BEIJING: China on Friday announced that it will share its economic dividends with the World community under its opening up drive.
China’s political sessions have sent the world a clear message that the country will continue to deepen reforms in various fields. A more open China will play an increasingly important role on the global stage.
Forty years ago, late Chinese leader Deng Xiaoping opened the curtains on China’s reforms and opening up drive. Huge changes have taken place since then. China’s economy has grown rapidly, becoming the world’s second-largest economy. It is an engine of the world’s economy and contributes more than 30 per cent to global growth.
This year, the Chinese government set its Gross Domestic Product (GDP) growth target at around 6.5 per cent. To achieve this goal, a wide-open market is expected, allowing the country to attract more foreign investors, as well as, the chance to integrate better with the international market.
“China will further liberalize and facilitate trade and investment,” said Premier Li Keqiang while delivering a government work report at the first session of the 13th National People’s Congress (NPC), adding that China will expand imports and lower import tariffs and that the first China International Import Expo (CIIE) in November will bring even more foreign goods.
Reforms in the late 1970s resulted in the rise of Chinese eastern and coastal areas, while deepened reforms today will spread to the central and western regions to ultimately achieve common prosperity for everyone.
“As the sluggish recovery of the global economy continues, China’s persistent deepening of economic reforms will enhance its role as the driving force and stabilizer of the world economy,” said China Institute of International Studies (CIIS) analyst, Jiang Yuechun.
The neighbouring country has also shown its determination to deepen reforms in the political field.
On Tuesday, the State Council unveiled a massive Cabinet restructuring plan which was submitted to the NPC’s first session for review and is pending approval.
If passed, the Cabinet would have 15 fewer entities at the ministerial or vice-ministerial levels. The move will make the government better structured, more efficient, and service-oriented.
On Sunday, the national legislature adopted a constitutional amendment which was the first amendment to the country’s fundamental law in 14 years.
Further on, China will also advance institutional social reforms this year, covering old-age pensions, public hospitals and healthcare. More efforts will be made to boost employment, increase people’s income, eliminate poverty and reduce disparities in the urban-rural development.
In the fight against poverty, China has set a goal for over 10 million people to be lifted out of poverty in 2018. The government will pay more attention to rural areas and provide more support to areas affected by extreme poverty.