The continuous advancement of high-level opening up to the outside world reveals China's economic development towards "new" forces

Release time:May 11, 2024 17:28 PM

Editing and videography: People's Daily reporter He Meng and Wei Qingcheng

●Promoting reform and development through opening up is an important magic weapon for my country's development to continuously achieve new achievements.

●If the world is good, China will be good; if China is good, the world will be better.

●Accelerating the development of new productive forces by expanding high-level opening up to the outside world will allow more foreign companies to invest in China, deepen their cultivation in China, and win in China.

At present, from scientific research institutes to the front lines of industry, all parts of the country are cultivating and developing new productive forces, seeking "quality" from "new". Not long ago, economic data for the first quarter were released. The eye-catching data growth highlights the "new" meaning of China's economic development: in the first quarter, the added value of high-tech manufacturing above designated size increased by 7.5% year-on-year, and the high-tech service industry continued to maintain rapid growth. The added value of the information transmission, software and information technology services industry increased by 13.7%.

The data in the first quarter are full of "newness". How to further stimulate the "newness" of China's economy? "Promoting reform and development through opening up is an important magic weapon for my country's development to continuously achieve new achievements." Recently, Jin Ruiting, director and researcher of the Institute of Foreign Economics of the National Development and Reform Commission, said when he was a guest on "China Economic Micro-Observation·Expert Talk", through Expanding high-level opening up to the outside world and accelerating the development of new productive forces will allow more foreign companies to invest in China, deepen their cultivation in China, and win in China.

High-level opening up to the outside world escorts the development of new productive forces

Openness is the soil for innovation, and high-level opening up plays an important role in accelerating the formation of new productive forces. Jin Ruiting said that under the new situation, by expanding high-level opening up to the outside world and accelerating the development of new productive forces, it has three major practical significances.

First, through international scientific and technological cooperation, we can gather strong momentum for new productive forces. Scientific and technological innovation can give birth to new industries, new models, and new driving forces, and is a core element in developing new productive forces. International scientific and technological cooperation is a major trend. Through international scientific and technological cooperation, scientific and technological exchanges and knowledge sharing can be achieved, thereby optimizing the innovation environment and gathering innovative resources. Under the new situation, my country has integrated into and connected with the global scientific and technological innovation network with a more open attitude, which will inject inexhaustible momentum into the cultivation and development of new productive forces.

The second is to create a good ecosystem for new productivity through personnel exchanges and cooperation. At present, the strategic value of talents is valued by all countries. They allocate and introduce talents with a global mindset. Through major measures such as improving intergovernmental innovative dialogue mechanisms and vigorously promoting non-governmental scientific and technological cooperation, we deeply participate in global scientific and technological governance and gather talents from all over the world. Fully stimulating the enthusiasm, initiative and creativity of scientific researchers will create a good environment for the cultivation and development of new productive forces.

The third is to provide an important guarantee for new productivity through investment and economic and trade cooperation. Production relations must adapt to the requirements of productivity development. To develop new productive forces, we must deepen the reform of the economic system, scientific and technological system, etc., and strive to clear up the blockages that restrict the development of new productive forces. Among them, it is necessary to proactively align with high-standard international economic and trade rules and steadily expand institutional openness, which can also provide institutional guarantees for the cultivation and development of new productive forces.

In the first quarter, the development of new productivity showed eye-catching new results in some industries, business activities, and products. According to data from the National Bureau of Statistics, new energy vehicle production increased by 29.2% in the first quarter of this year based on the rapid growth in previous years. In the first quarter, the output of charging piles, 3D printing equipment, and electronic component products increased by 41.7%, 40.6%, and 39.5% respectively year-on-year. Generally speaking, new industries are developing rapidly, new products are being cultivated at a faster pace, and growth rates are maintained at a rapid pace.

In the next step, in the process of expanding high-level opening up to the outside world, in what areas will my country focus on promoting the accelerated development of new productive forces? Jin Ruiting said that my country will focus on promoting international cooperation in science and technology, personnel exchanges, investment and economy and trade to accelerate and empower new productive forces.

Specifically, in terms of international scientific and technological cooperation, the international scientific and technological cooperation plan under the new situation will be implemented in depth and support national science and technology plan projects such as foreign-invested enterprises and foreign-funded R&D institutions established in China. We will continue to implement the “Belt and Road” science and technology innovation action plan, strengthen innovation partnerships, promote innovation results to benefit people of all countries, and promote the high-quality development of the “Belt and Road”.

In terms of personnel exchanges and cooperation, we will focus on optimizing policies such as visa and customs clearance, continue to optimize payment services, and improve the convenience of payment for overseas personnel coming to China. The "Opinions on Further Optimizing Payment Services and Improving Payment Convenience" issued not long ago stated that it will focus on key areas and links such as bank card acceptance and cash use, and implement precise policies and targeted efforts to better meet the needs of foreigners coming to China. This move is of great significance to solve the worries of foreign businessmen due to the diverse payment service needs of the group.

In terms of investment and economic and trade cooperation, my country will speed up the introduction of the 2024 version of the negative list for foreign investment access, comprehensively cancel restrictions on foreign investment access in the manufacturing sector, and relax market access for telecommunications, medical and other service industries. At the same time, we encourage and guide foreign investors to invest in specific industries, fields, and regions, coordinate and promote the construction of major landmark foreign investment projects, strengthen the protection of various factors, and vigorously promote the development, openness, circulation and use of data.

China injects stable impetus into world economic growth

At present, the world economic recovery is sluggish and the international situation is intertwined with chaos and events. In this context, issues such as how China cultivates and develops new productive forces and what benefits it will bring to the world economy have attracted much attention at home and abroad.

"China has become the main stabilizer and source of power for world economic growth. It actively cultivates and develops new productive forces, which not only benefits itself, but also injects more and stronger power into world economic recovery and growth." Jin Ruiting said that China has expanded its high-level Opening up to the outside world and accelerating the development of new productive forces will have three main impacts on global economic development.

First, it will provide massive demand for the world. China is one of the few large-scale domestic demand markets in the world, and China's industrialization and urbanization processes are far from over. Therefore, whether it is the process of new industrialization, urbanization, large-scale equipment updates and consumer goods trade-in operations, or the comprehensive transformation from dual control of energy consumption to dual control of carbon emissions, it will release huge market demand and create huge opportunities for Chinese and foreign companies. dividends.

The second is to stabilize the global supply and demand system. China is the only country in the world that has all industrial categories listed in the United Nations Industrial Classification. The output of more than 200 of more than 500 major industrial products ranks first in the world. Therefore, whether you are in the upstream, midstream, or downstream of the industrial chain, or in labor-intensive, technology-intensive, capital-intensive industries, or in traditional industries, emerging industries, or future industries, you can find the best partner in China.

Third, it will create huge business opportunities. According to calculations and analysis by the International Monetary Fund, every 1 percentage point increase in China's economic growth will drive an increase of approximately 0.3 percentage points in the economic growth of countries and regions associated with China. From 2024 to 2028, China's import and export volume of goods trade and service trade is expected to exceed US$32 trillion and US$5 trillion respectively. The Chinese market is a market for the world, a shared market, and a market for everyone.

"If the world is good, China will be good; if China is good, the world will be better." Jin Ruiting said that China will accelerate the development of new productive forces by expanding high-level opening up, which will inject greater stability into global economic recovery and development.

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