The fact that China will continue to open up to the outside world was highlighted at the 19th National Congress of the CPC that concluded on Oct 24, while Xi and other central leaders have also reiterated it on earlier occasions. This shows opening-up will play a vital role in China's efforts to meet its goal of modernization and national rejuvenation.

After introducing members of the Standing Committee of the Political Bureau elected at the First Plenum of the 19th CPC Central Committee on Oct 25, Xi said he was convinced that reform and opening-up will "complement and reinforce each other" and be carried through to realize the Chinese Dream of national rejuvenation.

In his report to the 19th Party Congress, Xi also highlighted the change in Chinese society's "principal contradiction", which has evolved to be that between unbalanced and inadequate development and people's ever-growing needs for a better life. To gradually resolve this contradiction, opening-up will play an irreplaceable role, just as it has done in China's miraculous economic growth over the past almost four decades.

An agriculture-based country before the launch of reform and opening-up in 1978, China today is the world's second-largest economy with mature, modern infrastructure, industries and commercial enterprises, and has lifted more than 800 million people out of poverty. Of course, in the early years of reform and opening-up, foreign enterprises contributed their share to China's growth through funds, technologies and management experience.

China has also shown great sincerity in pushing forward opening-up and seeking outwardlooking development. The Fifth Plenum of the 18th CPC Central Committee two years ago specifically endorsed development ideas such as innovation, coordination, green growth and openness. That the foreign entrepreneurs Xi met on Monday included Apple Inc CEO Tim Cook and Facebook founder Mark Zuckerberg is proof that China will "participate in and promote economic globalization, (and) develop an open economy of higher standards".

Accordingly, changes are called for in the old strategy of relying heavily on the exports of low-value-added products and inbound investment. When it comes to market entry, national treatment and the negative list, China is right to look to international standards. In fact, in this way China can open up wider, so can its service sector, and better protect foreign enterprises' legal interest.