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BusinessDesk Publishes a Signed Article by Ambassador Wu Xi Entitiled New Opportunities for China-New Zealand Cooperation as China's opening up advances

On 21 November 2020, the BusinessDesk published a signed article by Ambassador Wu Xi entitled New Opportunities for China-New Zealand Cooperation as China's opening up advances.

Recently, The third China International Import Expo (CIIE) was held in Shanghai at the backdrop of COVID-19 pandemic. Nearly 400,000 visitors from across the world signed up for the event with 80 percent of the world's top 500 companies. The expo has shown 411 new products, technologies and services with deals reached for more than 72 billion U.S. Dollars on goods and services, up 2.1 percent from last year. New Zealand entrepreneurs had a strong presence in the expo, with more than 30 kiwi companies showcasing agricultural, health and medical products.

In his speech at the opening ceremony of the expo, President Xi Jinping pointed out that China is committed to turn its market into a market for the world, a market shared by and accessible to all, so as to bring more positive energy to the global community and economic recovery. China will nurture new ways to open up, pursue creative ways to grow foreign trade, continue to improve its business environment, and pursue deeper bilateral, multilateral and regional cooperation.

President Xi's exposition reflected China's blueprint for national economic and social development in the coming 5 to 15 years that has been recently set out. According to the blueprint, China will continue implementing the new concept of development featuring innovative, coordinated, green, open and shared development, promoting high-quality development, deepening supply-side structural reform, and accelerating the building of a modern economic system with reform and innovation as the key driving forces.

China will speed up efforts to foster a new development paradigm called "dual circle", with domestic circulation as the mainstay, and domestic and international circulations reinforcing each other. New mechanisms will be put in place to build an open economy of a higher standard. China will remain committed to a win-win strategy of opening-up. It will seek development impetus from the world and contribute more to the world with its own development.

The "dual circle" is not a development loop behind closed doors, but more open domestic and international circulation. We will pursue this vision not only to meet China's own development needs, but also for the greater benefit of people in all countries. China will steadfastly expand all-round opening up and explore more efficient ways to connect domestic and foreign markets and share factors of production and resources.

By setting out our goals for the next 5 to 15 years, China is also providing new opportunities for countries across the globe to enjoy win-win results and common prosperity. There will be huge potentials and opportunities for China-NZ cooperation.

Despite the significant impact of COVID-19 pandemic, NZ goods export to China from February to September this year were NZD 10.12 billion, an increase of 17.9 percent compared to the same period in 2018. This shows the robust demand in the Chinese market and the great resilience of bilateral trade.

According to the blueprint, China will become a high income country by 2025, reaching the level of the mid-developed countries by 2035. The ever growing population of high-income consumers will bring increased demand for high quality and healthy food. This presents great potentials for New Zealand enterprises.

The upgrade of the China-New Zealand Free Trade Agreement and the conclusion and the recent signing of Regional Comprehensive Economic Partnership (RCEP) will create even greater opportunities for China-NZ economic cooperation in new areas such as e-commerce, medical care and health, and elderly care. It will also grant high-quality products from NZ easier access to the Chinese market with 1.4 billion people.

A more open Chinese market with more accessible financial service industry and free trade zones like Hainan will enable a new era of cooperation in the service industry between China and New Zealand. A modernized governance system and capacity in China will create a more favorable business environment for New Zealand enterprises. They will enjoy greater ease of doing business and their interests will be protected more effectively.

In addition to economic cooperation, China's commitment to building a "beautiful China" will broaden our common interests in addressing Climate Change challenges. China is determined to promote "ecological civilisation", and balanced and sustainable development. President Xi Jinping has announced that China aims to see its carbon dioxide emissions peak before 2030 and achieve carbon neutrality-net zero carbon emissions-before 2060. China and New Zealand should strengthen our partnership in addressing the challenges of climate change.

In the years ahead, China will continue to hold high the banner of peace, development, cooperation and mutual benefits, strive to create a favorable external environment and promote the building of a new type of international relations and a community with a shared future for mankind. China will continue to take an active part in international cooperation against Covid-19, firmly defend multilateralism, safeguard world peace and stability, promote global sustainable development, and vigorously promote opening-up for mutual benefits.

Both China and New Zealand are beneficiaries of the current international order with the UN Charter as the core, and the multilateral trading system. Both countries have a great stake in upgrading and advancing the global governance system. Both countries will benefit greatly from building a community with a shared future for humanity.

China and New Zealand have created a number of 'firsts' in China's relations with the developed countries. The two countries may well grasp new opportunities to create even more new 'firsts'. I am looking forward to working with New Zealand colleagues and friends in various circles to explore new opportunities of bilateral cooperation and push our bilateral relations to a new high.

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