Minister of Commerce Wang Wentao has outlined a host of prioritized measures aimed at opening the Chinese market wider to the outside world.
Wang made the remarks in an interview with Xinhua after the 20th Communist Party of China (CPC) Central Committee’s third plenary session, which was held earlier this month, stressing that opening up is a defining feature of Chinese modernization.
To implement the strategic plans made at the CPC plenum, China’s commerce authorities will move to promote the country’s alignment with high-standard international economic and trade rules, and harmonize rules, regulations, management and standards relating to property rights protection, industrial subsidies, environmental standards, labor protection, government procurement, e-commerce, and the financial sector, Wang stated.
China will unilaterally open its doors wider to the world’s least developed countries, actively participate in the reform of global economic governance, safeguard the WTO-centered multilateral trading system, and expand its globally oriented network of high-standard free-trade areas, he noted.
A report issued last week by the China Council for the Promotion of International Trade showed that in the second quarter of this year, more than 40 percent of surveyed foreign-funded enterprises said that the attractiveness of the Chinese market had increased in terms of future investment confidence.
As for cooperation under the Belt and Road Initiative (BRI), China will redouble efforts to develop multilateral platforms for cooperation on green development, artificial intelligence, the digital economy, energy, taxation, finance and disaster mitigation, among other areas, Wang said.
Wang said that China will work to conclude free-trade agreements and investment protection pacts with more countries under the BRI
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