Expo aims to build an open world economy

The ongoing second China International Import Expo in Shanghai proves China remains committed to further opening up in order to build an open world economy in the new era. This is in line with China's pursuit of a new round of high-level opening-up and to further widen market access to the rest of the world.

As President Xi Jinping said in his keynote speech at the opening ceremony on Tuesday, China would open up wider and wider. He announced five measures to further promote high-level opening-up, including further opening up of the market, improving the structure of opening-up and the business environment, and continuously deepening bilateral cooperation and promoting shared development of the Belt and Road Initiative.

Since the launch of reform and opening-up four decades ago, the international division of labor has brought China huge development opportunities and benefits. But despite export-oriented and high-speed growth helping China to become the world's second-largest economy, this mode of development is not sustainable in the long run.