Chapter One Openness and Opportunity: A Win-Win for China and the World

China’s High Level of Openness Is Crucial to Globalization

Ban Ki-moon, chairman of the Boao Forum for Asia and the 8th UN secretary-general

“A highly open China and the world” is a topic of wide interest in the international community. The Covid-19 pandemic has dealt a heavy blow to global economic growth, as its fallout is far worse than that of the 2008 global financial crisis. Countries around the world struggling to strengthen public health systems, stimulate economic recovery, and maintain stability of the financial market are faced with tough choices.

To emerge from this conundrum, they must uphold multilateralism, free trade, and international cooperation. Without multilateralism or joint actions of the international community, the fight against the pandemic can neither be effective nor efficient.

Multilateralism is a basic principle for establishing a global epidemic prevention system. Regrettably, some countries have not done a good job in this regard. I am delighted to note China’s remarkable results in the areas of epidemic prevention and control and economic recovery. Its economic growth has turned from negative to positive over the first three quarters. As a country with a population of 1.4 billion, its success in epidemic response and economic growth over the past three quarters is not only of great significance for China, but also of special relevance for the world.

On “a highly open China and the world”, I have three points to share with you.

First, China’s high-level opening up has played an important role in global efforts to fight the Covid-19 pandemic. The country has been sharing its experiences related to Covid-19 response and has been offering support to many other countries to the best of its ability. China’s measures to contain the epidemic can be helpful to other countries. It has provided assistance to more than 150 countries and 7 international organizations. In total, it has exported more than 179 billion face masks, 1.73 billion protective suits and 543 million test kits.

Currently, many countries are at risk of a second wave of Covid-19 infections, and to stop this wave requires the joint efforts of all countries. Developing nations have been hit particularly hard, and they need international assistance to shore up their public health systems.

Once vaccines are available, we also need international collaboration to ensure the affordability and accessibility for all. China has signed an agreement with Gavi, the Vaccine Alliance, to join COVAX (Covid-19 Vaccines Global Access), showing a high level of openness and a genuine commitment to the vision of building a global community of health for all.

Second, China’s high-level opening up can contribute to global economic recovery. It has a middle-income group of 400 million people, and its huge domestic demand is a focus of global attention. While proceeding with a high level of opening up, China will inject positive energy into the global economy as more economies in Europe and East Asia have started to share the dividends of the Chinese market.

I highly appreciate what President Xi Jinping emphasized in his keynote speech at the opening ceremony of the Third China International Import Expo, “Our aim is to turn the China market into a market for the world, a market shared by all, and a market accessible to all.”

Third, China’s high-level opening up safeguards multilateralism and promotes global free trade. The pandemic has caused a sharp decline in global trade and investment. The recovery of the world economy relies on strengthening the rule-based multilateral trading system and propagating bilateral, multilateral and regional free trade processes. China has been committed to upholding multilateral trade with the World Trade Organization as its cornerstone and promoting a double development dynamic to boost the domestic and global economy. It will play an important role in promoting global free trade.

In the face of unprecedented changes in the world, I have so much to share with you. But first and foremost, I want to say that I am full of expectations for China’s high level of opening up, and I am confident about its role in upholding multilateralism and global free trade.