In 2017, China's trade-weighted average tariff was reduced to 4.4 percent, fairly close to 2.4 percent of the United States and 3 percent of the European Union, Vice Minister of Commerce Wang Shouwen said.
A more open China has provided the world with more investment opportunities and contributed to global growth.
Foreign direct investment in the Chinese mainland rose 7.9 percent to reach 878 billion yuan (138.6 billion U.S. dollars) in 2017, an all-time high.
China has given zero tariff treatment on 97 percent of tariff lines to the least-developed nations that have diplomatic relations with China. China has become the biggest export market for these least-developed countries, accounting for 20 percent of their total exports.
China has maintained an annual growth of 7.1 percent over the past five years, contributing over 30 percent of global economic growth, more than the contribution made by the United States, the eurozone countries, and Japan combined, according to the World Bank.
More importantly, China has contributed to the safeguarding of international trade rules, setting an example for the world to follow.
As a beneficiary, active participant and contributor of globalization, China has no reason to backtrack from opening up in the future.
The country will remain committed to its path of opening-up, continue with its non-stop efforts to streamline administration, lower taxes and reduce fees, enhance policy transparency, and strengthen the protection of property rights.
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