Chinese President Xi Jinping emphasized the implementation of new systems for a higher-standard open economy and the proactive elevation of the country’s opening-up to a new level, as reported by Xinhua News Agency. During a meeting of the central commission for deepening overall reform, President Xi highlighted the importance of institutional opening-up and deepening reforms in key areas such as investment, trade, finance, and innovation.
The meeting acknowledged the complex and challenging international situation China currently faces, emphasizing the need to enhance the top-level design for a higher-standard open economy, deepen institutional reforms in trade and investment, expand market access, and optimize the business environment comprehensively.
Analysts noted that President Xi’s remarks convey a strong message in support of increased international exchanges and cooperation, while rejecting unilateralism and protectionism observed in certain countries.
Despite Western countries’ attempts to disrupt China’s efforts, China has maintained a mutually beneficial and win-win opening-up strategy, according to Cong Yi, a professor at the Tianjin University of Finance and Economics. Cong highlighted China’s commitment to broadening cooperation and increasing its openness, as evidenced by the visits of foreign executives, including Bill Gates, Elon Musk, and Tim Cook, seeking greater collaboration.
In addition to opening-up, the meeting emphasized the improvement of national security systems and mechanisms and the strengthening of supervision in opening-up. China also expressed its intention to actively participate in the reform and construction of the global governance system, aligning it with the Belt and Road Initiative.
Several documents were reviewed and approved during the meeting, covering areas such as building new systems for a higher-standard open economy, deepening rural reform, carbon emissions control, reforming salary systems at universities and research institutes, enhancing national oil and gas supply security, and institutional reform in the electricity sector.
These priorities reflect China’s commitment to pursuing high-quality development while addressing external risks and challenges. The focus on reforming compensation systems in educational and research institutions aims to stimulate basic research and major technological breakthroughs.
The meeting of the Central Commission for Comprehensively Deepening Reform, the second under the 20th Communist Party of China Central Committee, follows the earlier focus on innovation and support for the private economy during the first meeting held in April.