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China Needs to Think in All Aspects About the Issue of Opening Up

Released on: 2018-01-05 瀏覽:324次

Recently, the opposition by the Commission on Foreign Investment in the US (CFIUS) has failedChina Ant Financial's 1.2 billion acquisition deal with MoneyGram, a U.S. remittance company. This has made the domestic market feel the "deep malice" of CGIUS. In fact, we should also see China's special role in the global trading market. Due to various factors, China's current opening to the outside world still needs to be strengthened. With the exception of information technology, no industry in China is more protected than the financial industry. In fact, Chinese banks are state-owned and foreign banks are allowed to operate in the country, but various official hurdles mean they have never opened up in China, despite the large investment made by them and despite the official commitments to increase the opening up. In fact, China has enjoyed rapid economic growth during the past 20 years of entering the WTO. However, there are voices in the world repeatedly saying that the more China develops, the more closed its economy is. This is why the United States refused to recognize China's market economy status at the end of last year. On the other hand, for the domestic economy, the development of China's economy has also shown similar problems. While the state-owned enterprises are bigger and stronger, the development environment of private-owned enterprises is getting harder and harder. Recently, the State Council executive meeting also made it clear that to optimize the business environment is a breakthrough point in liberating the productive forces and improving their overall competitiveness. The long-delayed negative list of market access will also be introduced in 2018, which will play an active role in opening up the domestic market economy environment. On the whole, the current level of opening up of China's economy is still far from adequate. This includes not only "regulation and control" of foreign capital but also "possession of domestic resources", which is a pressing issue for current administration.