Decoding
    Adoption of reforms and opening-up
    1978
    1990
    People's basic needs
    are met
    Moderately prosperous society
    2035
    2020
    Modernization 
    basically achieved
    2050
    Great modern
    socialist country
    Goals and achievements
                              Our Party united the people and
    led them in launching the great new revolution
    of reform and opening up,...in embarking on
    the path of socialism with Chinese characteristics.
                               We will adopt policies to promote
    high-standard liberalization and facilitation
    of trade and investment.
    Reforms have deepened in the past five years; as a result, the economy has never been more open.
    reform measures
    1,500
    taken since 2012
    600+ 
    administrative approvals canceled or
    delegated to lower-level offices, meeting targets ahead of schedule
    $303 billion
    corporate burden
    slashed (2013-16)
     
    65%
    of restrictive items in foreign investment reduced from 2011
    through cuts in taxes and fees
                             We will grant more powers to pilot
    free trade zones to conduct reform, and explore the opening of free trade ports
    Free Trade Zones
    Shanghai
    Total: 11
    Guangdong, Tianjin, Fujian
    Liaoning, Zhejiang, Henan,  Hubei,
    Sichuan, Shaanxi, Chongqing
    in inland provinces
    along the coast
    of the country's provincial-level areas have FTZs
    1/3
    5
    6
    10%
    2017
    of the country's total foreign investment
    2015
    2013
                            We will implement the system of
    pre-establishment national treatment plus a negative list across the board.
    Negative list
    First piloted in the
     Shanghai Free Trade Zone
                                 
    2013
    All 11
    pilot free trade zones have been set up with it
     
    2018
    Nationwide
    application
                             We will significantly ease market access, further open the service sector, and protect the legitimate rights and interests of foreign investors. All businesses registered in China will be treated equally. 
    Foreign direct investment
    $489.4 billion
    2013-16
    3.1%
    annual rising rate
    Foreign investment law enactment progresses
                               We should pursue the
    Belt and Road Initiative as a priority...
    Give equal emphasis to
    "bringing in" and "going global"
    Follow the principle of achieving shared growth through discussion and collaboration
    Increase openness and cooperation in building innovation capacity
    With these efforts, we hope to break
    new ground in opening China further through
                                 We will develop new ways of making outbound investments, ... and build up our strengths for international economic cooperation and competition.
    RMB
    internationalization 
    5
    Non-financial outbound direct investment
     
     $491.5 billion
    21.6%
    average rising rate
    2013-16
    On Oct 1, 2016, the RMB joined IMF Special Drawing Right basket.
    Yuan was the fifth most-traded currency through the Society for Worldwide Interbank Financial Telecommunication (SWIFT) in August.
    Openness brings progress, while self-seclusion leaves one behind.
     
    China will not close its door to the world; we will only become more and more open.
    <
    >
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