CHINA OPENS WIDER

By Li Li

Chinese President Xi Jinping delivers a keynote speech themed “Openness for Greater Prosperity, Innovation for a Better Future” at the opening of the BFA Annual Conference in Boao, Hainan Province, on April 10.

Xi vows further opening-up in a milestone speech at 2018 BFA Annual Conference

“China’s door of openingup will not close, but only open wider,” pledged Chinese President Xi Jinping, also general secretary of the Communist Party of China (CPC) Central Committee, in a keynote speech at the opening of Boao Forum for Asia (BFA) Annual Conference 2018 on the morning of April 10.Xi’s remarks testified to China’s firm resolve and major action to deepen reform and expand opening-up in the new era as well as the president’s commitment to creating a community with a shared future for all mankind.Global reaction to the speech in Boao solidified Xi’s status as one of the strongest voices of our times.

‘China Miracle’ Boosts Con fidence

In this complex and changing world, where are we headed?In what direction is the future of Asia? President Xi seeks to offer Chinese answers to such questions: Openness leads to progress while seclusion leaves one behind. Reform and innovation are the fundamental driving forces of human progress.Only peaceful development and cooperation can truly promote win-win or all-win results.

In his 2018 New Year speech,Xi demonstrated China’s resolve and con fidence in continuing reform and opening-up: “With the 40th anniversary of the reform and opening-up policy as a turning point, we shall cut paths through mountains and build bridges across rivers to overcome all difficulties and carry reform through to the end.”Since the 18th CPC National Congress, efforts to deepen reform and remove institutional barriers have included a total of 360 major reform plans devised and over 1,500 reform measures launched, establishing a general framework for reform in major fields and fueling greater Chinese growth.

China’s economic miracle was achieved through reform and opening-up over the past 40 years. The country has grown into the world’s second largest economy (with GDP averaging annual growth of 9.5 percent),the largest industrial producer,the largest trader of goods,and the holder of the largest foreign exchange reserves. As its comprehensive strength continues increasing, China is striving to eradicate rural poverty completely by 2020. China’s development not only benefits its own citizens, but has also contributes over 30 percent of global growth, serving as a major stabilizer and driving force for the world economy.

Five years ago, President Xi Jinping first proposed the Belt and Road Initiative. Since then more than 80 countries and international organizations have signed the cooperation agreements with China.Implementation of the Belt and Road has helped dispel the haze of the global financial crisis and provided new impetus for the recovery and sustainable development of the world economy. Through extensive cooperation, the potentials of developing countries along the route have been unleashed,making economic globalization more open, inclusive, balanced and beneficial for all.

Ban Ki-moon, former Secretary General of the United Nations and newly elected Chairman of the Board of Directors of the BFA who closely follows Asian development,stressed his commitment and readiness to promote the economic and social integration of Asia as well as sustainable development that affords prosperity of all peoples around the world. Speaking during the “40 Years of Reform &Opening: China and the World”TV Debate, he highly praised China’s development over the years. “Almost all Chinese people lived in poverty four decades ago, but reform and openingup has made China the second largest economy in the world,”he asserted. “I think President Xi has already laid out a very good vision and mechanism with the Belt and Road Initiative,which, supported by the Asian Infrastructure Investment Bank,provides opportunities and guarantees for realizing the goal of Asian prosperity.”

United Nations Secretary-General Antonio Guterres praised China’s partnership with the UN, stating that China has become the most important pillar of multilateralism and an indispensable, trustworthy force for world peace and development. In 2017, China’s GDP topped 80 trillion yuan(US$12.6 trillion), with an annual growth reaching the level of a moderately developed country.

New Opening-up Measures,New Driving Force

During his speech at the opening of 2018 BFA, President Xi announced major initiatives to expand opening-up in ways that inject new fire into the economic growth of Asia and the world. These initiatives include“significantly broadening market access,” “creating a more attractive investment environment,” “strengthening protection of intellectual property rights” and “making proactive measures to expand imports.”

Oh Ei Sun, a China scholar and special adviser for International Affairs of Malaysia’s Asian Strategy and Leadership Institute,has attended the BFA annual conference three times. President Xi’s keynote speech impressed him.

“President Xi’s announcement of a series of measures to further open the market and expand imports has won wide accolades from surrounding countries including Malaysia,” he noted,adding that China’s continued reform and opening-up and proactive attitude towards creating a more beautiful future with the rest of Asia and even the world will be tremendously significant. According to him,China’s rise represents the rise of emerging markets, which is transforming the global structure. Against the backdrop of rising trade protectionism,China has continuously maintained a positive stance to boost market con fidence.

Oh Ei Sun also expressed hope that amid the rising tide of trade protectionism and anti-globalization, China will continue to promote free trade to maintain the preeminence of a multilateral economic system. “The new measures President Xi announced are important and pragmatic,especially the intellectual property rights protection measures, which will stimulate innovation and creation, creating greater opportunity for social development,” he opined.

“When President Xi explained the four major opening-up measures, foreign guests around me erupted into even louder applause than me,” recalled Chi Fulin, president of China(Hainan) Institute for Reform and Development. China’s reform and opening-up is not just a Chinese domestic affair,but a matter affecting the entire world, he added. As it celebrates the 40th anniversary of this historic policy, China is determined to open wider to the outside world, increase global con fidence in its ability to face challenges from trade protectionism, and continue providing strong momentum for pushing more balanced economic globalization.

With focal points such as“globalization and the Belt& Road,” “an open Asia,”“innovation” and “reform starting again,” this year’s BFA annual conference consisted of 60-plus formal discussions, most of which touched on the topic of“China opportunities.”3

Chinese President Xi Jinping delivers a keynote speech themed“Openness for Greater Prosperity,Innovation for a Better Future” at the opening of BFA Annual Conference in Boao, Hainan Province, on April 10.

00 plans 1,500 measures

Since the 18th CPC National Congress, efforts to deepen reform and remove institutional barriers have included a total of 360 major reform plans devised and over 1,500 reform measures launched,establishing a general framework for reform in major fields and fueling greater Chinese growth.

China’s door of opening-up will not close, but only open wider.

According to Mr. Lee Heng Guie, Executive Director of Socio-Economic Research Centre under the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCIM),China’s efforts to safeguard global trade liberalization have created a favorable environment for economic growth in Asian countries, and thanks to a platform like BFA, China will continue to defend the free trade system and fuel global sustainable development.‘Community with a Shared Future’ Concept Applauded

In his speech, President Xi also stressed the need of having a keen grasp of the laws of history and trends of the times, expressing hope that people around the world will work together to make Asia and the world peaceful, tranquil,prosperous, open and beautiful.

Professor Tan Eng Chye,president of the National University of Singapore, believes that globalization will intertwine the futures of Asian countries and that no country can realize strong development without peaceful and stable international circumstances or mutuallybeneficial cooperation with other countries, which, in his view, should be at the heart of a community with a shared future for mankind.

From the perspective of Dr.Adi Zakaria Afiff, Vice Rector of Finance, Logistics and Facilities at the University of Indonesia, globalization is at a crossroads at which a deeper understanding of the concept of “community with a shared future for mankind” would be helpful. China’s development concepts and approaches have made significant contributions to establishing cooperation and trust in the region and the world.In this sense, he asserted, the BFA is an important platform for Asian countries to join hands for a shared future.

“The BFA is becoming more and more international,”remarked Gloria Macapagal Arroyos, former president of the Philippines and a newly elected council member of the BFA. “Guests from more and more countries are involved,and the topics for discussion are more centered around global issues, which rides the current globalization.”

Win Tin, editor-in-chief of Northern Lights magazine from Myanmar, praised President Xi Jinping as a powerful Chinese leader with talent for state governance, explaining that the Belt and Road Initiative and the vision of building a community with a shared future for mankind,both proposed by Xi with the world in mind, have provided Chinese wisdom to facilitate international cooperation,shared Chinese experience with the world and propelled the common development of China and other countries.

A More Open China Expected

“China will open wider and produce greater benefits for people around the world,”pledged President Xi at the opening of the 2018 BRA.

China launched the policy of reform and opening-up in 1978, a milestone measure that would in fluence and determine its modern development. Four decades later, standing in a more affluent position, China is mapping out new approaches to promote reform. Compared to 40 years ago when China managed to “cross the river by feeling for stones,” its reform has now entered uncharted waters and touched deep-rooted problems—an “upgraded version” that requires the guidance of top-level design. The recent BFA annual conference harvested signals of new policies in this regard,attracting a global spotlight.

“I look forward to seeing President Xi show his leadership clout in the economic development of China and the world as a whole,” revealed Arroyos. “I believe that socialism with Chinese characteristics has unique advantages, and China’s development path is something we Filipinos can learn from.The Philippines has benefited a lot from the continued contributions China has made to global growth.”

Ban Ki-moon hailed China’s remarkable achievements in poverty alleviation as well as its contributions to global poverty relief. Considering that some 1 billion people in the world still live in extreme poverty, China’s targeted poverty reduction approach can play a key guiding role in the promotion of sustainable development, Ban added.

The northern Thai city of Chiang Mai, a popular destination for Chinese tourists,has established sister-city relationships with a number of Chinese cities. Krit Thanavanich,vice-governor of Chiang Mai,warmly welcomes China’s policy of wider opening-up, believing that the new measures will propel in-depth cooperation between China and Thailand in thefields of trade, education,tourism and investment.

The 2018 BFA shed light on China’s resolve to deepen reform and expand opening-up.Embarking on a new journey towards a higher-level open economy, China is embracing the world with unprecedented enthusiasm and injecting more con fidence into countries around the globe.