Opening-up still hallmark of the country: China Daily editorial

With its foreign trade increasing 27.1 percent year-on-year last month, and the annual festival season about to begin, the growth momentum of China's foreign trade looks set to extend into the fourth quarter.

In the first 10 months of this year, the total volume of China's goods trade exceeded 30 trillion yuan ($4.69 trillion), up 22.2 percent year-on-year, the General Administration of Customs said on Sunday.

Robust foreign demand, increasing imports of coal and natural gas, and global liquidity have all helped sustain the surge in China's foreign trade. And since the COVID-19 pandemic is still taking its toll on some Southeast Asian countries, China has filled the vacuum as a major exporter of labor-intensive products, which registered a 10 percent growth from January to October.

The other export drivers are mechanical and electrical products whose exports increased 22.4 percent in the same period, indicating the country is pressing ahead with its industrial upgrading while retaining its strength in labor-intensive sectors.

As for imports, the ongoing fourth China International Import Expo in Shanghai is demonstrating the country's commitment to opening its door wider to the world and its readiness to share its market opportunities with the world to boost the global recovery.

This year marks the 20th anniversary of China joining the World Trade Organization. Over the past 20 years, China has contributed tremendously to the world economy and trade by tapping into its huge population dividend, opening up its market to the world and sharing its development opportunities with countries, including the least-developed ones. In the process, China has become an indispensable part of the global supply chains.

The country's focus is now on upgrading its trade structure, boosting its industrial and consumption upgrading and promoting its trade in services, as President Xi Jinping emphasized in his keynote speech, via video, at the opening of the Shanghai expo on Thursday.

By promoting cross-border e-commerce, conducting stress tests for high-standard opening-up in pilot free trade zones and ports, shortening the negative list for trade in services and investment, and engaging in international cooperation on green and low-carbon development and the digital economy, the country will continue to be a key driver for global development that is more inclusive and sustainable.

It goes against the overall trends for the United States to try and isolate the world's second-largest economy, largest goods trader and the most promising service trader from the global economic system and world market. That headwind the country has encountered will only be temporary as it has prompted it to accelerate its opening-up to and integration into the world market.