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China's Development Stems From Reform and Opening Up: MOC
 

China's development stems from its continued efforts to advance reform and opening up, the Ministry of Commerce (MOC) said on October 11.

The comments were made in response to remarks that attributed China's development to investment from the United States.

"We never deny that investment from the United States helps China's development, but the country's development ultimately relies on its opening up and reform and the endeavors of its people," said MOC spokesperson Gao Feng.

Since 1987 when China started keeping statistics on foreign investment, the country has accumulatively utilized foreign capital of more than $2 trillion. Investment from the United States was $81.36 billion, accounting for 4.06 percent, according to the MOC.

"After the reform and opening up were initiated in the late 1970s, China has continued to open its market to the world based on the principles of mutual benefits and win-win results," Gao said.

Since 2013, China has contributed to more than 30 percent of global economic growth every year on average, according to the International Monetary Fund.

Gao stressed that China would never carry out acts of economic aggression. On the contrary, he said China is willing to share development opportunities, construct an open world economy and boost global economic growth with other countries.

"This year marks the 40th anniversary of China's reform and opening up and China will uphold its basic state policy of opening up to pursue high-quality economic development in open conditions," Gao said.

Gao also said China had always abided by rules and principles of the World Trade Organization and urged the United States not to find excuses for promoting unilateralism and protectionism.

Gao suggested the United States be constructive in taking effective measures to maintain the sound development of China-U.S. economic cooperation and secure a global economic recovery.

(Xinhua News Agency October 11, 2018)

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