China is entering a new era of high-standard opening-up, spearheaded by President Xi Jinping's vision that \"only an open China can become a modern China.\" Central to this initiative is the China Council for the Promotion of International Trade (CCPIT), which is enhancing international business ties and fostering robust economic exchanges.
Boosting Foreign Trade and Investment
Under Xi's guidance, the CCPIT has implemented policies to stabilize and grow foreign trade and investment. In the first seven months of this year, China's import and export growth remained steady at 0.4% year-on-year. The number of foreign-funded enterprises surged by 35.7%, with high-tech sectors attracting significant quality investments. Multinational corporations are increasingly investing in China, solidifying its position as a premier destination for global business.
The CCPIT has actively organized international events, including the China International Supply Chain Expo and the 2023 Global Trade and Investment Promotion Summit. These platforms have facilitated agreements with over 300 companies and fostered cooperation among business leaders from more than 30 countries and regions.
Advancing the Belt and Road Initiative
The Belt and Road Initiative (BRI) continues to thrive, with over 200 cooperation agreements signed with 152 countries and 32 international organizations. Trade with BRI partner countries grew by 7.4% year-on-year, and non-financial direct investments increased by 23.2%. Landmark projects like the China-Laos Railway and the Jakarta-Bandung High-Speed Rail are progressing steadily, showcasing the BRI's role as a platform for international cooperation and shared growth.
The CCPIT has established numerous bilateral and multilateral business cooperation mechanisms, such as the Silk Road Business Council, to promote economic and trade cooperation under the BRI. High-level business conferences and exchange programs have further strengthened ties with countries in Central Asia, the Arab region, and beyond, paving the way for the upcoming Belt and Road Forum for International Cooperation.
Through these efforts, the CCPIT is not only supporting China's high-standard opening-up but also contributing to the creation of a more interconnected and prosperous global economy.
Reference(s):
Decoding China: Writing a new chapter of high-standard opening-up
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