China Eyes Blossom of Multidimensional Economic Diplomacy

China looks forward to embracing a blossoming season of its multidimensional economic diplomacy that eyes boosted ties with the rest of the world and better combination of development in traditional and new ways.

In intensive bilateral and multilateral activities in 2013, China's new leadership has put forward enlightening diplomatic conceptions in win-win development such as the Silk Road economic belt and the 21st Century Maritime Silk Road.

The proposals are a sound response to a post-global financial crisis world where countries are made more interdependent than ever on each other.

While many emerging economies around China long for more foreign investments and human resources alike to ensure domestic growth, China, a capable producer of almost all sorts of daily commodities, a stream of new blood in global technology innovation, and also a major holder of foreign currency reserves, has much to offer.

Specifically, China has been actively taking part in the construction of a new pan-Asia railway artery, promoting its high-speed train technology in Thailand, and advancing trade and economic cooperation with landlocked countries in Central Asia, which are rich in oil and gas reserves and are key energy suppliers for a big consumer like China.

The idea of Asia-Pacific connectivity was also presented by China over the past year. According to Yan Jiehe, founder of China Pacific Construction Group, such emphasis on connectivity in a variety of fields among regional economies will be in a full use of the advantages of Chinese infrastructure builders and will be in facilitation of Chinese private businesses' endeavor of going global, should domestic market-oriented policies are right in place.

A larger cake feeds more. "Going global" through established ways and also via new paths like the Silk Road economic belt and the maritime Silk Road, in essence, aims to serve the interests of all sides in their mutually complementary cooperation based on the principles of equality and mutual benefit, so as to guarantee stability and prosperity of the entire region.

At the same time, countries led by the United States are heavily promoting such regional trade agreements outside the WTO framework as the Trans-Pacific Partnership and Transattlantic Trade and Investment Partnership.

Taking an open approach toward those efforts, China also strives to finish its own free trade talks with South Korea and Australia at an early date, push forward an upgrade of its FTA with the Association of Southeast Asian Nations, and boost the China-South Korea-Japan FTA talks -- a clear demonstration of the new Chinese leadership's desire for common and concerted progress.

As China sees opportunities of going to an even larger stage internationally with its well-targeted new strategy of economic diplomacy, Chinese enterprises are also set to better transform themselves under the guidelines intended to cement China's economic innovation.


Source: Xinhua