H.E. Xi Jinping, President of the People’s Republic of China, Delivers a Keynote Address at the Opening Ceremony of the Fourth China International Import Expo
November 4, 2021
Your Excellencies, the Presidents of the United States of America and the United Kingdom,
Your Excellencies, International Organizations’ Heads,
Your Excellencies, Delegation Leaders,
Ladies and gentlemen, distinguished guests,
Dear Colleagues,
Hello and good evening! It gives me great pleasure to meet you online in this cloud meeting as the fourth China International Import Expo (CIIE) begins today. To begin, I would like to extend a warm welcome to our distinguished guests on behalf of the Chinese government and people, as well as in my own name, as well as warm greetings and best wishes to our old and new friends.
China is a firm believer in following through on its promises. The measures I announced at the third CIIE to further open up the market have been mostly implemented. The Hainan Free Trade Port has implemented a negative list for cross-border trade in services; reform and innovation for pilot free trade zones are steadily progressing; foreign investment access continues to expand; the business environment continues to improve; negotiations on the China-EU Comprehensive Agreement on Investment have concluded; and China is among the first to have completed domestic ratification of the Regional Comprehensive Economic Partnership (RCEP). China has overcome the impact of COVID-19 to achieve innovative foreign trade growth. As the only major economy to record positive growth in goods trade last year, China has made significant contributions to maintaining global industrial and supply chain stability and boosting global economic recovery.
Friends, Ladies and Gentlemen,
As we speak, the world is witnessing the combined effects of major changes and a pandemic, both of which have not been seen in a century. Unilateralism and protectionism are on the rise, and economic globalization is under pressure. Several studies show a steady decline in the World Openness Index over the last decade, as well as a deterioration in global consensus on opening up, both of which are cause for great concern.
To sail upstream, a boat must either forge ahead or be driven backward. We must stay on top of the current trend of economic globalization and assist countries all over the world in broadening their openings while rejecting unilateralism and protectionism.
This is critical if we are to lead humanity to a better future. China’s modernity is defined by its willingness to open up. The 20th anniversary of China’s accession to the World Trade Organization is this year (WTO). China has fully met its accession commitments over the last two decades. Its overall tariff rate has been reduced from 15.3 percent to 7.4 percent, which is lower than the 9.8 percent commitment made during the accession process.
Over 2,300 pieces of legislation and regulations have been reviewed and revised by the central government, and over 190,000 pieces have been reviewed and revised by local governments, all of which have contributed to the release of market and social vitality. China has provided the international community with 350 billion masks, over four billion protective suits, over six billion testing kits, and over 1.6 billion vaccine doses since the start of COVID-19. China has actively promoted international cooperation in the fight against the pandemic and has advocated for the waiver of intellectual property rights on vaccines for developing countries.
These are the concrete steps taken by China to honor commitments and fulfill responsibilities.
Over the last two decades, China’s economy has grown from sixth to second largest in the world, its trade in goods from sixth to first, and its trade in services from eleventh to second.
China has led developing countries in foreign investment utilization, and its outbound direct investment (ODI) has risen from 26th to first place. Over the last two decades, China has been deepening reform and pursuing all-around opening up, seizing opportunities and rising to challenges, and stepping up to its responsibilities and benefiting the entire world.
Since joining the WTO, China has continued to open its doors to the rest of the world, igniting a new wave of domestic development while providing a boost to the global economy.
China’s development and progress since its WTO accession 20 years ago are the result of much hard work and tenacity on the part of the Chinese people, led by the Communist Party of China (CPC). It is also the result of China’s proactive efforts to strengthen international cooperation and pursue win-win outcomes.
On this occasion, I would like to express my heartfelt gratitude to all Chinese and foreign friends from various social sectors for participating in and witnessing this historic process, as well as for supporting China’s opening up and development efforts.
Friends, Ladies and Gentlemen,
“One can tell the inside of a thing by observing its outside, and see the future development by reviewing the past,” the ancient Chinese observed. To thrive, any country or nation must follow the logic of history and develop in accordance with the trend of the times. As for China, we will not waver in our determination to open wider at a high standard; we will not waver in our determination to share development opportunities with the rest of the world; and we will not waver in our commitment to an economic globalization that is more open, inclusive, balanced, and beneficial to all.
First and foremost, China will vigorously defend true multilateralism. The multilateral trading regime, with the World Trade Organization at its heart, is the bedrock of international trade. The multilateral trading system is currently facing challenges. China believes that the WTO reform is heading in the right direction. We support the multilateral’s inclusive development.
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trading regime, as well as the developing members’ legitimate rights and interests China will participate actively and openly in negotiations on issues such as the digital economy, trade and the environment, industrial subsidies, and state-owned enterprises, while also defending the multilateral trading regime’s position as the primary channel for international rule-making and ensuring the stability of global industrial and supply chains.
Second, China will vigorously pursue market opportunities with the rest of the world. China has a population of over 1.4 billion people and a middle-income group of over 400 million. Our annual imports of goods and services are estimated to be around US$2.5 trillion. All of this creates a massive market. In the future, China will place a greater emphasis on increasing imports and pursuing balanced trade development.
China will establish more demonstration zones for creative import promotion, optimize the catalogue of retail imports via cross-border e-commerce, encourage on-site processing of imported goods from trading between border residents, and increase imports from neighboring countries. China will improve the integration of its domestic and foreign trade, accelerate the development of international consumption center cities, promote Silk Road e-commerce, build modern logistics systems, and strengthen cross-border logistics capacity.
Third, China will vigorously promote high-quality opening.
China will further reduce the negative list for foreign investment and gradually expand the opening of telecommunications, healthcare, and other services. China will revise and expand the encouraged industry catalogue to direct more foreign investment toward advanced manufacturing, modern services, high and new technology, energy conservation and environmental protection, and the central, western, and northeastern regions. China will carry out stress tests for high-standard opening up in pilot free trade zones and the Hainan Free Trade Port, as well as release a negative list for cross-border trade in services in the pilot free trade zones. China will actively pursue participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement, as well as engage in extensive international cooperation on green and low-carbon development and the digital economy (DEPA).
Fourth, China will steadfastly defend the world’s common interests. China will actively participate in cooperation within the United Nations, the World Trade Organization, the G20, APEC, the Shanghai Cooperation Organization, and other institutions, and will encourage more discussions on issues such as
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Trade and investment, the digital economy, and green and low-carbon development are all on the agenda. China will advocate for the equitable distribution and free trade of vaccines and other critical medical supplies around the world. China will promote high-quality Belt and Road cooperation in order for more countries and peoples to benefit from its development opportunities and tangible outcomes. China will actively participate in global efforts to combat climate change and ensure food and energy security, as well as provide more assistance to fellow developing countries through South-South cooperation.
Friends, Ladies and Gentlemen,
“The going may be tough when one walks alone,” a Chinese proverb says, “but it gets easier when people walk together.” As the pandemic continues to wreak havoc and the global economy struggles to recover, it is even more critical that people all over the world band together to get through this difficult time. China stands ready to collaborate with all countries to build an open global economy, so that the spring breeze of openness can bring warmth to all parts of the globe.
Thank you very much.
