Since the reform and opening up, China's opening up to the outside world has made great achievements, realizing the great historical turnaround from a closed and semi-closed economy to an all-round opening up, forming a pattern of opening up from the coastal areas to along the rivers and the borders, and from the eastern areas to the central and western areas in a graded manner, and realizing a pattern of opening up that has been continuously expanding from trade to investment, and from trade in goods to trade in services. It has also realized a pattern of opening up from trade to investment and from trade in goods to trade in services, and has shown a new trend of opening up from small quantity to large quantity and from low quality to high quality. China is playing an increasingly important role in the world economic arena with its new openness.
First, the depth and breadth of opening up to the outside world has been expanding continuously
Marked by the Third Plenary Session of the Eleventh Central Committee, China has begun the historic transformation of opening up to the outside world. The pattern of opening up has been tested and then popularized, and the strategy of step-by-step, multi-level and gradual promotion has been adopted, experiencing a process of continuous expansion and deepening.
(A) opening up from local areas to the national promotion
In 1979, the State Council of the CPC Central Committee decided to implement special policies and preferential measures for foreign economic activities in Guangdong and Fujian provinces, and set up four special economic zones in Shenzhen, Zhuhai, Shantou, and Xiamen in 1980, marking the formal sailing of China's open-door ship.
From the mid-1980s to the early 1990s, the scope of opening to the outside world was gradually expanded from the special zones to the coastal, riverine, and border areas, initially forming a pattern of advancing from the coast to the interior. 1992 opened up the cities along the river and the Three Gorges Reservoir area, the border and coastal areas of the provincial capitals, cities along the border and opened up the 11 inland capitals of the province, such as Taiyuan. In the following years, a large number of eligible inland counties and cities were opened.
In December 2001, China's accession to the World Trade Organization (WTO), the original regional promotion of opening up to the outside world into a full range of opening up to the outside world, China's opening up to the outside world has entered a new stage of development. By now, a regional pattern of opening up to the outside world from coast to coast, from south to north, from east to west, in an all-round way, has basically taken shape.
(2) Opening up from commodity trade to investment and service trade
At the beginning of the reform and opening up, China's opening up to the outside world took "exporting to create foreign exchange" as the entry point, and expanding exports by all means became the basic direction of the policy. In response to the international and domestic situation at the time, Comrade Deng Xiaoping pointed out that opening up to the outside world should not only continue to expand trade in commodities, but also allow foreign investors to come to China to directly invest in enterprises and engage in processing trade. In this way, the original foreign economic and trade exchanges were expanded from the trade field to the investment and production fields. Foreign direct investment, borrowing of foreign debt, financing in international markets and other methods have been widely adopted. With the deepening of opening up to the outside world, the pace of opening up in the field of services continues to accelerate, the rapid development of trade in services.
Second, foreign trade has reached a new level
Foreign trade is an important way and channel for a country to participate in international economic cooperation and competition, and is the core content and starting point of China's opening up. Over the past 30 years of reform and opening up, China's foreign trade has made brilliant achievements.
(a) The scale of trade in goods has increased by more than 100 times
In 2007, China's total import and export trade surged from 20.6 billion U.S. dollars in 1978 to 217.37 billion U.S. dollars, an increase of 104 times. Among them, total exports increased from 9.8 billion U.S. dollars to 1,217.8 billion U.S. dollars, an increase of 124 times; total imports increased from 10.9 billion U.S. dollars to 956 billion U.S. dollars, an increase of 87 times. 1979-2007 import and export trade increased by an average annual growth rate of 17.4%, of which exports increased by an average annual growth rate of 18.1%, and imports increased by an average annual growth rate of 16.7%.
Specially after China's formal accession to the WTO in December 2001, China has actively participated in the process of economic globalization, seized the historic opportunity of accelerating the transfer of international industries, and revitalized the development of foreign trade, winning the fastest and best period of development in its history.
In the period of 2002-2007, China's import and export trade has grown at an average rate of 28.5% per annum, with an average annual growth rate of 28.9% for exports, and an average annual growth rate of 16.7% for imports. In 2002-2007, China's import and export trade grew at an average annual rate of 28.5%, with exports growing at an average annual rate of 28.9% and imports growing at an average annual rate of 27.3%. 2001 saw China's import and export trade total $509.7 billion, and 2004 saw it break through the $1 trillion mark for the first time, and 2007 saw it break through the $2 trillion mark in one go.
In the 58 years since 1950, China's total import and export trade exceeded 20 billion U.S. dollars in 29 years, from 20 billion U.S. dollars to 500 billion U.S. dollars in 23 years, from 500 billion U.S. dollars to 1 trillion U.S. dollars in 3 years, from 1 trillion U.S. dollars to 2 trillion U.S. dollars in just 3 years. 2002-2007 accession to the WTO for 6 years, the total import and export trade has exceeded 197.7 billion U.S. dollars. During the six years of WTO accession from 2002 to 2007, the total volume of import and export trade has exceeded the sum of the 23 years from 1979 to 2001, i.e., from the time of reform and opening up to the time of WTO accession.
Over the past 30 years, import and export trade has changed from a deficit to a surplus, making China leap from a country strapped for foreign exchange to the world's largest foreign exchange reserves. From the reform and opening up to 1993, in addition to a few years of import and export trade has a small surplus, most years are deficit. Since 1994, the import and export trade surplus, and the scale of expanding. 1995 trade surplus exceeded 10 billion U.S. dollars, reached 16.7 billion U.S. dollars. 2005 exceeded 100 billion U.S. dollars, reached 102 billion U.S. dollars. 2007 exceeded 200 billion U.S. dollars, reached 261.8 billion U.S. dollars. 2007, China's foreign exchange reserves from 1978 to only 167 million U.S. dollars rapidly expanding to 1.5 billion U.S. dollars. The foreign exchange reserves of China in 2007 expanded rapidly from a mere 167 million dollars in 1978 to 1.5 trillion dollars.
The rapid growth of import and export trade has continuously improved China's position in world trade, ranking 32nd at the beginning of the reform and opening up, and then ranking 3rd from 2004 to 2007. The proportion of total world trade increased from less than 1% in 1978 to nearly 8% in 2007, making China a truly big trading nation. Among them, in 2007, exports accounted for the proportion of total world exports increased to 8.8%, the world ranking jumped to the second place; imports accounted for the proportion of total world imports also increased to 6.7%, ranked third in the world.
(B) The structure of trade in goods is constantly optimized
From the perspective of the structure of export commodities, in the past 30 years, from mainly primary products to mainly manufactured products, and from mainly labor-intensive products such as textile and light to mainly capital and technology-intensive products such as electromechanical and hi-tech products, the structure of China's exports has been constantly optimized and upgraded. in 1978, exports of primary products accounted for 53.5%, exports of manufactured products accounted for 46.5%, and exports of manufactured products accounted for 6.5%. In 1985, the proportion of primary products and manufactured products was nearly equal, 50.5% and 49.5% respectively; in 1986, the proportion of manufactured products greatly exceeded that of primary products, reaching 63.6%, and the proportion of primary products declined to 36.4%; in 2007, the proportion of primary products and manufactured products further changed to 5.1% and 94%, respectively. In 2007, the proportion of primary products and manufactured goods further shifted to 5.1% and 94.9%, with manufactured goods occupying an absolutely dominant position in China's export commodities.
It is gratifying to see that the proportion of electromechanical products in the total exports of manufactured goods has continued to increase, from 26.4% in 1994 to 42.3% in 2000, and further to 51.9% in 2003 and 57.6% in 2007. The share of high-tech products in total exports was 14.9% in 2000, rising to 25.2% in 2003 and further to 28.6% in 2007. The dominant position of electromechanical and high-tech products in China's export trade is becoming more and more obvious.
From the structure of imported goods, in order to meet the needs of the rapid development of the national economy and the process of industrialization and modernization, the structure of imported goods, resources, basic raw materials and other primary products accounted for the proportion of the obvious expansion of electromechanical products and high-tech products and rapid growth.
In 1985, the proportion of primary products in imports was only 12.5%, and in 2007, this proportion increased to 25.4%. Among them, the proportion of mineral fuels, lubricating oils and related raw materials and non-edible raw materials in total imports increased from 0.4% and 7.6% in 1985 to 11.0% and 12.4% in 2007 respectively. In recent years, soybeans, iron ore, petroleum and other basic raw materials imports have continued to grow significantly.
At the same time, the increasing domestic demand for foreign advanced technology and complete sets of equipment, in the import of manufactured goods, electromechanical products and high-tech products, rapid growth. 2007, China's imports of electromechanical products and high-tech products were 499 billion U.S. dollars and 287 billion U.S. dollars, respectively, were 8.7 times as much as in 1994 and 5.5 times as much as in 2000; electromechanical products The proportion of imports of electromechanical products increased from 49.4% in 1994 to 52.2%, and the proportion of high-tech products increased from 23.3% in 2000 to 30.0%. The rapid growth of electromechanical products and high-tech products not only makes up for the lack of resources and technology for domestic economic construction, but also creates conditions for the adjustment and upgrading of industrial structure.
From the perspective of trade market structure, since the reform and opening up, China's trade partners have reached more than 220, and the pattern of trade market diversification has gradually formed. In particular, with the development of economic globalization and regional economic integration, China's trade cooperation with the three major economies of the United States, the European Union and Japan has flourished, and greater progress has been made in exploring emerging markets such as ASEAN, Russia and India, and the exchanges with other trading partners have developed more rapidly.
In 1998-2003, Japan was China's largest trading partner, with the U.S. and the EU ranking 2nd and 3rd; in 2004-2005, the EU became China's top trading partner, with the U.S. and Japan ranking 2nd and 3rd; in 2007, bilateral trade between China and the EU, China and the U.S. and China and Japan amounted to $356.1 billion, $302.1 billion and $236 billion, respectively, representing an increase of 5.5 percent over 1998, and an increase of 5.5 percent over 1998, and an increase of 5.5 percent over 1998. In 2007, bilateral trade between China and Europe, China and the United States and China and Japan amounted to US$356.1 billion, US$302.1 billion and US$236.0 billion respectively, representing an increase of 5.2, 4.5 and 3.8 times respectively compared with 1998.
In 2007, ASEAN was China's fourth largest trading partner, with bilateral trade amounting to US$202.5 billion, an increase of 7.6 times over 1998. Russia and India are our eighth and tenth largest trading partners respectively.
(C) Trade in services has made great progress
In 2007, the total trade in services increased from 4.3 billion U.S. dollars in 1982 to 250.9 billion U.S. dollars, an increase of 57 times in 25 years, with an average annual growth rate of 17.6%. Among them, exports increased from US$2.48 billion to US$121.7 billion, with an average annual growth rate of 16.9%; imports increased from US$1.87 billion to US$129.3 billion, with an average annual growth rate of 18.5%.
Especially after joining the WTO, China has strictly fulfilled its commitment to open up the field of trade in services, which has greatly promoted the development of trade in services. In the six years since China's accession to the WTO, the average annual growth rate of service trade exports has been 24.4%, which is higher than the world's average growth rate of 13.8% during the same period, and also higher than the growth rate of service trade exports of major countries in the world during the same period. Meanwhile, the structure of trade in services has also been gradually optimized, initially forming a pattern of comprehensive development in communications, insurance, finance, royalties and concessions, computer and information services, consulting and advertising. At the beginning of the reform and opening up, the proportion of traditional service trade exports, such as tourism, transportation and construction, amounted to more than 80%, and this proportion had dropped to 60.8% in 2007.
In 2007, the total trade in services accounted for the proportion of China's total foreign trade rose from 9.4% in 1982 to 10.3%, accounting for the proportion of world trade in services rose from 0.6% to 4%; the world ranked second only to the United States, the United Kingdom, Germany and Japan ranked No. 5, becoming the world's important country in the trade in services, of which exports and imports ranked No. 7 and No. 5 respectively. The value of exports and imports ranked 7th and 5th, respectively.
Third, the utilization of foreign capital has developed rapidly, ranking first among developing countries for many years in a row
The active and effective utilization of foreign capital is an important part of China's reform and opening-up basic state policy, and one of the core contents of opening up to the outside world. The entry of foreign capital has made up for the double gap of capital and technology that has long plagued China, boosted economic growth, increased tax revenues and employment opportunities, and promoted the optimization and upgrading of the industrial structure, which has played an important role in accelerating China's economic development, improving the overall quality of the national economy, and enhancing the core competitiveness of enterprises, and accelerated China's economy's full integration into the international community.
(a) The scale of utilization of foreign capital has been expanding, and foreign direct investment has gradually become the mainstream.
Before 1992, China's utilization of foreign capital is mainly foreign borrowing, especially government loans, foreign direct investment has been on the small side. 1979 to 1991, each year is the foreign borrowing is greater than foreign direct investment, the cumulative total of foreign borrowing during the 13 years up to 52.6 billion U.S. dollars, while the foreign direct investment of 25.1 billion U.S. dollars. 1992, the use of foreign direct investment for the first time more than the foreign borrowing. In 1992, the use of foreign direct investment for the first time exceeded foreign borrowing, and since then, foreign direct investment has grown substantially year by year, becoming the most important way of utilizing foreign capital in China.
From the situation of foreign direct investment, China absorbed only 916 million U.S. dollars of foreign direct investment in 1983, has reached 74.8 billion U.S. dollars in 2007, a 24-year growth of 81 times; by the end of 2007, the country's foreign direct investment totaled more than 770 billion U.S. dollars, with an average annual growth rate of 20.1%, much higher than the growth rate of China's national economy during the same period. Among them, the absorption of foreign investment from 1983 to 1991 is relatively small, the average annual absorption of foreign direct investment of about 2.6 billion U.S. dollars; after 1992 showed a vigorous momentum of development, the absorption of foreign investment in 1992 for the first time exceeded 10 billion U.S. dollars, in 1993 on the 20 billion U.S. dollars step in 1994, over 30 billion U.S. dollars in 1994, three years to cross the three hurdles, and since then, China has become a global investment hot spot of the Since then, China's position as a global investment hotspot has been gradually established, the absorption of foreign direct investment has been steadily expanding the scale of the average annual absorption of more than 45 billion U.S. dollars from 1992 to 2007, an average annual growth rate of up to 19.4%, higher than the average annual growth rate of the global FDI inflow over the same period of 7.5 percentage points.
According to the forecast of the United Nations Conference on Trade and Development (UNCTAD), the global cross-border direct investment flow in 2007 reached a record 1.5 trillion U.S. dollars, of which the developed countries absorbed 1 trillion U.S. dollars of foreign direct investment, and the developing countries nearly 440 billion U.S. dollars. In 2007, China absorbed 74.8 billion U.S. dollars in FDI, which, together with the FDI absorbed in the financial sector, amounted to 83.5 billion U.S. dollars, accounting for 5.4% of global FDI and 19% of that of developing countries. China has been the largest developing country in terms of foreign investment for 15 consecutive years since 1993.
At the end of 2007, there were more than 280,000 foreign-invested enterprises registered in China, with total investment amounting to 2.11 trillion U.S. dollars, and the import and export volume of foreign-invested enterprises in 2007 amounted to 1254.9 billion U.S. dollars, accounting for 57.7% of China's foreign trade import and export volume, and the tax paid was more than 990 billion U.S. dollars, accounting for 20% of the country's tax revenue, and the employment provided was more than 50 million. The number of jobs provided by these enterprises exceeded 5,000,000.
(2) Expanding the way of utilizing foreign capital
From the beginning of reform and opening up to the time before and after China's accession to the WTO, the way of absorbing foreign direct investment in China is relatively single, and it has been dominated by greenfield investment, with very few mergers and acquisitions, and fewer ways of raising capital in the international capital market. Since its accession to the WTO, China has earnestly fulfilled its commitment to join the WTO, opened up the capital market in a gradual, positive and steady manner, improved the relevant laws and regulations, and the internationalization of the capital market is being pushed forward in an orderly manner.
First, qualified domestic enterprises are allowed to list abroad. The Chinese government supports qualified domestic enterprises to list abroad to expand financing channels and participate in international competition. As of the end of April 2008,*** there were 150 domestic companies listed abroad, raising a total of US$110.5 billion, of which 55 enterprises also issued A-shares.
Secondly, it has taken the initiative to implement the Qualified Foreign Institutional Investor (QFII) system and the Qualified Domestic Institutional Investor (QDII) system. At present, the investment quota of QFII has been increased to USD 30 billion, 54 foreign institutions have obtained the qualification of QFII, with an approved investment quota of about USD 10.5 billion, and 5 foreign banks have been approved to carry out the QFII custodian business.
In terms of QDII, 21 fund management companies and 9 securities companies have obtained the qualification of QDII, and 9 QDII fund products and 1 QDII pooled asset management plan have been approved, with an approved investment quota. The QDII program has been approved, and the approved investment quota has reached US$37.5 billion.
Third, the securities industry has been liberalized within the framework of the WTO. As of the end of April 2008, the China Securities Regulatory Commission (CSRC) has approved the establishment of 7 Sino-foreign equity joint venture securities companies and 31 Sino-foreign equity joint venture fund management companies, of which the foreign equity of 15 joint venture fund companies has reached 49%.
Fourthly, we have improved and perfected the policies on foreign investment mergers and acquisitions (M&A). 2006 saw the promulgation of the Provisions on Mergers and Acquisitions of Domestic Enterprises by Foreign Investors, which has led to an overall improvement in China's M&A policies and environment.
By the end of 2007, foreign investors*** had acquired shares of 21,800 domestic enterprises in China, accounting for 7.6% of the total number of foreign-invested enterprises, of which foreign investors had purchased 19,400 Chinese shares of foreign-invested enterprises and 2,373 shares of domestically-funded enterprises; and the real registered capital of the acquired enterprises amounted to US$134.3 billion, accounting for 11.6% of the total real registered capital of foreign-invested enterprises. The real registered capital of the merged and acquired enterprises amounted to 134.3 billion U.S. dollars, accounting for 11.6% of the registered capital of foreign-invested enterprises.
(C) Optimization of the industrial structure of foreign investment
At the beginning of the reform and opening-up period, China's utilization of foreign investment was generally characterized by quantitative expansion. In order to generate foreign exchange for export and bring in foreign investment, governments at all levels provided preferential treatment in terms of land use, taxation, and financing for export-oriented foreign-invested enterprises, which led to the formation of a foreign-investment pattern dominated by labor-intensive processing trade. After accession to the WTO, China has successively revised and improved the relevant policies, promulgated the new Enterprise Income Tax Law and the Catalogue of Guidance for Foreign Invested Industries, abolished the super-national treatment for foreign-invested enterprises; further expanded the opening up of the service industry; and strictly restricted the entry of low-level, high-consumption and high-pollution foreign-invested projects. At the same time, we give full play to the positive role of foreign investment in independent innovation, optimize the regional layout of foreign investment, innovate the way of utilizing foreign investment, actively and steadily expand the opening up of the financial, insurance, telecommunications and other service industries, and expand the use of foreign investment in new areas.
Under the guidance of the new foreign investment policy, the focus of foreign investment from the general manufacturing industry to the development of high-tech industries, basic industries, infrastructure construction, especially in recent years, foreign investment in R & D centers, integrated circuits, computers, communications products, and other high-tech projects has increased significantly; after the opening up of the field of trade in services, business, foreign trade, telecommunications, finance, insurance, real estate and other service industries have been become a new round of foreign investment in hot spots.
The industrial composition of foreign investment has improved significantly, and the proportion of investment in tertiary industry has increased substantially. 2005-2007, the proportion of foreign investment in tertiary industry to the total amount of all foreign investment was 24.7%, 31.6% and 41.4% respectively; the proportion of the secondary industry was 74.1%, 67.5% and 57.3% respectively, showing an opposite trend. Showing the opposite trend of change.
Fourth, the implementation of the "going out" strategy has achieved initial results
The main content of the "going out" strategy is to promote enterprises to go abroad in a variety of ways, such as foreign investment, foreign economic and technological cooperation, and to make full use of the "two markets and two resources". The main content of the "going out" strategy is to promote enterprises to go abroad in various ways, such as foreign investment and foreign economic and technical cooperation, to make full use of the "two markets and two kinds of resources", and to realize the sustainable development of our economy.
(I) The scope of foreign economic cooperation is expanding and its competitiveness is gradually increasing.
Foreign economic cooperation began in the late 1970s, a new thing brought about by the reform and opening up, and has rapidly developed into an important part of China's foreign trade and economic cooperation through continuous efforts.
In 1976, China's foreign contracting labor team for the first time to the international arena, to 1980 **** there are 29 enterprises engaged in foreign engineering contracting and labor cooperation business, the main market is concentrated in West Asia and North Africa. 1981, China's foreign economic cooperation team began to gradually grow, the level of enterprise operations continue to improve, the scale of the business outside the expansion of the comprehensive competitiveness, market diversification strategy began to strengthen. The market diversification strategy has begun to bear fruit. Since 1995, foreign design and consulting business has been carried out, and the field of foreign economic cooperation has been further broadened.
Since the accession to the WTO, foreign economic cooperation has entered the fast track of benign development. From only a few enterprises at the beginning of the reform and opening up, it has developed into a team of more than 1,000 enterprises with complete categories and strong international competitiveness in 2007, and the scope of business has been expanding to more technical fields, with obvious improvement in economic and social benefits. From 2002 to 2007, a total of 486,000 contracts were signed for foreign economic cooperation, with a contract value of 257.7 billion U.S. dollars and a completed turnover of 163.3 billion U.S. dollars, which were 1.9, 2 and 1.8 times the total corresponding projects from 1976 to 2001, respectively.
2007 was a year in which China's foreign economic cooperation made significant progress. The newly signed contracts amounted to 85.3 billion US dollars, and the completed turnover was 47.9 billion US dollars, which was 19.1% and 34.2% higher than that of the previous year; 753,000 people were sent out for various types of labor service. Among them, the turnover of foreign contracted projects was 40.6 billion U.S. dollars, an increase of 35.3% over the previous year. Business in more than 180 countries and regions around the world, capital and technology-intensive electric power, metallurgy, petrochemical, rail transportation and electronic communications and other areas of the project has accounted for half of the total turnover; the number of large projects is growing rapidly. 2007, 49 companies were selected by the U.S. "Engineering News Magazine" (ENR) the world's largest contractors in the top 225, and 14 of them among the top 100.
(2) Strong growth in the scale of foreign investment
China's enterprises began to invest in foreign direct investment in 1979 at the beginning of the reform and opening up. At that time, with the approval of the state, only a few state-owned enterprises, mainly trading companies, went abroad to open representative offices or set up enterprises.
After 30 years of exploration and development, the scale of China's outward investment is still relatively small, but has made positive progress. Since the accession to the WTO, China's outward investment has entered a period of rapid development. 2002 China's outward foreign direct investment of only 2.7 billion U.S. dollars in 2007 has risen to 26.5 billion U.S. dollars, 2002-2007 6 years of average annual growth rate of 25.1%. By the end of 2007, more than 7,000 domestic investment entities have set up more than 10,000 overseas direct investment enterprises.
The field of outward investment has been continuously broadened, and the level of outward investment has been continuously upgraded. At present, China's outward investment presents a diversified development trend, and the investment countries have covered more than 170 countries and regions, mainly concentrated in Asia and Latin America. 2007, Asia accounted for 62.6% of China's outward FDI flow, Latin America accounted for 18.5%, and Europe, North America and Oceania together accounted for 13%.
Outward investment has expanded from a single greenfield investment to cross-border mergers and acquisitions (M&A), equity participation, and overseas listing in a variety of ways. Cross-border mergers and acquisitions have become an important mode of outward investment, mainly in the resource, telecommunication and petrochemical industries, etc. In 2007, outward FDI realized by way of acquisitions and mergers accounted for 23.8% of the total investment flow. A number of overseas R&D centers and industrial clusters have been gradually established, and the construction of overseas economic and trade cooperation zones has made significant progress.
Not only did the extractive industry, manufacturing industry and business service industry continue to increase outward investment, the financial industry has also begun the pilot overseas investment. By the end of 2006, the total overseas assets of the five major state-owned commercial banks, including the Industrial and Commercial Bank of China, amounted to 226.8 billion U.S. dollars. State-owned commercial banks have 47 branches, 31 subsidiaries and 12 representative offices in 29 countries and regions, including the United States, Japan, the United Kingdom, Australia, Russia and Brazil. By the end of April 2008, China had approved 10 securities companies and 6 futures companies to set up branches in Hong Kong, and 31 domestic enterprises were authorized to engage in overseas futures trading for hedging purposes.
By the end of 2007, China's outward FDI stock reached US$117.9 billion, of which US$16.7 billion was for financial enterprises and US$101.2 billion for non-financial enterprises.
V. Multi-Bilateral Economic and Trade Cooperation Achievements
First, the construction of free trade zones has been raised to a strategic level. Free trade zones have become a new form and a new starting point for China's opening up to the outside world, as well as a new platform for realizing mutual benefit***win with other countries. China began to build free trade zones in 2000, as of October 2007, China and Asia, Oceania, Latin America, Europe, Africa, 29 countries and regions to build 12 free trade zones, their exports accounted for more than a quarter of China's total exports. Signed with ASEAN and the implementation of the FTA agreement on trade in goods and services, promoting the "10 +1", "10 + 3" mechanism to deepen.
Second, bilateral, multilateral and regional economic and trade cooperation has been further deepened. China has signed bilateral investment protection agreements with 123 countries, and established more than 180 multi-bilateral joint committee mechanisms with 129 countries and regions and 13 international organizations, which have played an important role in strengthening multi-bilateral economic and trade cooperation.
Third, the establishment of the strategic economic dialogue mechanism, which was formally launched on September 20, 2006, and has so far been held three times, with the two sides reaching a series of important *** understanding and signing a number of agreements. At the same time, China has also established corresponding economic dialogues with Japan, the European Union and ASEAN, strengthening coordination and communication with major economic and trade partners. China and Russia have organized a number of economic and trade activities as part of the "National Year". The SCO has enriched the content of economic and trade cooperation. The China-Africa Cooperation Forum (CACOF) was launched at the Beijing Summit, and eight initiatives on economic and trade cooperation with Africa were implemented. It has also established two mechanisms, namely the China-Caribbean Economic and Trade Cooperation Forum and the China-Pacific Island Countries Economic Forum.
Looking ahead, the task of opening up to the outside world is still very heavy. We need to follow the policy of opening up determined by the 17th National Congress, further expand the breadth and depth of opening up to the outside world, improve the level of the open economy, better combine "bringing in" and "going out", and improve the internal and external linkage, mutual benefit **** win, We will improve the open economic system with internal and external linkage, mutual benefit***win, security and high efficiency, and strive to create and maintain new advantages in participating in international economic cooperation and competition under the conditions of economic globalization.