Editor's Note: China is to further unleash the potential of its domestic market, and to improve the level and quality of its global trade and investment cooperation. How will the world's second largest economy achieve its goals? Two Chinese political scholars, Chen Li, former drector of the Academic and Editorial Committee at Institute of Party History and Literature of the CPC Central Committee, and Sheng Mingfu, executive president of China Association of Policy Science, share their in-depth views. The opinions expressed in the video are their own and not necessarily those of CGTN.

CGTN: Why does China stress high-standard opening up?

Chen Li: High-standard opening up is a critical aspect of the high-quality development we pursue today. It is crucial for us to build a new pattern of development, which is open and is a (domestic and international) dual circulation.

Today, at the current stage, we indeed need to focus more on domestic demand as we enjoy the advantage of a sizable market. That said, we are not to close the door of opening up, but to accelerate domestic economic cycle by tapping into the potential of domestic demands, to better attract international resources.  

CGTN: How can China achieve high-standard opening up?

Chen Li: The Belt and Road Initiative (BRI) has won increasingly wider support of other countries in the world, in particular the participant countries. By this September, a total of 149 countries and 32 international organizations have signed over 200 cooperation agreements on the BRI with China. We already see many of them with rich fruits. Shortly after the railway between China and Laos came into operation, the freight value has exceeded over $13 billion.

Sheng Mingfu: China's high-standard opening up first involves rules, regulations, management, and standards. It is in fact an institutional opening up, which is obvious a higher level opening up. This is a crucial aspect. Second, to make reductions to the negative list, the shorter the (negative list) is, the lower the thresholds. Third, it is stressed in the report that it is to promote the high-quality development of the Belt and Road Initiative. Fourth, it is to expand the network of high-standard free trade areas.

Editors: Xiao Qiong, Liang Zhiqiang

Graphic designer: Qi Haiming

Producer: Wang Ying

Chief editor: Ren Yan