On the Road: China deepening reform and opening up
To celebrate the 70th anniversary of the founding of the People's Republic of China (PRC) and present a panoramic view of the country's great journey, the 24-episode documentary "On the Road" focuses on the great achievements and valuable experiences of people of all ethnic groups in the socialist revolution, construction and reform over the past 70 years. It also recounts touching stories and important events in the country since 1949.
The 17th episode of the series looks at how China is deepening reform and opening up.
The rapid development of the past has created a series of potentially damaging, deep-rooted issues. The economic system is a key focus of the effort to comprehensively deepen reform. The core issue is managing the relationship between the government and the market.
The CPC has deepened its understanding of this relationship over time. The 3rd Plenary Session of the 18th CPC Central Committee stated: "The market should play a decisive role in the allocation of resources and the government should play a more effective role." This assertion represented another great theoretical leap forward by the CPC.
A main framework for comprehensively deepening reform, consisting of multiple pillars in every field, has basically been established.
China's first free trade zone was established in Pudong, Shanghai in 2013. Since then, China has established 18 free trade zones over the past six years. Two hundred and two systemic innovations have been generated in these zones, which have been copied elsewhere. As a result, a more market-oriented, international and legally-based domestic business environment has been created.
The negative list for foreign investment access is getting shorter and shorter, as a sign that China is opening its door even wider.
From establishing a mechanism connecting the Hong Kong and Shanghai stock markets, to raising foreign equity caps in banking, securities and insurance, from organizing the China International Import Expo, to issuing the new Foreign Investment Law, which will come into effect in 2020, China, through its actions, is showing its determination to open up further.