In recent years, China has increasingly opened up to the world and to different markets and is now ready to be the first promoter of global growth
In this period of global economic uncertainty, a country like China intends to reinvigorate the global economy with the win-win economic theory used by the country to establish economic relations with the world.
Currently, China ranks 31st out of 190 economies in terms of ease of doing business, but, according to a report recently released by the World Bank, it is the second consecutive year that the country ranks among the top 10 economies in the world that it has improved the ease of doing business.
China’s commitment is continuous and, since the beginning of this year, the country has introduced a series of policies and measures to create a more attractive business environment. In March, for example, it approved the foreign investment law to provide stronger protection for foreign investors.
China has also established a new batch of free trade areas
Among other reforms, in October, the country reviewed the rules on insurance management with foreign investments and banking companies with foreign investments to further open its insurance and banking sectors to foreign investors.
A few days ago, however, China made public a regulation on optimizing the business environment to legalize effective practices for the rationalization of administration, delegation of powers, strengthening of regulation and improvement of services in recent years.
In line with the advanced international levels, the regulation specifies the basic principles and guidelines for fostering a fair and equal commercial environment for all market players, including domestic and foreign companies.
China is determined to deepen reforms and open up to the outside world
As a collaborator and beneficiary of economic globalization, China will remain firm in pursuing the path of peaceful development and a strategy of openness of mutual benefit to continue to add momentum to an open world economy.
Supporters are also coming from outside of China. Martin Jacques, a British scholar, thinks that China is in stark contrast to some Western countries in terms of attitude towards openness and globalization, as China is becoming increasingly open, while some Western countries show the opposite trend.
The opening of China has a strong momentum. Earlier this month, Qingdao‘s first multinational summit was successfully held, in which more than 100 companies on the Fortune Global 500 list shared their vision of China’s opportunities. A success that sees China as the future of international cooperation.
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