Full Text: Report on the Work of the Government

7. Unswervingly opening wider to the outside world and comprehensively improving the performance of the open economy

We actively responded to drastic changes in the external environment, promptly introduced policies and measures to stabilize external demand, and implemented the strategy of diversifying markets.

During the past five years, China's import and export volume grew by an annual average of 12.2 percent and rose from third to second place in the world. China has become the largest exporter in the world, and its international market share increased by over two percentage points over 2007. China's import and export mix improved, and its status as a trading power was further strengthened.

Over the past five years, we utilized US$ 552.8 billion of foreign investment, considerably improved the structure and distribution of this investment, and made much better use of it.

We quickened the implementation of the "go global" strategy and encouraged enterprises of various types to invest and operate overseas. Non-financial outward direct investment increased from $24.8 billion in 2007 to $77.2 billion in 2012, growing at an average annual rate of 25.5 percent. This turned China into a major overseas investor country.

Opening up vigorously stimulated China's economic development and structural improvement, brought in advanced foreign technologies and managerial expertise, and increased employment and workers' income, and also made an important contribution to global economic recovery.