{"id":13270,"date":"2022-11-04T18:50:00","date_gmt":"2022-11-04T18:50:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3926224_AE26224_0"},"modified":"2022-11-04T18:50:00","modified_gmt":"2022-11-04T18:50:00","slug":"cgtn-5th-ciie-chinas-door-will-further-open-after-20th-party-congress","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=13270","title":{"rendered":"CGTN: 5th CIIE: China&#8217;s door will further open after 20th Party congress"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/en.prnasia.com\/prnasia.com-PC\/images\/logo-en-blue-in.png\" class=\"ff-og-image-inserted\"><\/div>\n<p><span class=\"xn-location\">BEIJING<\/span>, <span class=\"xn-chron\">Nov. 5, 2022<\/span> \/PRNewswire\/ &#8212; As the first prominent international exhibition following the 20th National Congress of the Communist Party of <span class=\"xn-location\">China<\/span> (CPC), the 5th China International Import Expo (CIIE) will once again help the world better understand <span class=\"xn-location\">China&#8217;s<\/span> high-standard opening-up and win-win approach.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder4478\" align=\"center\" readability=\"7\">\n<p title=\"CGTN: 5th CIIE: China's door will further open after 20th Party congress\"><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/mQeW53rb1vk\" frameborder=\"0\">&amp;amp;amp;amp;amp;nbsp;<\/iframe><\/p>\n<\/p><\/div>\n<p>Echoing his report to the 20th CPC National Congress, Chinese President <span class=\"xn-person\">Xi Jinping Friday<\/span> reiterated <span class=\"xn-location\">China&#8217;s<\/span> commitments to promoting high-standard opening-up.<\/p>\n<p>&#8220;Openness is a key driving force behind the progress of human civilizations and an intrinsic path toward global prosperity and development,&#8221; Xi said when addressing the opening ceremony of the 5th CIIE via video.<\/p>\n<p>This year&#8217;s expo is slated for <span class=\"xn-chron\">November 5-10<\/span> in <span class=\"xn-location\">China&#8217;s<\/span> economic hub <span class=\"xn-location\">Shanghai<\/span> and expects to welcome participants from 145 countries, regions and international organizations.<\/p>\n<p><b>Institutional opening-up<\/b><\/p>\n<p>In his address, Xi said that <span class=\"xn-location\">China<\/span> will work with all countries and all parties to share the opportunities from its institutional opening-up. The importance of expanding institutional opening-up is also highlighted at the report to the 20th CPC National Congress in terms of promoting <span class=\"xn-location\">China&#8217;s<\/span> high-standard opening-up.<\/p>\n<p>As the Chinese president vowed on Friday, <span class=\"xn-location\">China<\/span> will steadily expand institutional opening-up with regard to rules, regulations, management and standards.<\/p>\n<p>He further noted <span class=\"xn-location\">China<\/span> will implement the strategy to upgrade pilot free trade areas, accelerate the Hainan Free Trade Port development, and tap into their role as pilot platforms for comprehensive reform and opening-up.<\/p>\n<p>The pilot free trade zones (FTZ) in <span class=\"xn-location\">China<\/span> enjoy greater autonomy in facilitating the country&#8217;s institutional innovation, which all implemented the foreign investment law to improve the foreign investment promotion system, the foreign investment information reporting system, and the system of regulation in process and afterwards, and protect the legitimate rights and interests of foreign investors.<\/p>\n<p>For instance, The <span class=\"xn-location\">Shanghai<\/span> pilot FTZ took the lead in introducing a slew of financial innovation measures in institutional reform, including enlarging cross-border use of RMB and establishing a free trade account system. The system has been introduced to pilot FTZs in Tianjin Municipality, <span class=\"xn-location\">Guangdong Province<\/span> and other regions in <span class=\"xn-location\">China<\/span>.<\/p>\n<p>In less than 10 years after <span class=\"xn-location\">China<\/span> launched its first pilot FTZ in <span class=\"xn-location\">Shanghai<\/span> in 2013, the number of such zones has surged to 21 with a total of 278 institutional innovations having been formulated and replicated nationwide, demonstrating <span class=\"xn-location\">China&#8217;s<\/span> firm determination to open wider.<\/p>\n<p><b>Opportunities for all<\/b><\/p>\n<p>According to the expo&#8217;s organizer, enterprises from all the member states of the Regional Comprehensive Economic Partnership (RCEP), the world&#8217;s largest free trade deal to date, will be involved in the business fair.<\/p>\n<p><span class=\"xn-location\">Nicaragua<\/span>, <span class=\"xn-location\">Djibouti<\/span>, <span class=\"xn-location\">Mauritania<\/span>, <span class=\"xn-location\">Comoros<\/span>, <span class=\"xn-location\">Mozambique<\/span>, the <span class=\"xn-location\">Democratic Republic of Congo<\/span>, <span class=\"xn-location\">Iraq<\/span> and <span class=\"xn-location\">Iceland<\/span> will for the first time be at the country exhibition of the six-day expo.<\/p>\n<p>Thus, a total of 284 Fortune 500 companies will join the enterprise exhibition, with nearly nine out of 10 being repeat exhibitors.<\/p>\n<p>The four previous editions of the CIIE launched more than 1,500 new products, technologies and services, with a total expected turnover exceeding <span class=\"xn-money\">$270 billion<\/span>.<\/p>\n<p>The CIIE&#8217;s development in the past five years has vividly shown that &#8220;the CIIE has become a showcase of <span class=\"xn-location\">China&#8217;s<\/span> new development paradigm, a platform for high-standard opening-up, and a public good for the whole world,&#8221; as Xi put it at the address.<\/p>\n<p>He also stressed <span class=\"xn-location\">China<\/span> will work with all countries and all parties to share the opportunities in its vast market as well as share the opportunities from deepened international cooperation.<\/p>\n<p>The Belt and Road Initiative (BRI) is a bright spot showing how <span class=\"xn-location\">China&#8217;s<\/span> opening-up endeavors are sharing <span class=\"xn-location\">China&#8217;s<\/span> development opportunities for all.<\/p>\n<p>Up to now, <span class=\"xn-location\">China<\/span> has signed more than 200 cooperation documents with 149 countries and 32 international organizations under the BRI, and cumulative trade in goods between <span class=\"xn-location\">China<\/span> and countries along the Belt and Road is about <span class=\"xn-money\">$12 trillion<\/span> (as of <span class=\"xn-chron\">June 2022<\/span>).<\/p>\n<p>Wrapping up his speech, Xi said &#8220;<span class=\"xn-location\">China<\/span> is ready to work with all countries to practice true multilateralism, build more consensus for openness, jointly overcome the difficulties and challenges confronting global economic growth, and make sure that our commitment to openness will bring about broad prospects for global development.&#8221;<\/p>\n<p><a href=\"https:\/\/news.cgtn.com\/news\/2022-11-04\/5th-CIIE-China-s-door-will-further-open-after-20th-Party-congress-1eGZgs8Gkes\/index.html\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/news.cgtn.com\/news\/2022-11-04\/5th-CIIE-China-s-door-will-further-open-after-20th-Party-congress-1eGZgs8Gkes\/index.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BEIJING, Nov. 5, 2022 \/PRNewswire\/ &#8212; As the first prominent international exhibition following the 20th National Congress of the Communist Party of China (CPC), the 5th China International Import Expo (CIIE) will once again help the world better understand China&#8217;s high-standard opening-up and win-win approach. &amp;amp;amp;amp;amp;nbsp; Echoing his report to the 20th CPC National Congress, [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-13270","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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