China is developing a comprehensive opening-up scheme by creating a better combination of "bringing in" and "going out," with an extended space for the development of the national economy. The Central Government also adheres to the simultaneous opening of both coastal and inland areas in a bid to fuel distribution. Industries are another vital issue for opening up with high quality, as both the manufacturing and service industries can promote the structural adjustment.

From an international perspective, relationships with both developed and developing countries should be cultivated, with unremitting efforts on multilateral and regional openness, China is a contributor to an open global economy. The adoption of the Foreign Investment Law is proof of China's willingness to further open up, protect the rights of foreign investors and generate a convenient platform. Issues such as intellectual property rights and technology transfer have been clarified.

Through the opening-up policy, China can develop on a broader platform, taking advantage of worldwide resources. It is also a good opportunity to propel Chinese companies to upgrade under the pressure from international competitors. At the same time, it can also unleash the potential of domestic enterprises on innovation, which plays an essential role in high-quality development. In terms of policies, many changes should be made in response to the rules and needs of the market economy, including government functions and the business environment.

In the context of rising trade protectionism, the multilateral trading system is challenged by various factors. But China still strives to promote global peaceful development by sharing its experience, which demonstrates its strong willingness to build a community with a shared future for humanity.

(This is an edited excerpt of an article originally published in Outlook Weekly on April 22)