Wang Qishan Reiterates Commitment to Economic Opening, Says China’s Market Will Become “the World’s Market”

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Chinese vice-president Wang Qishan has reiterated China’s commitment to further opening of its economy just following the execution of the world’s largest ever trade agreement.

Speaking at the 2020 Innovation Economy Forum (在2020年创新经济论坛) on 16 November, Wang said that China will “firmly and unwaveringly pursue comprehensive expansion of opening.”

“China will make the Chinese market into the world’s market, a jointly shared market and a market for everyone,” said Wang. “China is currently using real actions to expand imports, reduce investment restrictions, and establish a more rule-of-law based, internationalised and convenient business environment.”

“[China] will drive the joint establishment of Belt and Road, deepen multiple bilateral and regional economic cooperative arrangements, and drive economic globalisation towards the direction of greater openness, accommodation and financial inclusion.”

Wang’s remarks arrive just following China’s signing of the Regional Comprehensive Economic Partnership (RCEP) on 15 November with 14 other Pacific Rim countries, including all ten member-states of ASEAN, as well as Japan, South Korea, Australia and New Zealand.

The trade deal is reportedly the world’s largest, encompassing 30% of the global population and economy.

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