc­tion of free trade ports with Chi­nese char­ac­ter­is­tics by creat­ing a con­ve­nient busi- ness en­vi­ron­ment and ac­cel­er­at­ing the es­tab­lish­ment of a mech­a­nism that is in line with in­ter­na­tional trade rules,” Shen said.

At­sushi Ijuin, lead econ­o­mist at the Ja­pan Cen­ter for Eco­nomic Re­search, wel­comed the mas­sive co­op­er­a­tion among North­east Asian coun­tries. He said that glob­ally, pro­tec­tion­ism is on the rise, and re­gion­ally the ten­sion on the Korean Penin­sula has been eased.

“The three coun­tries of China, Ja­pan and South Korea should sign high-qual­ity trade agree­ments as soon as pos­si­ble,” he said.

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