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A more open China creates more opportunities for world economy

(Xinhua)

17:10, November 20, 2012

BEIJING, Nov. 20 (Xinhua) -- China's adherence to the basic state policy of opening up, which was underscored by the just-concluded 18th Communist Party of China (CPC) National Congress, would not only help the country prosper, but bring various opportunities to the world economy.

Since adopting the reform and opening up policy more than three decades ago, China has steadily integrated itself into the global economy.

It now has significant influence on world prosperity due to its status as the world's second-largest economy, biggest manufacturer and exporter and owner of the world's largest amount of foreign exchange reserves, and its fast pace of development.

The CPC congress's frequent emphasis of "opening up" was exciting and encouraging as a more open China promises more opportunities to the world, which will benefit all.

In a keynote speech at the congress, President Hu Jintao urged the implementation of a more proactive opening-up strategy to improve the economy and promote mutual benefit.

The goal is to make the economy diversified, balanced, secure and efficient by boosting domestic demand and encouraging coastal, inland and border areas to draw on each other's strengths in the drive of opening up.

Such efforts will turn China into a larger market and investment place, thus injecting vigor to a world economy clouded by debt crises and desperately needing engines.

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