Openness brings progress, while self-seclusion leaves one behind.
China will not close its door to the world; we will only become more and more open.
Decoding
Adoption of reforms and opening-up
1978
1990
People's basic needs
are met
Moderately prosperous society
2035
2020
Modernization
basically achieved
2050
Great modern
socialist country
Goals and achievements
Our Party united the people and
led them in launching the great new revolution
of reform and opening up,...in embarking on
the path of socialism with Chinese characteristics.
We will adopt policies to promote
high-standard liberalization and facilitation
of trade and investment.
Reforms have deepened in the past five years; as a result, the economy has never been more open.
reform measures
1,500
taken since 2012
600+
administrative approvals canceled or
delegated to lower-level offices, meeting targets ahead of schedule
$303 billion
corporate burden
slashed (2013-16)
65%
of restrictive items in foreign investment reduced from 2011
through cuts in taxes and fees
We will grant more powers to pilot
free trade zonesto conduct reform, and explore the opening offree trade ports.
Free Trade Zones
Shanghai
Total: 11
Guangdong, Tianjin, Fujian
Liaoning, Zhejiang, Henan, Hubei,
Sichuan, Shaanxi, Chongqing
in inland provinces
along the coast
of the country's provincial-level areas have FTZs
1/3
5
6
10%
2017
of the country's total foreign investment
2015
2013
We will implement the system of pre-establishment national treatment plus a negative listacross the board.
Negative list
Firstpiloted in the
Shanghai Free Trade Zone
2013
All 11
pilot free trade zones have been set up with it
2018
Nationwide
application
We will significantly ease market access, further open the service sector, and protect the legitimate rights and interests of foreign investors. All businesses registered in China will be treated equally.
Foreign direct investment
$489.4 billion
2013-16
3.1%
annual rising rate
Foreign investment law enactment progresses
We should pursue the
Belt and Road Initiative as a priority...
Give equal emphasis to
"bringing in" and "going global"
Follow the principle of achieving shared growth through discussion and collaboration
Increase openness and cooperation in building innovation capacity
With these efforts, we hope to break
new ground in opening China further through
We will develop new ways of making outbound investments, ... and build up our strengths for international economic cooperation and competition.
RMB
internationalization
5
Non-financial outbound direct investment
$491.5 billion
21.6%
average rising rate
2013-16
On Oct 1, 2016, the RMB joined IMF Special Drawing Right basket.
Yuan was the fifth most-traded currency through the Society for Worldwide Interbank Financial Telecommunication (SWIFT) in August.
Openness brings progress, while self-seclusion leaves one behind.
China will not close its door to the world; we will only become more and more open.
