China to expand high-level opening up, advance win-win cooperation

Chinese Premier Li Qiang said that in the year ahead, China will further expand high-level opening up and strengthen cooperation with the international community for mutual benefit.

He made the remarks while outlining government tasks in the work report delivered at the fourth session of the 14th National People's Congress on Thursday. Li stressed that China will steadily expand institutional opening up, deepen international economic engagement, and leverage opening up to drive China's reform and development.

Li said China will expand market access for the services sector and implement pilot programs in areas such as value-added telecommunications, biotechnology and foreign-owned hospitals. He said opening up of the digital sector will be expanded in an orderly manner and restrictions on cross-border service trade will be reduced. The country will also strengthen its national demonstration zones for opening up in the services sector.

He highlighted efforts to advance regional and bilateral trade and investment agreements, saying China will accelerate participation in international economic frameworks. He said China will actively push forward membership in the Digital Economy Partnership Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. China will also deepen involvement in the World Trade Organization reform and support an open global economy.

On investment cooperation, Li said the government will reform mechanisms to attract foreign investment, guarantee national treatment for foreign companies, implement updated catalogues encouraging foreign investment, and improve services for international businesses.

He said China will also guide the orderly cross-border distribution of industrial and supply chains, enhance comprehensive overseas services, and strengthen risk prevention and the protection of overseas interests.

The premier also underscored efforts to stabilize foreign trade and optimize its structure. He said China will increase financial and insurance support, expand cross-border use of the renminbi, and help companies diversify global markets.

New growth drivers in trade will also be cultivated. Li said that China will expand cross-border e-commerce and overseas warehouses, improve international logistics networks, encourage service exports, and increase imports to promote balanced trade.