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Implementing New Opening-up Strategies and Sharpening China’s Competitive Edge


Implementing New Opening-up Strategies and Sharpening China’s Competitive Edge

Long Guoqiang, DRC


In face of the new challenges imposed by the current international environment, the new connotations during the strategic opportunity period and the new changes in foreign economic relations, China needs to implement new opening-up strategies in order to sharpen China’s competitive edge in the world and realize the goal of mutual benefit and win-win results with the international community.

The challenges arising from the international environment. 1. The overseas market demand is sluggish with increased competition for market share. 2. The bilateral trade imbalance has led to the looming up of protectionism. 3. The global growth pattern is being adjusted and financial risks have increased. 4. The pressure brought about by the adjustment of global economic governance and regulation has gone up. 5. The arguments about China opportunity, China threat and the collapse of China’s economy have all come up, making the international environment become increasingly complex.

The new connotations during the period of strategic opportunity. 1. Peace and development still prevail in the world. 2. The new technological revolution and industrial reform are gaining momentum. 3. The upsurge of infrastructure construction is positive for the upgrading of export mix. 4. The low-cost M&A overseas is favorable for China’s enterprises to enhance their brand marketing, upgrade their technology, and promote the building of their own multinational companies. 5. The introduction of talents and high-end industries is conducive to China's technological innovation and industrial upgrading.

New changes in foreign economic relations. Nowadays, China's foreign economic relations have undergone some new changes. For instance, China’s trade volume has become larger with China’s rise and China’s comparative advantage has become stronger through structural transformation.

New opening-up strategies. 1. China needs to sharpen competitive edge in the world. 2. China needs to form a new pattern for opening up across the board. 3. China needs to construct a new opening–up-based economic system. 4. China needs to maintain financial security and resource and energy safety. 5. China needs to participate in international economic governance.