Building the New System of Open Economy

It is a new system constructed to adapt to economic globalization, promote the mutual promotion of internal and external opening, better integrate bringing in and going out, promote the orderly and free flow of international and domestic factors, efficient allocation of resources, as well as deep integration of the market, and participate in and lead international economic cooperation and competition. This is a scientific summary and sublimation of the practice of opening to the outside world by the Central Committee of the Communist Party of China from a new historical starting point, and an important strategic deployment to promote comprehensively deepening reforms. With the continuous development of world multi-polarization and economic globalization, the international political and economic environment is facing profound changes.

Reform in China has now entered a deep-water zone where tough challenges need to be tackled. The economic structure is in urgent need of in-depth adjustments, various reforms need to be fully promoted, and economic development has entered a new normal. Facing the new situation, new challenges and new tasks, the Third Plenary Session of the 18th Central Committee of the Communist Party of China passed the “Decisions of the Central Committee of the Communist Party of China on Several Major Issues of Comprehensively Deepening Reform”, which clearly put forward “building a new open economic system”, the main point of which is to relax investment access, speed up the construction of free trade zones, and expand the opening of inland borders. On December 17, 2015, the Central Committee of the Communist Party of China and the State Council issued the “Several Opinions on Building a New System for an Open Economy”, further proposing the overall requirements for building a new system for an open economy, specifically, establishing a new mechanism for market allocation of resources, forming a new economic operation and management model, forming a new pattern of all-round opening, and forming new advantages in international cooperation and competition. Build a new open economic system, so that our country's open economy can be organically integrated with its socialist market economic system on a comprehensive, wide-ranging and multi-level basis, and promote each other to become a whole. We need to accurately grasp the new trend of economic globalization and the new requirements of our country's opening to the outside world, and accelerate the construction of a new open economic system, which will help realize our country's “two centenary” goals and the Chinese Dream of the great rejuvenation of the Chinese nation.