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A view of Lujiazui, Shanghai Photo: VCG

China's door will only open wider to the world‌, with measures including continuously expanding institutional opening-up and deepening reforms in foreign trade, foreign investment and outward investment, while the country will persistently advance the Global Development Initiative and promote economic globalization toward greater openness, inclusiveness, benefit-sharing and balanced development‌, Liu Jieyi, spokesperson for the third session of the 14th Chinese People's Political Consultative Conference (CPPCC) National Committee, said at a press conference ahead of the session on Monday.

Liu made the remarks in response to a media question regarding China's plans for deepening high-level opening-up and future strategies for promoting economic globalization, which came from a Brazilian journalist who spoke in Chinese. Liu praised the journalist's Chinese, noting that it epitomizes the achievements of China's reform and opening-up.

Liu said that China will continuously improve the institutions and mechanisms for high-standard opening-up, steadily expand institutional opening-up, deepen the reform of the foreign trade system, and advance the reform of the management systems for foreign investment and outbound investment. 

Efforts should also be made to optimize the layout of regional opening-up as well as the mechanism for promoting the high-quality joint construction of the Belt and Road Initiative, while implementing wider, broader and deeper opening-up, he said. 

Speaking about economic globalization, Liu said that it is an objective requirement of social productivity development, an inevitable outcome of scientific and technological advancement, and an irreversible historical trend that represents the inevitable path for human society's progress‌. He noted that China firmly stands on the right side of history, and its door to the world will only open wider‌.

During the two sessions, the annual meetings of China's national legislature and top political advisory body, measures including high-standard opening-up are expected to be outlined, the Xinhua News Agency reported. 

The European Chamber of Commerce in China said in statement sent to the Global Times on Monday that it expects that there will be continued emphasis on stabilizing foreign investment at the two sessions. 

UBS analysts led by Wang Tao wrote in a note sent to the Global Times that "we expect the government to reiterate its commitment to expanding high-level opening-up, as well as further opening up the domestic market - particularly the services sector - and further integrating into global supply chains."

When it comes to the CPPCC National Committee's role in promoting the country's opening-up, Liu said that the CPPCC National Committee has contributed to enhancing the understanding of China's high-level opening-up, including launching diverse events while carrying out special supervision of the implementation of major initiatives relating to opening-up in the 14th Five-Year Plan period (2021-25) and proposing targeted supervisory opinions over the past year. 

CPPCC National Committee members also made suggestions that turned into actual policy measures, such as relaxation of access restrictions on foreign investment in medical institutions and launching the pilot program for value-added telecom services.

In one of the latest moves, China approved 13 foreign-invested companies for pilot operations in value-added telecom services in Beijing, Shanghai, Hainan and Shenzhen, the Ministry of Industry and Information Technology announced on February 28, China Media Group reported. 

In addition, Chinese authorities in February issued an action plan to stabilize foreign investment in 2025. The plan includes various measures from supporting pilot regions in effectively implementing opening-up policies targeting corresponding areas, to encouraging foreign equity investment in China to attract more high-quality foreign direct investment in the country's listed companies.