General Secretary Xi Jinping once again emphasized the need to "build a new system for a higher level of open economy" during his inspection in Fujian. At present, economic globalization is in a period of in-depth adjustment. In recent years, some new situations, new changes and new problems have emerged. In this context, China needs to cultivate and shape new development momentum and competition in an ever-opening door. New advantages, to promote reform and development through opening up, it is necessary to build a new higher-level open economic system to provide institutional guarantees and support.
The new system of a higher level of open economy can be understood from two dimensions. First, the new system of open economy mainly includes innovating the foreign investment management system, building a new mechanism for sustainable development of foreign trade, establishing a new system that promotes the strategy of going global, accelerating the construction of the “Belt and Road”, optimizing the layout of opening up areas, and expanding international economic cooperation. New space, build an open and safe financial system, build a stable, fair, transparent, and predictable business environment, strengthen the construction of support and guarantee mechanisms, and establish and improve an open economic security guarantee system. The second is to form basic rules and institutional systems that are in line with the prevailing rules of international economic and trade activities in promoting the reform of rules and optimizing the design of the system.
Specifically, building a higher level of open economic system mainly involves the following aspects:
As far as the level of opening up is concerned, the process of opening up in my country can be divided into two stages in terms of form. The focus of the first stage is to promote the inflow and export of foreign capital, and investment attraction has become a policy focus of the whole country and localities. The second stage is characterized by the combination of "bringing in and going out" to achieve the basic balance of two-way capital flow, and to integrate into the process of economic globalization in a more balanced way. At present, China's role in the international production system will be transformed from an integrator of advantageous elements to an integrator of global advantageous elements, from a participant in the international production network to a builder of an international production network with "self-centeredness".
Adhering to two-way openness means to pay equal attention to "going out" and "bringing in." From the perspective of "bringing in", in the initial stage of open economic development, "market for technology" was regarded as the purpose of using foreign capital, but its actual role was mainly to promote the full use of our country's advantageous elements. .
In the future, "bringing in" needs to adapt to my country's requirements for accelerating the transformation of economic development mode, focus on improving the quality of foreign investment, and focus on absorbing the technological innovation capabilities, advanced management experience and high-quality talents carried by international investment. From the perspective of the international circulation system, while continuing to bring in at a high level, it is necessary to "go out" at a greater pace to create a truly two-way open economic system with both "introduction" and "going out". In order to better integrate and utilize resources on a global scale, and expand development space.
"Going out" reflects the requirement for China's economic development to enter a new stage, and it is also a feature of the development of an open economy to a higher stage. On the one hand, the enhancement of the competitiveness of Chinese enterprises faces the constraints of insufficient or missing strategic assets such as technology and brand. One of the effective ways to obtain such strategic assets is to allocate relevant links to areas with abundant innovation factors through foreign direct investment. This kind of strategic asset-seeking investment can enhance the competitiveness of enterprises in the international market and expand market demand. On the other hand, with the rising labor costs in China, Chinese companies shift some labor-intensive links to other regions based on cost advantages, which can reduce the pressure of rising costs brought about by rising wages.
In terms of the scope of opening up, in the initial stage of open economy development, the level of open economy development in the eastern region was significantly higher than that in the central and western regions. The opening up development in the new era has expanded the scope of open space, changing the regional pattern of my country’s opening to the outside world fast in the east and slow in the west, strong coastal inland and weak inland, and gradually formed a new pattern of all-round opening up of coastal inland and border cooperation and interactive development. , Comprehensive opening and coordinated development along the river to inland and along the border. From the perspective of external market distribution, it is necessary to break through the limitation of over-concentration of the market layout of traditional developed economies, and increase the intensity of opening to the west and south while continuing to open to the east to further expand the development space for opening up.
Regarding the open fields, the industries in the early stages of opening up were mainly general manufacturing and service industries with a relatively low degree of openness. Entering a new era, the open fields are further expanded. It is to break through the traditional open mode of "single-soldier advance" and "single-line development" in the manufacturing sector, realize the two-wheel drive of deepening the opening of the manufacturing industry and expanding the scope of the service industry, and create a broader and more balanced opening in the industrial field To promote the orderly opening of service industries such as finance, education, culture, and medical services in a new pattern, liberalize foreign investment restrictions in service industries such as childcare, architectural design, accounting and auditing, business logistics, and e-commerce, and further liberalize general manufacturing industry.
As far as the new platform of the open economy is concerned, in the face of changes in the global economic governance system, China needs to take the initiative to be a good participant and leader, and strive for the right to speak in the formulation of international economic and trade rules. Among them, the open development of a new platform undoubtedly has an important role and significance, shouldering a historical mission and responsibility. my country will continue to rely on the existing free trade ports, pilot free trade zones, new areas, and industrial parks, continue to adhere to the core of system innovation, and further connect with high-standard international economic and trade rules, and form distinctive Each has its own experimental pattern to promote the comprehensive deepening of reform and opening up. In addition, the open development of the new era also includes other innovative and diversified open platforms and carriers, such as accelerating the implementation of the free trade zone strategy between countries, steadily advancing the construction of the “Belt and Road”, the construction of the Asian Infrastructure Investment Bank, and holding Expositions, etc., undoubtedly involve institutional innovations such as important rules, and are an important platform for building a higher-level open economic system.
Source: China Trade News
