China to continue expanding high-standard opening up: Vice President

BEIJING: China will continue expanding high-standard opening up and sharing development opportunities with the rest of the world, China Central Television reported, citing Vice President Han Zheng on Monday.

During his address at the inaugural ceremony of the 2024 Global Trade and Investment Promotion Summit in Beijing, Zheng emphasised that amidst the strains of global economic recovery, opportunities for development are juxtaposed with risks and challenges.

He underscored the imperative of steadfastly promoting trade and investment liberalisation and facilitation, while earnestly preserving the resilience and stability of global industrial and supply chains. Zheng highlighted that only through these concerted efforts can nations strengthen the bonds of cooperation and expand the realm of mutual benefit.

He called for seizing opportunities brought about by a new scientific and technological revolution, sharing with a more open and creative mindset and more measures, and jointly opening up new areas, creat
ing new models, and fostering new growth drivers.

The Vice President underscored the need to practice true multilateralism, uphold the multilateral trading regime with the World Trade Organisation at its core, promote the development of an open global economy, and boost a universally beneficial and inclusive economic globalisation.

Noting that the Chinese economy, as the world’s second-largest, has contributed around 30 per cent to global growth for many years, Zheng said a more open China with steady economic expansion will inject a strong impetus into the world economy.

The Global Trade and Investment Promotion Summit is sponsored by the China Council for the Promotion of International Trade and has taken place for three consecutive years. This year’s summit brought together over 750 heads of international organisations and economic institutions, foreign business associations and global trade promotion agencies, as well as representatives of Chinese and overseas firms.

Source: Emirates News Agency