Reform, Opening-up Mutually Reinforced
By sticking to the policy of opening up, China made a choice that greatly benefits its own economic growth as well as the rest of the world.
Experts believe China's resolve to open up wider to the outside world will create a new impetus and bring fresh air to its reform efforts, and as a result, will eventually boost its socio-economic development and improve the livelihood of its people.
"Stimulating the internal impetus to growth through promoting opening up is an important approach to deepening structural reforms," said Du Benwei, a deputy of the NPC, the country's legislature.
"Opening up and reform are actually like two wings of a bird or two wheels of a bicycle, they can interact, promote and reinforce each other," Du said.
The government report said the supply-side structural reform will be given priority in the country's development, and reform efforts will center on a variety of areas, including streamlining administration, reducing taxes, further expanding market access, and reducing the ineffective supply while expanding the effective supply.
"China's endeavors to deepen reforms, improve government efficiency and encourage innovation and entrepreneurship have had positive impacts on the economic sector," Zhang said.
"In coming months, we are going to see a China with enormous dynamism," said Ignacio Martinez Cortes, a professor at the Center for International Relations at the National Autonomous University of Mexico (UNAM).
Those measures and the 6.5-percent economic growth target set for 2017 "aim for sustainable development," Martinez told Xinhua in a recent interview.
Meanwhile, China's opening-up endeavors are generating positive spillovers for the entire world. In today's highly interconnected global economy, China's opening-up policy has helped solidify its role as a key engine for global growth.
China's economic performance contributed more than 30 percent of global economic growth, placing the country ahead of many others.
Its non-financial outbound direct investment increased 44.1 percent year-on-year to 170.11 billion U.S. dollars in 2016, and Chinese companies invested in 7,961 overseas enterprises in 164 countries and regions in the past year, according to the Ministry of Commerce.
China's economy would continue to be the growth engine and stabilizer of the world economy, said Bambang Suryono, an Indonesian scholar and president of the Jakarta-based think tank Nanyang ASEAN Foundation.
Source: Xinhua