Experts speak highly of China's opening up wider to world

Updated: November 19, 2021 Source: Xinhua News Agency
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BEIJING, Nov. 18 (Xinhua) -- China's strong economic resilience and active improvement of business environment will bring more impetus to global economic recovery, and China's opportunities are also opportunities for the world, overseas experts say.

In recent years, the trend of de-globalization and rising trade frictions have put obstacles in the way of the world economic development and international cooperation, and the COVID-19 pandemic has made them worse. Facing great challenges, China, as the largest and most dynamic emerging economy, has always demonstrated its firm determination to open up wider to the world.

China will unswervingly expand its opening-up and create a business environment that is market-orientated, law-based and up to international standards, Chinese Premier Li Keqiang made the remarks while attending a special virtual dialogue with global business leaders hosted by the World Economic Forum on Tuesday, which boosted the confidence of overseas business communities.

Ronnie Lins, director of the China-Brazil Center for Research and Business, said China's rapid development has promoted the world economy and provided other countries with opportunities to get rich together.

China is committed to reform and opening-up, continuously improving its business environment, opening up its vast market to the world, and establishing greater economic interaction with other countries, Lins said, adding that the just-concluded China International Import Expo is a vivid example.

Foreign business people believe that China's commitment to further opening up and promoting international cooperation in various fields and at various levels is very important for safeguarding global free trade.

Cai Weicai, senior vice president of Thailand's Kasikornbank noted that China has been a strong promoter of free trade in the world.

As the world's second largest economy, China has set an example by actively following multilateralism, opening its market to the outside world and firmly opposing trade protectionism, he said.

The global business community is reassured by China's willingness not only to promote global economic recovery and maintain the stability of industrial and supply chains, but also to embrace free trade and multilateralism as effective ways to maintain world peace, said Philippe Monnier, an international business executive and former executive director of Greater Geneva Berne Area's Economic Development Agency.

Experts think that China's adherence to market opening provides long-term investment opportunities for foreign investors.

Capital inflows into China have been very strong, with foreign investors actively investing in Chinese stocks, buying Chinese government bonds as a global reserve asset for much of the year, and foreign direct investment in China have also been growing strongly, said Mehran Nakhjavani, partner of emerging markets with research firm MRB Partners.

Daniel Haber, French economist and former adviser to the French minister of foreign trade, said that the Chinese economy is the main engine of global growth, and France and other Western economies wish a more resilient Chinese economy.

China is accelerating the development of innovative and productive industries and services, and many Chinese products and brands enjoy international renown, Haber added.

Many foreign companies have invested in China, deepened their understanding of China's economic development and benefited from market competition and cooperation, he said. 

Editor: Yu Huichen