Shenzhen, once the forefront of China's reform and opening up, has evolved into a pivotal engine within the Guangdong-Hong Kong-Macao Greater Bay Area. As China pledges to further open its doors to the world, the city is implementing innovative measures to sustain its dynamic growth.
Since the late 1970s, China's opening-up policy has transformed the nation into the world's second-largest economy and the largest trading nation. Today, this policy has entered a \"new era,\" encompassing three main areas: attracting young entrepreneurs to build tech businesses, engaging with the developing world through the Belt and Road Initiative, and expanding China's vast domestic market by boosting imports via the China International Import Expo.
President Xi Jinping envisions China's great rejuvenation as a harmonious blend of prosperity, strength, democracy, cultural advancement, and beauty. Internationally, he advocates for win-win cooperation to build a global community with a shared future. Achieving these ambitious goals relies heavily on multi-dimensional opening up, which now includes talent attraction, infrastructure development, and market accessibility for foreign products and investments.
Today's opening up differs significantly from the original one-dimensional approach of the past. It is now bidirectional, involving both outbound and inbound initiatives. Furthermore, it integrates trade facilitation, financial reforms, new industrial models, and technological cooperation, moving away from reliance on heavy industry and cheap labor. The market also plays a more decisive role compared to the strict government control of earlier decades.
Despite the progress, challenges remain. Economic uncertainties and cautiousness among foreign companies and domestic entrepreneurs present significant hurdles. However, China acknowledges these challenges and is committed to addressing them as it strives toward its national rejuvenation goals for 2035 and 2050.
Reference(s):
cgtn.com
