China's commitment to opening-up, multilateralism injects certainties into world economy

Source:Xinhua Published: 2019/6/29 19:11:18

As the global economy trudges through mounting instability and risks, China is pumping more certainties into it, with a dedication to expanding opening-up and upholding multilateralism.

At the G20 Osaka summit commencing Friday, China declared its latest pledge that it would further open up its market, proactively expand imports, continuously improve its business environment for foreign enterprises and press ahead with various trade agreement negotiations.

It is encouraging to see that China, the world's second largest economy, has reaffirmed its determination to push forward inclusive economic development and defend the multilateral trading system.

Actions always speak louder than words. Recent years have seen consistent efforts of China to promote openness, support multilateralism and strive for common development.

A case in point is the China-proposed Belt and Road (B&R) Initiative, under which China has signed cooperation documents with more than 150 countries and international organizations, effectively spurring trade and economic growth, stimulating investment and creating jobs.

Trade cooperation thrives under the initiative, with bilateral trade volume between China and the countries participating in the B&R Initiative growing 9 percent year on year in the first five months of this year.

To provide overseas investors with stronger protection and a better business environment, the country has approved a landmark foreign investment law which will come into effect next year. It has also encouraged foreign investment in the advanced manufacturing and modern service industries.

Continuing to serve as a stabilizer to the world economy, China will stay committed to its opening-up policy in support of a more inclusive world economy and broader cooperation for the benefits of all.

Posted in: ECONOMY

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