Regarding the expansion of high-standard opening-up, the 15th Five-Year Plan proposal made important deployments in four areas, including actively expanding independent opening up, promoting innovative trade development, expanding space for bilateral investment & cooperation, and co-building the Belt and Road Initiative (BRI) with high quality, Wang Wentao, Party Secretary and Minister of the Ministry of Commerce, said.

Of which, the authorities will promote balanced development of import and export, intensify efforts to expand imports, and create the 'export to China' brand, which will meet the needs of industrial transformation and upgrading, as well as better satisfy the people's aspirations for a good life.

China will actively expand service consumption, adhere to opening up further both domestically and internationally, focusing on relaxing access and integrating business formats to expand service consumption, Wang added.

The authorities would also promote the bulk consumption of durable goods and advance pilot reforms in auto circulation consumption, expanding auto consumption across the entire chain and promoting the consumption for the renewal of home appliances.
~

AASTOCKS Financial News
Website: www.aastocks.com

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