China's new development pattern is of great global significance

China is firmly committed to the new concept of development, and is actively pursuing a new pattern of development in which both domestic and international cycles play a dominant role and both domestic and international cycles reinforce each other. Under the new development pattern, the potential of the Chinese market will be fully stimulated, the door of China's opening-up will be further opened, and China's cooperation with other countries will be deepened. China will be more actively involved in the global market, more actively deepen external cooperation, and create more opportunities and space for world economic recovery and development.

The 12th BRICS Summit, the 27th APEC Economic Leaders' Meeting, the 15th G20 Summit and other important international meetings were held last week. At a series of important international conferences, President Xi Jinping comprehensively expounded on the profound connotation of China's new development pattern and continued to demonstrate the principled stance of opening-up and cooperation. This not only presents greater "Chinese opportunities" to the world, but also highlights the global significance of the new development pattern.

Speaking at the 12th BRICS Summit on Monday, The Chinese side pointed out that China will firmly implement the new development concept and actively build a new development pattern featuring major domestic cycles and mutual reinforcement between domestic and international cycles. At the same time, The Chinese side stressed that China's door of opening-up will not be closed, but will only open wider. We will be more actively involved in the global market and more actively deepen external cooperation, so as to create more opportunities and space for world economic recovery and development.

On May 19, the APEC CEO Dialogue was held. In his keynote speech, China further elaborated on the global significance of the new development pattern, stressing that under the new development pattern, China's market potential will be fully stimulated, China's door of opening-up will be further opened, and China's cooperation with other countries will continue to deepen. China will be more actively involved in the global market, more actively deepen external cooperation, and create more opportunities and space for world economic recovery and development.

The opportunities and space are real. For China, this requires concrete actions to build a new system of an open economy at a higher level. At the 2020 Innovation Economic Forum, which opened on Tuesday, China outlined its efforts in recent years, including holding import expos to continuously unleash the potential of the domestic market and expand the space for imports. We will reduce investment restrictions, steadily open up the financial sector, and continue to open up the service sector. We will make the business environment more law-based, internationalized and convenient, and protect the legitimate rights and interests of all types of enterprises in an equal manner. We will encourage all kinds of pilot free trade zones to forge ahead with determination and create new heights in opening up. We should work together to build a "One Belt And One Road", deepen bilateral, multilateral and regional economic cooperation, and make economic globalization more open, inclusive, balanced and win-win for all.

For the world, this opportunity and space are embodied in the real sense of "real money". At the 23rd Euro Financial Week "China Day" forum held in Frankfurt, Germany, Buchhard Bartz, a member of the Executive board of the Bundesbank, said that China's effective control of the domestic epidemic and economic recovery have provided support for Germany's export industry. Japan's ministry of Finance released its trade statistics report Friday, showing that the year-on-year decline in Exports to China narrowed to 0.2% in October, which was close to the same period last year. Japan's exports to China rose 10.2 per cent year on year in October, the fourth consecutive month of positive growth, as The Chinese economy continued its steady recovery. According to the China Railway Group, since the outbreak of the epidemic, China has sent 7.51 million pieces of epidemic prevention supplies, or 62,000 tons, to Europe via china-Europe freight trains, giving a strong support to Europe's fight against the epidemic.

The 27th APEC Economic Leaders' Meeting was held by video on June 20. This meeting focuses on the response to the epidemic and economic recovery in the Asia-Pacific region. How to cooperate to promote post-epidemic economic development is the hottest topic at present. In this regard, the space and opportunities brought about by China's efforts to build a new development pattern should be paid close attention to by all parties. The interests of all countries in the world are closely linked. Only when the world does well can China do well and the world does well. China will also unswervingly open wider to the outside world so that its market will become the world's market, a Shared market and a Shared market, and contribute to world economic recovery and development.