The deputy commerce minister Fang Aiqing said on Nov.22 that China will continue to take the“The Belt and Road” as a guide, to promote the building of trade power and the transformation of opening-up from simple transaction to mutual investment.

During the “China’s Opening-up and Development Forum” held by the Institute of international trade cooperation of Ministry of Commerce in Beijing in Nov.22, Fang Aiqing said that China’s opening-up has three characteristics in the new period, which including the transformation from fragmented opening to institutionalized opening, the transformation from manufacturing-led opening to service-led opening and the transformation from passive opening to active opening.

Fang Aiqing pointed that the world economic and trade power can not only make use of foreign capital, but also invest abroad. In the transformation from simple transaction to mutual investment, we should make use of foreign capital actively and effectively, and speed up the pace of investing abroad, to improve the capability of global resource allocation continuously, and to integrate into the global industrial chain, value chain and logistics chain deeply.

Therefore, we need to lead foreign investment to high-end manufacturing and modern service industry to improve the quality and efficiency of the utilization of foreign capital, make full play of complementary advantage to promote the fusion development of investment abroad and global cooperation on production capacity, especially in the industry of iron and steel, nonferrous metals, building materials, electric power, railway, machinery, etc, promote the construction of investment carrier such as economic and technological development zone, border economic cooperation zone and so on to promote the growth of mutual investment.

Gu Xueming, president of Trade Institute of Ministry of Commerce, said that China need to enhance the level of opening up, promote the development of service industry and manufacturing industry, achieve the mutual promotion of self opening and consultative opening and the collaboration of coastal opening and interior border opening.