In recent days, many people have been asking, what can be done to save our exports?Since the beginning of this year, many people have been worried about the continued decline in exports. But what everyone doesn't know is that we have long since stopped looking at the immediate gains and losses, but are looking at the longer-term future, and even the next 10 or even 30 years of higher-level opening-up.
The Outline of the Long-Range Objectives Through 2035, issued in 2020, sets out ambitious targets to enter the medium by 2035Developed countriesRanks. Some experts believe that a per capita GDP of $30,000 is required to meet the standard, which is $2 from $12,819 in 202234 times. At current demographic trends, we are still expected to have about 13500 million people, then our GDP will exceed 40 trillion dollars, which is 225 times. In 2022, our exports are 3$6 trillion, to match the size of GDP in 2035, exports would have to at least double to 7$2 trillion, or about $51 trillion at current exchange ratesRMB。There are still 11 years to go in 2035, exports will double, and the average annual growth rate will need to exceed 6%.In this way, is the current export still important for the time being?It doesn't matter anymore, we have to make major innovations and achieve a truly high level of opening up to the outside world in order to achieve the goal.
In the "Outline of the Long-Range Objectives Through the Year 2035", a special chapter is devoted to describing the strategy of achieving a high level of opening up to the outside world, which shows its importance. Judging from the work that has already been undertaken, we believe that the deployment of the three major strategies of doubling exports is currently being accelerated.
The first major strategy is to promote joint construction."The Belt and Road InitiativePromote the building of a community with a shared future for mankind. Held in Beijing in October 2023The Belt and Road InitiativeThe 10th anniversary summit has presented our fruitful achievements in the past 10 years and the grand blueprint for the future in front of the world, and more than 150 countries around the world have joinedThe Belt and Road InitiativeCo-construction plan. In this year's external ** data,The Belt and Road InitiativeThe countries along the Belt and Road are not only the fastest growing markets in our world, but also the fastest growing markets for foreign investment. The data shows that in the first three quarters, China has been on the co-construction".The Belt and Road Initiative"National Import and Export 1432 trillion yuan, a year-on-year increase of 31%, accounting for 465%。At the same time, our country is foreign to AfricaFinanceclassDirect investment736.2 billionRMB, a year-on-year increase of 173%, of which, in co-construction".The Belt and Road Initiative"The state is notFinanceclassDirect investment1816.900 million yuan, a year-on-year increase of 27%. To achieve the goal of doubling exports, in addition to the normal ** promotion, there must be major innovation, obviously we are replicating to the world since China's reform and opening up, with investmentEconomyAt the same time, it also uses investment to drive exports.
The second major strategy is to promote high-level institutional opening-up. Some experts believe that institutional opening-up is the opening up of rules, regulations, management, standards, etc., and is an opening up on the basis of the flow of commodities and factors, and it is a higher-level opening-up. In the past few decades, we have mainly opened up to the flow of commodities and factors, and in the future, we will need to fully transform into institutional opening.
December 8th,Ministry of CommerceIt introduced the relevant situation of the Shanghai Pilot Free Trade Zone in fully aligning with international high-standard economic and trade rules, and focused on 80 measures in 7 aspects to promote high-level institutional opening-up. Institutional opening-up is not only about "border opening", but also about "opening up within the borders", which requires the extension of a high-standard system of international rules to the domestic market on the one hand, and the transformation of domestic institutionalized regulations into internationally accepted rules and standards on the other hand, so as to break the international and domesticEconomyThe "barriers" of the system to achieve the coordination and integration of the two. In short, institutional opening-up is an overall framework system for building a high-level opening-up for the future, which determines the level of opening-up in the next few decades, which is of great significance.
The third major strategy is to expand high-level financial opening-up and promote the internationalization of the renminbi. FinanceYesThe real economyThe bloodline, forThe real economyThe service isFinanceof vocation,EconomyA high-level opening up of the field to the outside world is inevitableFinanceof high level of openness.
November'sFinanceThe working meeting clearly put forward the "focus on promotingFinancehigh-level opening up", insisting on paying equal attention to "bringing in" and "going out", and steadily expandingFinanceInstitutional opening-up of the sector, enhancing the facilitation of cross-border investment and financing, and attracting more foreign investmentFinanceInstitutions and long-term capital come to China to develop their businesses. At the same time, the meeting also proposed to build and strengthen the two major international communities of Shanghai and Hong KongFinanceStrategic objectives of the Center.
RMBInternationalization is accompanied by the development of our opening up to the outside world and the development of international development, after more than ten years of efforts, radiating vigorous vitality. Nearly half of our total cross-border transactions are currently usedRMBSettlements are carried out, mainly offshoreRMBMarket deposits are close to 15 trillion yuan. At the same time, as of the end of September 2023, China has 30 "The Belt and Road Initiative"The co-construction countries signed bilateral currency swap agreements in 17".The Belt and Road Initiative"The co-construction of the country was establishedRMBLiquidation Arrangements. Therefore, the picture scroll of high-level opening up is very grand, and it is also our grand futureEconomyAn important part of the system.
In short, in order to achieve the goal of doubling exports, China is implementing three major strategies to increase exports. Promoting the Belt and Road Initiative, building a community with a shared future for mankind, promoting high-level institutional opening-up, expanding high-level financial opening-up, and promoting the internationalization of the RMB are all directions we are striving to achieve a higher level of opening-up. Despite the pressures and challenges, we believe that through innovation and hard work, China will be able to double its exports and achieve greater prosperityEconomyDevelop.