Opening-up in sync with solving trade row
The MoU can be seen as the beginning of Beijing’s swift implementation of the consensus reached during the just-concluded summit between Chinese President Xi Jinping and his US counterpart Donald Trump. Beijing will implement specific items as soon as possible, a spokesperson of China’s Ministry of Commerce said on Wednesday.
It is welcome to see the Chinese government taking proactive actions. Carrying out the consensus of the Xi-Trump summit is a common wish of Chinese society. Ending or greatly alleviating the China-US trade war is seen by the most Chinese people as a strong measure to promote opening-up.
The MoU issued by the NDRC and other departments is obviously not a temporary Band-Aid, but a move which has been contemplated for a long time. The timing of this announcement showed that China’s reform and opening-up can be coordinated with addressing Sino-US trade disputes. Making the best use of the circumstances is a long-term experience of China’s reform and opening-up. Against the backdrop of the trade war, Beijing should do the same.
Over the years, China has been committed to promoting the protection of intellectual property rights. It goes without saying that the reality of China’s intellectual property protection still lags behind developed nations. The country is solving the problem thoroughly this time. This is not only about working out trade disputes with the US, but also has great significance to sort out the internal order of China’s economy.
A number of Chinese companies like Huawei have achieved world-class competitiveness. Many Chinese enterprises are capable of participating in global competition. Excessive market protection encourages laziness and opportunism. Gradually lowering protection thresholds will push more Chinese companies to compete in developed markets. This is the only way for China’s economy to grow stronger.
With or without pressure from the Washington-launched trade war against Beijing, strengthening the country’s intellectual property protection and lowering market access thresholds are must-dos for the promotion of opening-up.
Chinese people should have sufficient confidence. China, as an increasingly open market, has an irresistible attraction to the entire world including the US. The more Beijing opens itself up, the more confidence it has to negotiate with the outside world