China endeavors to open up new vistas for win-win cooperation (3)

As China is about to achieve the goal of finishing building a moderately prosperous society in all respects and eradicating poverty, and embrace a new journey toward fully building a modern socialist country, attentions are being casted on how the country will join hands with the rest of the world to achieve better development.

“Answering to the changing circumstances and new requirements, we have set out to foster a new development paradigm with domestic circulation as the mainstay and domestic and international circulations reinforcing each other,” said Chinese President Xi Jinping at the opening ceremony of the third China International Import Expo (CIIE) on Nov. 4.

“What we envision is not a development loop behind closed doors, but more open domestic and international circulations. We will do so not only to meet China’s own development needs but also for the greater benefit of people in all countries,” Xi added, delivering an encouraging message to the world.

At the new stage of development and under the new development paradigm, China will share new opportunities with the world and open up new and immense prospects for win-win cooperation.

As a Chinese saying goes, a wise man changes as time and event change. China gains a keen appreciation of the underlying trend of the times and firmly advances with economic globalization.

Establishing the new development paradigm is a strategic decision China made in line with the changes in the country’s development stages, environment and conditions. It is also a systematic and profound reform concerning the overall situation of the country, and an objective requirement for its economic development.

To build the new development paradigm is a proactive instead of a passive response. It is by no means an expedient measure, but a long-term strategy.

Accelerating the establishment of the new development paradigm is also an important measure for China to adapt to the new situation and stay committed to safeguarding and championing economic globalization and taking it forward.

In China’s new development paradigm, domestic and international markets and resources have a dialectical relationship.

China has a population of 1.4 billion and a middle-income group that exceeds 400 million. The vastly huge China market is the most promising in the world. Total import into China is estimated to top $22 trillion in the coming decade. Chinese manufacturing now makes an important and positive part of the global industrial and supply chains. Demand on the massive domestic market in China will continue to unleash endless potential for innovation.

Just as Xi said, promoting a large-scale and smooth domestic economic circulation will help better attract global resources, meet domestic needs, elevate industrial and technological development and foster new advantages in global economic cooperation and competition.

In the process of fostering the new development paradigm, China will possess a more important position in and have a closer tie with the world economy, and will provide more extensive market opportunities for the rest of the world, becoming a huge magnet that attracts international commodities and resources.

Openness has become a trademark of China and the CIIE an important window for the world to understand the country’s determination to open up. Over the past three years since its inception, the CIIE has enabled exhibits to become traded goods and exhibitors to spot more investment opportunities, and facilitated an exchange of new and creative ideas.

Recently, the fifth plenary session of the 19th Central Committee of the CPC adopted the CPC Central Committee’s proposals for the formulation of the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035, which called for giving full play to the role of important exhibition platforms such as the CIIE.

“China will stay committed to openness, cooperation and unity for win-win results. We will steadfastly expand all-round opening up and explore more efficient ways to connect domestic and foreign markets and share factors of production and resources. Our aim is to turn the China market into a market for the world, a market shared by all, and a market accessible to all,” said Xi at the opening ceremony of the third CIIE. This way, China will bring much-needed positive energy to the global community under the current circumstances.

Multinational corporations also voiced their anticipation for the broad prospects of China’s new development paradigm, saying they are ready to seize new opportunities in China’s accelerated opening-up and transformation through the CIIE, and will continue to root in China, serve the country and work with Chinese enterprises for win-win results as the country speeds up the construction of the new development paradigm.

China today is a proud member of the global community. Remaining committed to a win-win strategy of opening-up, it will seek development impetus from the world and contribute more to the world with its own development.

China’s establishment of the new development paradigm will help global countries foster a development pattern featuring extensive consultation, joint contribution and shared benefits, inject positive energy into the global economic recovery, and make new contributions to the building of a community with a shared future for mankind.