45th Anniversary of Reform and Opening Up
The reform and opening up has been key to the rapid development of China over the past four decades and a decisive factor in the success of Chinese modernization in contemporary times. The year 2023 marked the 45th anniversary of China’s reform and opening up. The country strived to promote high-quality development and highlevel opening up, continued to create a market-oriented, law-based and internationalized business environment, and steadily expand institutional openness in terms of rules, regulations, management, and standards, including implementation of the Foreign Investment Law and a shortened negative list for foreign investment. China fully implemented the Regional Comprehensive Economic Partnership agreement and the Comprehensive and Progressive Agreement for Trans-pacific Partnership. As a major trading partner of more than 140 countries and regions, China continued to fulfill its commitment to further opening up by hosting a number of expos in 2023, including the China International Consumer Products Expo, China International Fair for Trade in Services, Canton Fair, China International Import Expo, and China International Supply Chain Expo.
China’s door will not close and will only open wider. More than 1.4 billion Chinese people embracing modernization presents a great development opportunity for the world.
“Against a backdrop of sluggish world economic recovery, China realized important breakthroughs in comprehensively deepening reform and opening up. These advancements will bolster sustainable economic growth in the medium and long term and exert a major impact on global economic growth and economic rebalancing. These advancements will also accelerate the process of making China a modern economic heavyweight and promote a new round of economic globalization.”
—Chi Fulin, president of the China Institute for Reform and Development