(Economic Observation) Where is China's opening up under the "double cycle" pattern?
China News Agency, Beijing, August 26 (Reporter Wang Enbo) Since the proposal to promote the formation of a new development pattern with the domestic big cycle as the main body and the domestic and international double cycles mutually promoting each other, the pace of China's opening up has attracted much attention.
Xi Jinping, General Secretary of the CPC Central Committee, President of the State, and Chairman of the Central Military Commission recently hosted a symposium of experts in economic and social fields in Zhongnanhai and delivered an important speech. He reiterated at the meeting that "the new development pattern is by no means a closed domestic cycle" and emphasized the need to "open up to the outside world at a high level to create new advantages in international cooperation and competition."
Analysts believe that under the "dual cycle" pattern, China's future economic expansion will target three directions.
First, China will be more determined to expand its opening up.
"Closed will lag behind. This is true for any country." Zheng Yongnian, Dean of the Institute for Advanced Studies in Global and Contemporary China at the Chinese University of Hong Kong (Shenzhen), told a reporter from China News Agency that China should insist on truly opening up to the outside world and allowing enterprises Competing on the international stage is the best way to enhance strength and competitiveness. It can also allow all parties to maintain mutual understanding and build a foundation for mutual trust, consensus and cooperation.
As he said, with a consistent attitude of openness and an orderly restoration of economic order, foreign capital continues to be optimistic about the Chinese market, continues to enter China's economic internal circulation system, and promotes the establishment of an internal and external circulation system.
According to a survey conducted by the Ministry of Commerce, 99.1% of foreign-funded enterprises said they would continue to invest and operate in China. According to the announcement of the National Development and Reform Commission, in the first half of the year, a total of 164 Chinese-funded enterprises issued 264 medium- and long-term bonds abroad, totaling US$103.31 billion. The overall performance is "strong resilience, low cost, multiple types, and excellent structure", and has a prominent role in serving the real economy. Realized the improvement of quality and efficiency.
Although the international community has many concerns about the prospect of economic globalization, China still firmly says no to "decoupling." In early September, the 2020 China International Trade in Services Fair will be held in Beijing. This event is regarded as a positive signal for China to adhere to economic globalization and strengthen international economic and trade cooperation, and will help companies strengthen international exchanges, obtain new orders, and expand New markets provide platforms.
Second, China will create a more resilient opening.
Liu Shijin, deputy director of the Economic Committee of the National Committee of the Chinese People's Political Consultative Conference, pointed out at a meeting held by China News Agency that the current process of globalization has experienced some twists and turns. He bluntly said that some countries do not want to open up, but the world is huge and the market is still very broad.
In addition, how to enhance the ability of supervision and risk prevention and control while opening up, and how to cultivate the "immortality of the King Kong" is also a must-answer question. Liu Shijin believes that the current globalization is facing an adverse trend and is abnormal, and people should have confidence in its long-term development. But at the same time, China must also build an open model that is more resilient, resilient, and impact-resistant, so as to effectively deal with problems such as supply cuts.
In this regard, Xiaojuan Changjiang, School of Public Administration, Tsinghua University, suggested establishing and improving the foreign investment national security review, anti-monopoly review, national technology security list management, unreliable entity list and other systems to ensure national security in opening up.
Third, China will promote institutional opening.
Under the "double cycle" pattern, the huge domestic market potential that China has yet to tap will also provide opportunities for other economies. This makes China increasingly a huge gravitational field for attracting international commodities and factor resources.
However, Jiang Xiaojuan reminded that the accelerated global flow of various production factors has also made competition among countries increasingly become competition in institutions, governance, and services. To achieve institutional openness is to change the situation of frequent adjustments to open policies in the past years. In the future, China's various open policies, rules, management, standards, etc. will be relatively stable and predictable. To create a good legal environment, business environment, innovation environment, ecological environment, digital environment, etc.
This year, the Foreign Investment Law and the Regulations on Optimizing the Business Environment have been formally implemented, and the negative list of foreign investment access continues to be "slim". These are important footnotes to China's promotion of rule-based and system-based opening.
Observations believe that China's strengthening of institutional and structural arrangements, with its own openness, leads and promotes mutual openness and common openness among countries in the world, and actively participates in global governance and economic and trade cooperation, which will create conditions for promoting the building of a community with a shared future for mankind. (Finish)