BUSINESS CHINA DAILY HONG KONG EDITION Tuesday, March 9, 2021
Two Sessions Openness to boost New engines trade, FDI, will sustain spending
By ZHONG NAN [email protected] growth drive China will leverage highlevel openness to promote the dualcir Internal, external opportunities to help culation development pattern, the nation in consolidating momentum which should not only help stimu late domestic consumption but attract foreign resources, the coun By CHEN JIA those still under negotiation.” try’s top commerce official said on [email protected] Lin said it is possible to achieve the Monday. “above 6 percent” growth target this While expanding domestic Commerce Minister Wang Wentao addresses reporters’ queries via video link on Monday in Beijing China will utilize internal and year, with possibility of the actual demand and ensuring the smooth during the ongoing two sessions. WANG JING / CHINA DAILY external opportunities to consoli growth rate coming in at around 8 flow of the internal circulation — date economic growth momentum percent. the domestic cycle of production, in the medium to long term, with For China’s domestic develop distribution and consumption — trade liberalization, Wang said. “The domestic market cannot be He said China should accelerate some new engines playing a key ment, in the next five years, 5G and China will continue to boost both While China is actively consider separated from the global market the digital transformation of for role, Justin Yifu Lin, a policy adviser other related infrastructure will be exports and imports, as well as ing to join the Comprehensive and and external circulation could eign trade to cultivate new business and senior economist, told China the key sectors to boost, said Lin. attract foreign direct investment, Progressive Agreement for Trans boost domestic circulation. This is formats and better position its Daily in an interview. China will emphasize the coordinat thereby strengthening its efforts for Pacific Partnership, or the CPTPP, a key factor of demandside man manufacturers in global supply In the next five years, China will ed development of regions, such as global cooperation, said Commerce in order to move forward with agement,” he said. chains. benefit from the international mar the Yangtze River Delta region and Minister Wang Wentao. reform and openingup across the Sun Yibiao, a member of the Digital trade includes products ket, which is part of the “external cir the BeijingTianjinHebei region. The official said the dualcircula board, the Ministry of Commerce 13th National Committee of the and services delivered in digital culation” under the new “Encouraging investment does not tion paradigm will be the center has conducted a large amount of Chinese People’s Political Con form, such as software and cloud development paradigm, Lin said. contradict with boosting of consump piece of the overall effort and preliminary work and also estab sultative Conference, said China computing, as well as forms of Products and technology arising tion. On the contrary, they have a pos propel China toward sustainable lished informal contact with the should actively participate in dig trade supported by digital technol from China’s comparative advanta itive correlation,” Lin said. It was and highquality growth. parties concerned. ital technologybased trade activi ogies, such as crossborder ecom ges and investment will find their necessary to improve the quality and The new pattern has the domes The CPTPP, which took effect on ties, the tax reform of digital merce, he said. way to overseas markets. efficiency of investment, which is still tic market as the mainstay of the Dec 30, 2018, is a trade agreement products and services under the The national political adviser At the same time, China will con a key driver of economic growth. economy, while domestic and inter among 11 countries: Australia, Bru World Trade Organization rules, said these moves can reinforce tinue to increase imports, such as In the new fiveyear plan, China national markets support each oth nei, Canada, Chile, Japan, Malaysia, as well as take part in the formu the global layout of China’s natural and mineral resources from has outlined a series of projects er. Mexico, New Zealand, Peru, Singa lation of related global rules. ecommerce platforms and manu resourcerich countries, highend which are under preparation. “If the He said China has been pushing pore and Vietnam. Their aggregate In addition to enhancing the pro facturers, and build more over equipment from advanced coun economy shows signals of overheat for the implementation of the GDP accounts for 13 percent of the tection of digital intellectual prop seas warehouses, exhibition and tries as well as some laborintensive ing, we can postpone the invest Regional Comprehensive Eco global economy. erty, China should start with the trade facilities, and service cen products from other lowand mid ment. Similarly, if the growth is nomic Partnership agreement. It is Since the Chinese economy has relatively easytoreach goals such ters to enhance their market pres dleincome countries. In this slowing down, we can accelerate the also actively advancing negotia been deeply integrated into the as the exploration of digital certifi ence. respect, developing pilot free trade projects to stabilize growth.” tions for a tripartite free trade world economy, with more inter cates, and the protection of con Thanks to its pillar role in sup zones will reduce tariffs in certain Lin said when the economic agreement involving Japan and twined interests than ever before, sumer rights and interests to porting the global industrial areas, with a “negative list” indicat growth faces headwinds, it would be South Korea. Besides, the country demandside management is promote the negotiation of new chain, China’s foreign trade ing the available fields for foreign better to increase investment in has been actively joining various another practical solution to stabi digital trade rules within regions, soared by 32.2 percent on a yearly investment, he said. qualified infrastructure projects. free trade agreements and invest lize foreign trade and foreign including economies involved in basis to 5.44 trillion yuan ($837.3 The draft of the 14th FiveYear Plan “I call it a new proactive fiscal poli ment agreements. investment, said Zhang Yongjun, a the Belt and Road Initiative, said billion) in the first two months of (202125) and the country’s develop cy framework which goes beyond All these efforts have helped researcher at the Beijingbased Chi Sun, who is also former viceminis the year, according to latest data ment objectives through 2035 says the Keynesianism. Generally there form a network of free trade zones, na Center for International Eco ter of the General Administration from the General Administration that China plans to further open its are no concerns about bubbles facilitating a high level of global nomic Exchanges. of Customs. of Customs. economy. As a member of the Stand developing during the investment ing Committee of the 13th National process, except in some individual Committee of the Chinese People’s cases. So we need to plan well in a Political Consultative Conference, Lin fiveyear or even longer term, to was part of a special committee ensure there is a reservoir of good Minister: Impetus for highquality manufacturing involved in drafting the plan. projects for investment.” The plan aims to promote deeper In face of sanctions that some By MA SI and ZHONG NAN ucts and services. further improved and strength ments in recent years, it still faces the integration with the global market, countries impose on products from The proportion of the manufac ened,” Xiao said. challenge of being big but not strong, which requires China to participate China, Lin reiterated that “the most China will make efforts to stabi turing industry in China’s GDP has According to Xiao, it takes a long he said, adding many fundamental in various regional economic cooper important thing is to do our own jobs lize the proportion of the manufac gradually declined since 2015. But time to maintain a stable propor capabilities of are still weak and key ation mechanisms, including the well”, and products of high quality turing sector in its GDP, and ensure the bigger background is a continu tion of the manufacturing industry, core technologies are restricted by Regional Comprehensive Economic and low price will always be competi that the sector can be relied upon in ous increase of China’s economic and more measures are necessary other economies. Partnership and the Belt and Road tive. critical times, the top industry reg aggregate, and the nation always to attract capital and talent to the A notable decline of manufactur Initiative, which are “the best ways to “No matter where to develop pro ulator said on Monday. attaches high importance to the sector. ing business in China’s GDP will increase China’s imports and duction, in which country or region, Xiao Yaqing, minister of indus development of manufacturing, Miao Wei, deputy director of the not only drag down the current eco inbound foreign direct investment as it should follow the theory of compar try and information technology, Xiao said on the sidelines of the Economic Affairs Committee of the nomic growth and affect urban well as make Chinese products, tech ative advantage,” Lin said. A compar said more efforts will be made to ongoing annual two sessions. National Committee of the Chinese employment, but will also generate nologies and capital accessible to the ative advantage gives a company the ensure highquality development “The manufacturing industry is People’s Political Consultative Con potential industrial safety hazards, international market,” he said. ability to sell goods and services at a of China’s manufacturing sector the lifeblood of the country’s econo ference, said on Sunday that China and weaken the country’s antirisk To foster more friendly investment lower price than its competitors and and improve the quality of its prod my, and the real economy should be should promote the next level of capabilities and international com environment domestically and over achieve higher profits. integration of the innovation and petitiveness, Miao added. seas, China has completed the talks in One example is that some Chinese industrial chain, and speed up the Under such circumstances, China principle with EU on the EUChina companies are moving their produc improvement of systems and must deepen reform of the scientific Comprehensive Agreement on Invest tion lines on their own to some places mechanisms that are conducive to and technological system, scientifi ment. The country is also actively pro with lower labor costs. The move can highquality development of its cally allocate resources, promote the moting a freetrade agreement among also help other countries, such as manufacturing sector. deep integration of the innovation China, Japan and the Republic of those along the Belt and Road routes, Promoting highquality growth chain, industrial chain, policy chain, Korea. Meanwhile, China is willing to to develop their domestic economies. of the manufacturing industry is a capital chain and the talent chain in participate in the Comprehensive and The migration of some laborinten major strategic task in China’s eco the next stage, he said. Progressive Agreement for TransPa sive industries from China will help nomic development at present and Lei Jun, CEO and founder of Xiao cific Partnership, a trade agreement the destination countries to create in the future, said the former minis mi Corp and a deputy to the 13th that evolved from the TransPacific new jobs, as well as boost their ter of industry and information National People’s Congress, said that Partnership and covers a number of exports and investment, according to technology. In the fourtier struc to promote smart manufacturing, economies in the AsiaPacific and Lat Lin. ture of global manufacturing busi the government should create a sta in American regions. All these aspects The domestic market is expand ness, China is in the third echelon, ble, predictable macro policy envi will enable the world’s secondlargest ing consistently, with internal mar and it will take at least three dec ronment, and promote cooperation economy to enhance external circula ket already accounting for about 83 ades to achieve the goal of becom among enterprises, universities and tion, said Lin. percent in the dualcirculation pat ing a manufacturing powerhouse, research institutes. “Under the framework of the new tern in 2019. The nation will not Xiao Yaqing, minister of industry and information technology, said Miao. development paradigm, one of the close its doors and will remain interacts with media via video link on Monday in Beijing during Even though China’s manufactur Contact the writers at priorities is to implement the signed attractive for foreign investors and the ongoing two sessions. WANG JING / CHINA DAILY ing industry has made great achieve [email protected] agreements and actively promote products, said Lin.
menting the new vision of innovative, green transformation and sustaina Tech firms to play key role in carbon neutrality plans coordinated, green, open and shared ble development of the entire indus development and promoting high trial chain, including upstream raw quality development.” material suppliers,” said Yang, who By HE WEI in Shanghai “Addressing climate change is an the total amount of greenhouse gas research and development of green In his speech to the fourth session is also a deputy to the 13th National and MA SI in Beijing inherent requirement of China’s es emitted by enterprises, groups, or technologies through innovative of the 13th National People’s Con People’s Congress. sustainable development,” he said individuals within a certain period applications in green and carbon gress on Friday, Premier Li Keqiang “Big data platforms are also need Technology enterprises have a in a written statement to China Dai of time offset with the amount neutrality data centers and encour said that the country will strengthen ed to verify industrial companies’ key role to play in the nation’s ly. “And it shows China’s responsible reduced through afforestation or aging technology companies to set toplevel design along with overall green data and evaluate their prac pledge to achieve carbon neutrality, image to shoulder international other measures for energy saving up their respective carbon neutrali coordination and planning, and for tices,” Yang said. lawmakers associated with the sec responsibilities and promote the and pollution reduction to realize ty goals. mulate guidelines for reaching peak The senior executive said such tor said. building of a community with a netzero carbon emissions. Tencent announced its own ver carbon emissions and achieving car efforts are of great practical signifi Pony Ma, a national legislator from shared future for humanity.” Ma cited a number of concrete sion of a carbon neutrality plan in bon neutrality. cance for companies to establish a Guangdong province who is also He said the country should strive approaches to focus on green tech January, in which it proposed the use Yang Yuanqing, CEO and chairman green and lowcarbon development chairman of Tencent Holdings Ltd, to master lowcarbon technologies nologies, such as optimizing the lay of artificial intelligence and cloud of Lenovo Group Ltd, called for more path and to achieve highquality said carbon neutrality will enable such as energy internet and carbon out of data centers, encouraging computing technologies to reduce efforts to encourage companies to for development of the Chinese econo companies to formulate their own capture, utilization and storage enterprises to invest in projects the company’s carbon footprints. mulate shorttolongterm goals to my. energy conservation and emission (CCUS). Also, the combination of related to renewable energy and dis “Promoting carbon neutrality is a reduce their carbon footprints. reduction plans. Technology research economic activities and the indus tributed energy systems, advancing positive manifestation of technolo “By mapping the routes to carbon Wu Miaomiao in Shanghai and innovation in this sector should trial internet should be strength carbonneutral infrastructure and gy companies’ social responsibility,” neutrality for the consumer elec contributed to this story. be encouraged as it will enhance the ened in order to move toward a low promoting the marketbased mech he said. tronics sector and the information country’s overall strength in lowcar carbon, green and circular economy. anism of carbon neutrality. “The carbon neutrality goal is also and communication industry, for Contact the writers at bon technologies. Carbon neutrality largely refers to He also suggested accelerating an important manifestation of imple instance, we can guide and drive the [email protected]