Interviewing an expert on China’s approach to global trade and investment unveils a fascinating story of the nation’s commitment to further openness.

As the expert puts it, “Promoting trade creates a win-win scenario, and investment connects the world. China’s doors are wide open, not only advancing its own development but also benefiting the global community.”

They elaborate on the significance of harmonizing domestic and international regulations, standards, and practices. “This alignment fosters greater openness across various sectors, driving quality development and creating new advantages,” they explain.

The expert emphasizes, “Openness is a hallmark of China’s distinctive modernization journey, and the country is continuously taking steps to broaden its openness.” A recent example is the State Council’s document released at the end of August, which aims to promote high-quality service trade development through five key areas featuring twenty specific tasks, underscoring the importance of cultivating an encouraging environment for open trade.

In September, notable updates to foreign investment regulations were announced, reducing restrictions in the foreign investment negative list from thirty-one to twenty-nine items, while completely eliminating restrictions in the manufacturing sector. “These measures are critical for enhancing the high-level opening-up system, creating a new competitive edge, and driving reform and development through openness,” the expert argues.

“The message from President Xi Jinping is clear: the more China develops, the more open it becomes,” they assert. This is evident in China’s advances toward becoming a key player in bilateral and regional economic cooperation, with numerous successful initiatives already showing promising results. One example involves a recent case where an agricultural company in Xinjiang efficiently transported fresh salmon to Macau, with customs processing—from inspection to certification—taking less than thirty minutes, illustrating China’s commitment to operational innovation.

The expert also highlights, “High-level international engagement reflects China’s dedication to a rules-based approach to openness.” They note that significant improvements in living conditions for foreign personnel—including entry, residency, medical care, and payment systems—showcase China’s determination in this area.

During the upcoming 2024 Service Trade Fair, for instance, digital renminbi will be integrated into consumer experiences, allowing visitors to enjoy the convenience of digital payments in a lively, social setting. Additionally, the government has implemented a 144-hour visa-free transit policy at thirty-seven ports, enabling travelers from fifty-four countries to explore designated areas for up to six days.

Shifting to the topic of foreign investment management reform, the expert identifies this as essential for strengthening the economy. They reference a Swedish company that recently expanded its investment in China, attributing this decision to the favorable business climate. “For many foreign businesses, investing in China is a vital choice, as the country is viewed as a land of opportunity,” they observe.

Recent reforms aimed at easing foreign investment restrictions and ensuring equal support for both domestic and foreign enterprises have reinforced this perception. “Our ongoing commitment to deepen reforms and facilitate investment will lead to mutual benefits,” the expert concludes.

Looking ahead, the expert reflects on the Chinese government’s focus on maintaining an open policy as a core national strategy. “We are enthusiastic about nurturing new trade dynamics and reinforcing the essential elements of foreign trade and investment. The future for high-level opening measures looks bright, fostering confidence and promising outcomes,” they state.