By Zhang Yan, Zhang Lijuan; translated by Liao Bowen (Center for Sino-Indonesia People-to-people Exchange Studies, BFSU)
The holding of the China International Import Expo is a major decision made by Chinese President Xi Jinping to promote a new round of high-level opening up. It is a major initiative for China to further open its market to the world, which reflects China’s consistent position in supporting the multilateral trading system and promoting the development of free trade. It is also China’s practical action to promote the construction of an open world economy and support economic globalization.
He Yafei, former deputy director of the Overseas Chinese Affairs Office of the State Council and former deputy director of the Ministry of Foreign Affairs, believes that, first of all, this will require China to actively promote supply-side structural reforms, expand imports, enhance consumption-driven economic development, and force Chinese enterprises to upgrade, and to improve the overall level of China’s opening up to the outside world.
Second, China’s expansion of imports signifies that China’s role, as a major market in the world is further strengthened. It is clearly conducive to rebalancing the world economy, promoting the sustainable development of the world economy, helping to curb the momentum of trade protectionism and safeguarding the global free trade system.
Furthermore, China’s active expansion of imports implies that China, as an emerging market economy and a major developing country, will play a more important role in the adjustment and reform of the global governance system.
Finally, China holding an import expo will provide new opportunities and platforms for the home diplomacy, to expand the breadth and depth of China’s diplomacy, eliminate misunderstandings and enhance mutual trust, promote the benign interaction of big power relations, and give South-South cooperation more opportunities to promote the world and also promote the construction of a community of shared interests and common destiny.