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independent.co.uk

China's Opening-Up Drives Global Growth

China's commitment to high-level opening-up is driving global economic growth, despite global downward trends in openness. Business leaders express optimism about China's long-term prospects.

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United Kingdom

EconomyChinaUkInvestmentTradeGlobalization

Chinese Academy Of Social SciencesResearch Centre For Hongqiao International Economic ForumUnited Nations Industrial Development OrganisationJohnson ControlsZespri

Qu WeixiZhang YuyanCecilia Ugaz EstradaAnu RathnindeJason Te Brake

What is the significance of China's increasing openness index?: China's openness index increased to 0.7596 in 2023, up from 0.6789 in 2008, signifying progress in deepening reform and expanding high-level opening-up. This commitment to openness is seen as a key driver of global economic growth and fostering win-win outcomes.
How has China's high-level opening-up impacted global economic governance?: Despite a global downward trend in openness, China's high-level opening-up has spurred reforms in global economic governance, contributing to a diversified and stable international economic framework. This is achieved through active participation in global industrial division and strengthening multilateral, bilateral and regional economic cooperation.
What is the overall trend of global value chains according to the World Openness Report 2024?: The World Openness Report 2024 highlights that global value chains have continued to expand despite setbacks, with the share of foreign added value in global exports reaching a record high of 24% in 2022. This shows that economic globalization has not fundamentally reversed despite recent shocks.
What is the sentiment of global entrepreneurs and businesses regarding China's economic prospects?: Global entrepreneurs and business leaders express optimism about China's long-term growth prospects. Companies like Johnson Controls and Zespri highlight the favorable business environment and opportunities presented by China's opening-up and innovation, leading to significant growth in their respective markets.
How successful was the 7th China International Import Expo (CIIE) in attracting international participation?: The 7th China International Import Expo (CIIE) attracted about 3,500 overseas exhibitors, including a record number of industry leaders and Fortune Global 500 companies. This demonstrates continued international interest and participation in the Chinese market despite global economic uncertainty.

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China's Opening-Up Drives Global Growth

China's commitment to high-level opening-up is driving global economic growth, despite global downward trends in openness. Business leaders express optimism about China's long-term prospects.