China will invite businesses from all over the world to invest in the nation and participate in the benefits of its development as it transitions from rapid growth to quality development, according to a senior official from the top economic planning bureau of the nation on Monday.

At a press conference for the ongoing 20th Congress of the Communist Party of China, the most significant political event of the year, Vice Chairman of the National Development and Reform Commission (NDRC) and member of the CPC Central Committee Zhao Chenxin stated, “China will open the door wide open.”
According to Chao, the dual-circulation model, which focuses on the home market and strengthens both the internal and foreign markets, does not imply that China wishes to abandon its strategy of opening up to the rest of the world or even pursue a self-sufficient economy.
The new development model should not be a closed home circuit, but rather an open dual circulation encompassing domestic and overseas markets, as Chinese President Xi Jinping has stressed numerous times.
According to Chao, China’s economy has been tightly interwoven with the world economy for a long time, and the domestic and international markets are dependent on one another.

Source: Prnewswire