In its report presented at the second annual plenary session of the 14th term of the Chinese People’s Political Consultative Conference (PRCPC), which functions as the advisory council of the Chinese government, it was underlined that the country is in favor of an equal and multipolar world.
While Chinese President Xi Jinping and the leaders of the Chinese Communist Party (CCP), which governs the country, attended the session held in the Great People’s Assembly in the capital Beijing, Vang Huning, Chairman of the National Committee of the CRPC, presented the committee’s work report to the assembly.
In his speech at the presentation of the report, Vang emphasized that the country’s reform and opening-up process should be deepened, the goal of high-quality development and social stability should be maintained.
“We advocate a fair and orderly multipolar world and inclusive economic globalization, we will promote a new type of international relations,” the report said, stressing that China, which favors an equal and multipolar world, will promote a ‘new type of international relations’ this year according to the 2024 socio-economic development plan.
The document said China should resolutely adhere to an independent and autonomous peaceful foreign policy, follow the path of peaceful development and strictly adhere to the strategy of mutual benefit and win-win-oriented opening up.
China also opposes despotism, hegemony and tyranny, and advocates equality and justice in international relations.
“The legislative agenda will focus on legislation and amendments to institutionalize high-quality development and economic reforms,” said Lou Chincien, spokesperson for the Chinese National People’s Congress (NPC), expressing confidence in the country’s economic recovery and long-term growth fundamentals.
“China is committed to the process of opening up and reform as a national policy and will continue to develop its foreign relations and exchanges and welcome foreigners and overseas companies. China’s door will always be open to the world and will never be closed.”
Central Bank’s role to be strengthened
For the new legislative term, the CPC is planning a new law to support the private sector and a new customs tariff law, as well as amendments to border health and quarantine laws and improvements to foreigner-related laws.
China also plans to amend the 1980 Organic Law of the State Council, which sets out the working principles of the State Council, China’s cabinet, to strengthen the role of the Central Bank in implementing national policies.
In 2023, China’s exports decreased by 4.6 percent and imports by 5.5 percent, and foreign investments in the country fell on an annual basis for the first time in 25 years.
Global geopolitical tensions, western countries’ approach to reduce the risks associated with economic dependence on China, and changes in supply chains had negatively affected the country’s role as a supply and investment destination.
