Press conference on guiding principles of the 4th plenary session of the 20th CPC Central Committee

Mo Gaoyi:

Thank you, Mr. Yin. Now, let's invite Mr. Wang to introduce China's opening up in the 15th Five-Year Plan period.

Wang Wentao:

Ladies and gentlemen, good morning. I will briefly introduce matters related to opening up.

The fourth plenary session focused on a dedicated initiative to expand on high-level opening up. This reflects the great importance that the Party Central Committee with Comrade Xi Jinping at its core places on opening up, and demonstrates China's commitment to open cooperation and mutual benefit. We may all share the following understanding:

First, opening up is an important tool to promote reform and development. In recent years, reform and opening up have reinforced one another. We have steadily reduced barriers at the border and behind the border that restrict the flow of factors, while progressively expanding institutional openness. China has led global trade in goods for eight consecutive years, and trade in services surpassed $1 trillion. Foreign investment reached its 14th Five-Year Plan target six months ahead of schedule, while outbound investment remains among the top three globally. High-level opening up has become a strong driving force for China's economic development.

Second, opening up is a broad road to developing China itself and benefiting the world. China was the primary trading partner for more than 150 countries and regions in 2024. During the 14th Five-Year Plan period, the cumulative value of goods and services imports is projected to surpass $15 trillion. Cumulative outbound investment has paid over $300 billion in taxes to host countries, while creating numerous jobs and advancing local industrialization and modernization. High-level opening up has become a great cause that benefits China and the world.

Third, opening up is a firm choice to grasp the trend and forge ahead. Although unilateralism and protectionism are increasing, economic globalization continues to be the dominant historical trend. China is steadfast in its opening up. It is continuously improving the China International Import Expo, and pursuing opening up experiments in pilot free trade zones. As a responsible major developing country, China has stated it will not seek new special and differential treatment in WTO negotiations, but will promote shared openness through its own opening-up efforts, injecting certainty and positive energy into the world.

The recommendations outline key deployments in four areas for opening-up work during the 15th Five-Year Plan period.

First, we should take the initiative to open China wider. Our opening up caters to both China's needs and the world's expectations. We must actively align with international high-standard economic and trade rules, focus on the service industry, and expand market access and open sectors. Focusing on expanding the circle of friends in trade and economy, we will accelerate regional and bilateral trade and investment agreements and expand the network of high-standard free trade zones. We will focus on creating a new hub for opening up, and conduct various open pilot tests and trials.

Second, we should promote the innovative development of trade. The recommendations include deployments for the three pillars of a strong trading nation, which are trade in goods, trade in services, and digital trade. For trade in goods, the plan will expand intermediate goods and green trade, promote market diversification, and integrate domestic and foreign trade. For trade in services, we will improve the cross-border services negative list management framework. In digital trade, it will enhance openness in the digital sector in an orderly manner. Meanwhile, we should promote balanced import and export growth, intensify efforts to expand imports, and meet both industrial upgrading and transformation needs as well as people's demand for a better life.

Third, we should create greater space for two-way investment cooperation. We will strengthen the "Invest in China" brand, creating new advantages to attract foreign investment and implement policies that balance market access and business operations. This will foster a transparent, stable, and predictable institutional environment. We will effectively manage outbound investment, improve the comprehensive overseas service system, and guide the rational and orderly cross-border arrangements for production and supply chains. We look at both GDP and GNI, and value both the "Chinese economy" and the "Chinese people's economy."

Fourth, we should pursue high-quality Belt and Road cooperation. The Belt and Road Initiative is not a "solo" but a "chorus." We need to strengthen strategic alignment with partner countries, coordinate and promote major landmark projects and consider the "small and beautiful" livelihood projects. This deepens the pragmatic cooperation in trade, investment, industry and culture, whilst expanding the cooperation in green, digital, and artificial intelligence fields.

General Secretary Xi Jinping emphasized that in the past our opening up was "keeping pace," but now it is about "leading the way." We will advance the implementation of diverse decisions and arrangements outlined in the recommendations, continuously enhance openness, and broaden the development space for Chinese modernization.

That concludes my introduction. Thank you.