China should do a better job in opening up by "bringing in" and "going out", Jiang Zemin said in his report to the 16th National Congress of the Communist Party ofChina (CPC) Friday morning.
In response to the new situation of economic globalization and China's entry into the WTO, China should take part in international economic and technological cooperation and competition on a broader scale, in more spheres and on a higher level, make the best use of both international and domestic markets, optimize the allocation of resources, expand the space for development and accelerate reform and development by opening up, he said.
China should implement the strategy of market diversification, bring into play its comparative advantages and strive to increase exports by ensuring good quality, he added.
"We should attract more foreign direct investment and use it more effectively," Jiang said.
He also said that it is necessary to encourage and help relatively competitive Chinese enterprises with various forms of ownership to invest abroad in order to form a number of strong multinational enterprises.