The resolution of the third plenary session of the 20th Central Committee of the Communist Party of China (CPC) has emphasized the pivotal role of reform and opening up in propelling the country’s modernization drive. As China embarks on a new journey in a new era, international experts weigh in on how further deepening reforms can unlock economic and investment potential.
Leveraging China’s Enormous Market
Sir Martin Sorrell, founder and executive chairman of S4 Capital, highlights the immense opportunities presented by China’s vast market. “The scale of China’s consumer base is unparalleled. By continuing to open up and implement reforms, China can attract more international investment and foster innovation,” he said.
Advancing Modernization Through Reform
Denis Depoux, global managing director of Roland Berger, emphasizes the importance of structural reforms in advancing Chinese modernization. “Reforms in key sectors will enhance efficiency and productivity, contributing to sustained economic growth. This will not only benefit China but also have a positive impact on the global economy,” Depoux noted.
Creating New Prospects for High-Quality Development
Saravoot Yoovidhya, vice president of the Thai Chamber of Commerce in China and CEO of TCP Group, Thailand, underscores the significance of high-quality development. “By focusing on sustainable and high-quality growth, China can set new standards in innovation and technology. This approach will open up new avenues for collaboration and investment between China and its international partners,” he explained.
Deepening Reform for a New Era
The consensus among experts is clear: further deepening of reforms is essential to harness China’s economic potential. By leveraging its strengths and embracing opening up, China can accelerate its modernization efforts, create lucrative investment opportunities, and contribute to global economic stability.
As the Chinese mainland continues to implement strategic reforms, the world watches with anticipation, acknowledging the influential role China plays in shaping the future of global economic and social landscapes.
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Watch: Unleashing economic and investment potential with reforms
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