Book underlines China's new type of economy
By Liu Xia |
chinawatch.cn |
Updated: 2019-09-12 14:34
Openness has been and will continue to be the key driver of China’s reform, says a new book launched on Sept 10.
A New Type of Large Open Economy was jointly published by Hainan-based think tank China Institute for Reform and Development and Chinese Workers’ Publishing House in the run-up to the People’s Republic of China’s 70th anniversary.
The two entities have previously worked together on publishing three annual reports about China’s reform. The latest one focuses on China’s higher-quality opening-up in the new era.
China Institute for Reform and Development President Chi Fulin stressed the “new type” in the book’s title. “The history of China’s reform and opening-up in the past 40 years is precisely the development of ‘a new type of large open economy’,” Chi said. “China is now embracing a higher level of opening-up — from the manufacturing industry to the services sector, from trade exchanges to structural reform — and transforming itself into a forceful promoter of economic globalization.”
The book is also useful in the context of Sino-US trade frictions today.
Chen Wenling, chief economist at the China Center for International Economic Exchanges, said that to fully understand A New Type of Large Open Economy, the readers need to adopt a global perspective.
In Chen’s view, the book not only shows China’s determination and confidence in dealing with a world filled with uncertainties, but also being a world leader.“The world needs openness to keep countries connected, so as to bring economies together. However, the once promoter is now against openness, preferring conservatism and populism,” Chen said. “From a follower to a world leader, China can actively take the responsibilities the US has abandoned by sticking to higher-quality opening-up.”
But there remains a lot to be done. As suggested in the book, China needs to prioritize competition, create a fair environment and a competitive market has to follow internationally-accepted trading rules.
Openness has been and will continue to be the key driver of China’s reform, says a new book launched on Sept 10.
A New Type of Large Open Economy was jointly published by Hainan-based think tank China Institute for Reform and Development and Chinese Workers’ Publishing House in the run-up to the People’s Republic of China’s 70th anniversary.
The two entities have previously worked together on publishing three annual reports about China’s reform. The latest one focuses on China’s higher-quality opening-up in the new era.
China Institute for Reform and Development President Chi Fulin stressed the “new type” in the book’s title. “The history of China’s reform and opening-up in the past 40 years is precisely the development of ‘a new type of large open economy’,” Chi said. “China is now embracing a higher level of opening-up — from the manufacturing industry to the services sector, from trade exchanges to structural reform — and transforming itself into a forceful promoter of economic globalization.”
The book is also useful in the context of Sino-US trade frictions today.
Chen Wenling, chief economist at the China Center for International Economic Exchanges, said that to fully understand A New Type of Large Open Economy, the readers need to adopt a global perspective.
In Chen’s view, the book not only shows China’s determination and confidence in dealing with a world filled with uncertainties, but also being a world leader.“The world needs openness to keep countries connected, so as to bring economies together. However, the once promoter is now against openness, preferring conservatism and populism,” Chen said. “From a follower to a world leader, China can actively take the responsibilities the US has abandoned by sticking to higher-quality opening-up.”
But there remains a lot to be done. As suggested in the book, China needs to prioritize competition, create a fair environment and a competitive market has to follow internationally-accepted trading rules.
