Xi Attaches 'Great Importance' to Private Economy - China's Development Philosophy Now a Global Public Good? - Wang Yi's Multilateralism Pitch at UNSC - 20-Point Plan on Foreign Investment
Here are the reports on articles that I found worth reading in the People’s Daily on Thursday, February 20, 2025.
Page 1: There’s a commentary drawing from Xi Jinping’s speech at the meeting with private entrepreneurs. It says that “supporting the development of the private economy is a consistent policy of the Central Committee of the Communist Party of China, and promoting the growth and strengthening of the private economy is a long-term strategy.” 民营经济是国民经济的重要组成部分，支持民营经济发展是党中央的一贯方针，促进民营经济发展壮大是长久之策.
It reiterates the “two unswervings” 两个毫不动摇, and then adds:
“China’s private economy has already reached a considerable scale and holds significant weight, providing a solid basis for promoting high-quality development. In terms of scale, there are over 55 million registered private enterprises nationwide, accounting for more than 92% of all enterprises. In terms of innovation capability, the private economy contributes over 70% of technological innovation achievements, making it a key driver of China’s technological innovation. From domestic AI large models empowering industrial chains to humanoid robots dazzling the world, these achievements reflect the significant enhancement of the private economy’s scale, innovation level, and market competitiveness. As a vital force in advancing Chinese-style modernization, private enterprises will undoubtedly play a crucial role in achieving high-level technological self-reliance and fostering high-quality development.” 看发展基础，现在我国民营经济已经形成相当的规模、占有很重的分量，推动民营经济高质量发展具备了坚实基础。从规模数量来看，全国登记在册民营企业数量超过5500万户，民营企业在企业总量中的占比在92%以上。从创新能力来看，民营经济贡献了70%以上的技术创新成果，成为我国科技创新的重要主体。从国产AI大模型赋能产业链，到人形机器人惊艳全球，都印证着民营经济规模实力、创新水平、市场竞争力的大幅提升。作为推进中国式现代化的生力军，民营企业必将在实现高水平科技自立自强、推动高质量发展中发挥所长、蓄势扬帆.
It adds:
In regard to the development guarantee, the ‘Opinions of the Central Committee of the Communist Party of China and the State Council on Promoting the Development and Growth of the Private Economy,’ introduced in 2023, covers various aspects such as continuously optimizing the development environment for the private economy, increasing policy support, and strengthening legal protections. Since last year, a series of reform measures from improving long-term mechanisms for private enterprises’ participation in major national projects, enhancing financing support policies, and regulating administrative inspections related to enterprises, to accelerating the legislative process of the Private Economy Promotion Law, have been effectively implemented following the deployments of the Third Plenary Session of the 20th Central Committee of the Communist Party of China. The socialist system with Chinese characteristics has several significant advantages, and the continuous improvement of the socialist market economy system and the legal system with Chinese characteristics will provide even stronger guarantees for the development of the private economy. 看发展保障，2023年出台的《中共中央国务院关于促进民营经济发展壮大的意见》涵盖了持续优化民营经济发展环境、加大对民营经济政策支持力度、强化民营经济发展法治保障等方面。去年以来，从完善民营企业参与国家重大项目建设长效机制，完善民营企业融资支持政策制度，到规范涉企行政检查，再到加快推进民营经济促进法立法进程，党的二十届三中全会部署的各项改革举措正在落地落实。中国特色社会主义制度具有多方面显著优势，社会主义市场经济体制、中国特色社会主义法治体系不断健全和完善，将为民营经济发展提供更为坚强的保障.
The final bit essentially reiterates this from Xi’s reported remarks that the “difficulties and challenges currently facing the development of the private economy are generally occurring in the process of reform and development, industrial transformation and upgrading. They are local rather than universal, temporary rather than long-term, and surmountable rather than being unsolvable. It is necessary to align thoughts and actions with the Party Central Committee’s assessment of the domestic and international situation, and with the Party Central Committee’s decisions and arrangements for economic work.”
Another report on the page discusses the conversation at the symposium with private entrepreneurs. It offers some useful data points:
There are more than 420,000 private enterprises among the national high-tech enterprises, accounting for more than 92% of the total
Private enterprises account for more than half of the three new products exports
There are now 34 Chinese private enterprises, up from 28 in 2018, in the list of the Fortune Global 500.
The report then offers some interesting quotes from Xi.
“Breaking through shackles to forge a new path, singing along the way through storms and hardships. Having taken on local leadership roles at the beginning of the reform and opening-up era, Comrade Xi Jinping has a deep understanding of the arduous journey of China’s private economy development. During the 2020 National Two Sessions, General Secretary Xi Jinping once reflected: ‘Private enterprises have grown in the fields of China’s hope. At the beginning, it was a barren field, with one seeking survival in the cracks. China has forged the path of private enterprise development, how difficult it has been! This is precisely a path that was arduously blazed under the socialist system with Chinese characteristics’. (Xi’s) long-term work experience in provinces with developed private economies has cultivated a profound understanding of private enterprise development. ‘I have consistently supported private enterprises, and I have worked in places where the private economy is relatively developed’. Along the way, Comrade Xi Jinping has always attached great importance to supporting the healthy development of the private economy and cared about the healthy growth of private entrepreneurs.” 冲开桎梏闯新路，一路风雨一路歌。在改革开放之初走上地方领导岗位的习近平同志，对我国民营经济发展的艰辛历程有着深切体会。 2020年全国两会期间，习近平总书记曾这样感慨：“民营企业成长在中国希望的田野上。开始是一片荒芜的田野，在夹缝中求生存。中国走出了一条民营企业发展的道路，何其艰难！这也恰恰是在中国特色社会主义制度下筚路蓝缕开出的一条路。” 长期在民营经济发达省份工作的经历，积淀了对民营企业发展的深刻认识。 “我是一贯支持民营企业的，也是在民营经济比较发达的地方干过来的。”一路走来，习近平同志一直十分重视支持民营经济健康发展，关心民营企业家健康成长.
The article then reiterates this comment from Xi at the symposium:
“The basic policies and guidelines of the Party and the state for the development of the private economy have been incorporated into the system of socialism with Chinese characteristics, and will be adhered to and implemented consistently. They cannot and will not change.”
It adds:
“In the current development process of the private economy, there are some difficulties and challenges: the impact of a new round of technological revolution and industrial transformation; difficulties caused by changes in the external environment; some enterprises engaging in blind diversification or facing poor internal management; and the need for stronger implementation of relevant policy measures...How should we view the current difficulties and challenges? How should we respond?
At the symposium, Xi Jinping emphasised that some difficulties and challenges currently facing the development of the private economy are generally occurring in the process of reform and development, industrial transformation and upgrading. They are local rather than universal, temporary rather than long-term, and surmountable rather than being unsolvable…In difficulties and challenges, one must see prospects, see brightness, and see the future, maintain strategic resolve in development, strengthen confidence in development, and uphold the fighting spirit of striving and winning.
Sharply grasp the time and trend, and deeply understand the dangers and opportunities. In the new era and on the new journey, China’s social productivity will continue to leap forward, people’s living standards will steadily improve, reform and opening up will be further deepened comprehensively, the talent team and labor resources will be huge in number and of high quality, the industrial system and infrastructure system will be well-equipped, new industries, new formats, and new models will continue to emerge, the super-large-scale market with a population of more than 1.4 billion has huge potential, and the socialist system with Chinese characteristics has many significant advantages ... ‘In the new era and new journey, the private economy has broad prospects for development and great potential, and it is time for private enterprises and private entrepreneurs to show their talents’, said General Secretary Xi.
At the symposium, General Secretary Xi Jinping also provided an in-depth analysis of some of the problems that have been identified by the private enterprises, and pointed out the direction for further promoting the healthy and high-quality development of the private economy:
We must resolutely break down various obstacles to the equal use of production factors and fair participation in market competition in accordance with the law, continue to promote the fair opening of competitive infrastructure fields to various business entities, and continue to make great efforts to solve the problems of difficulty in accessing and high cost of financing for private enterprises.
We must focus on solving the problem of arrears of accounts payable to private enterprises.
We must strengthen law enforcement supervision, focus on rectifying arbitrary charges, fines, inspections, and seizures, and effectively protect the legitimate rights and interests of private enterprises and private entrepreneurs in accordance with the law.
We must earnestly implement various relief policies, improve the precision of policies, focus on comprehensive measures, and treat enterprises equally.
We must further build a close and clean relationship between government and business.
此次座谈会上，总书记再次强调：“党和国家对民营经济发展的基本方针政策，已经纳入中国特色社会主义制度体系，将一以贯之坚持和落实，不能变，也不会变。”在经济环境变化的风浪中勇敢搏击，向着高质量发展转型涅槃重生，民营企业的生存与发展，也是一个国家、一个民族在大变局时代攻坚克难、勇毅前行的缩影。当前民营经济发展过程中，面临着一些困难和挑战：有新一轮科技革命和产业变革带来的冲击；有外部环境变化带来的困境；有一些企业存在盲目多元发展、自身经营管理不善等问题；也有相关政策措施落实有待加力的问题……对当前的困难和挑战怎么看？怎么办？习近平总书记指出：“当前民营经济发展面临的一些困难和挑战，总体上是在改革发展、产业转型升级过程中出现的，是局部的而不是整体的，是暂时的而不是长期的，是能够克服的而不是无解的”“在困难和挑战中看到前途、看到光明、看到未来，保持发展定力、增强发展信心，保持爱拼会赢的精气神”。敏锐把握时与势，深刻洞察危与机。新时代新征程，我国社会生产力将不断跃升，人民生活水平将稳步提高，改革开放将进一步全面深化，人才队伍和劳动力资源数量庞大、素质优良，产业体系和基础设施体系配套完善，新产业、新业态、新模式不断涌现，14亿多人口的超大规模市场潜力巨大，中国特色社会主义制度具有多方面显著优势……“新时代新征程民营经济发展前景广阔、大有可为，广大民营企业和民营企业家大显身手正当其时。”总书记说。座谈会上，针对当前民营企业反映比较集中的一些问题，习近平总书记做了深入剖析，为进一步促进民营经济健康发展、高质量发展指明方向——要坚决破除依法平等使用生产要素、公平参与市场竞争的各种障碍，持续推进基础设施竞争性领域向各类经营主体公平开放，继续下大气力解决民营企业融资难融资贵问题。要着力解决拖欠民营企业账款问题。要强化执法监督，集中整治乱收费、乱罚款、乱检查、乱查封，切实依法保护民营企业和民营企业家合法权益。要认真落实各项纾困政策，提高政策精准度，注重综合施策，对企业一视同仁。要进一步构建亲清政商关系.
The final bit of this article reiterates Xi’s comments about the need for enterprises to “follow the path of high-quality development, adhere to the main business, strengthen the real economy, enhance independent innovation, transform the development mode, continuously improve enterprise quality, efficiency and core competitiveness…” It also mentions his remarks about the need for enterprises to serve the country.
Moving on, there’s another article today framed as a response to a netizen’s question. It talks about how China’s development model is becoming an international public good or attractive to foreign governments.
The article begins by telling us that several foreign leaders have visited China recently and China has also conducted training courses for foreign officials. What’s behind this enthusiasm from foreigners?
“Because China has adopted a modernisation path completely different from the West, demonstrating a brand new ‘gameplay’ of ‘levelling up and defeating monsters’ on the development path, allowing various countries to envision a different future. The complete elimination of poverty for 800 million impoverished people is not just a shocking statistic, but also allows more countries to see the possibility of a ‘turnaround success’; the construction of the Guangxi Pinglu Canal is in full swing, aerial photographs of the engineering construction uploaded online have amazed foreign netizens who exclaim it is a ‘science fiction level project’, hoping their own countries would have such building capabilities; electric vehicles are winning ‘fans’ worldwide, electronic payments spreading worldwide, the artificial intelligence model DeepSeek has staged an ‘Eastern miracle’, many countries are marvelling that ‘the future has arrived’...” 因为中国走出了一条完全不同于西方的现代化道路，展示了发展路上“升级打怪”的全新“玩法”，让各国看到了不一样的未来图景。8亿贫困人口全部脱贫，不只是数字的震撼，也让更多国家看到了“逆袭”的可能；广西平陆运河建设正酣，工程建设航拍传到网上，外国网友惊叹这是“科幻级工程”，希望自己国家也有这样的建造能力；电动汽车全球“圈粉”，电子支付走向世界，人工智能模型DeepSeek上演“东方奇迹”，许多国家感叹“未来已来”…
The next question is whether China’s new development concept is effective for other countries? In response, the article says that:
“Come to think of it, there are quite a few successful practices. In Laos, Thinhong Village (听松村) has modelled itself after Shibadong Village in Hunan, creating a prototype for sustainable rural development; Uzbekistan is piloting and promoting Chinese poverty reduction experiences across its states and cities, with domestic poverty gradually decreasing year by year; Rwanda is drawing from China’s e-commerce experience to help its own economic development... Chinese experiences based on its own national conditions are resonating emotionally with developing countries while also being practically feasible.” 还别说，成功实践真不少。老挝听松村对标湖南十八洞村，打造老挝农村可持续发展的样本；乌兹别克斯坦在全国各州、市试点推广中国减贫经验，国内贫困人口逐年减少；卢旺达吸取中国电商经验，助力本国经济发展……立足于自身国情的中国经验，对于广大发展中国家，既有情感的共鸣，又有实操的可行.
The article then talks about China’s infrastructure investments around the world. It says that: “These projects are not just steel and cement and cutting-edge technology but also China’s deep participation in global development and the global expression of China’s new development concept.” 这些项目本身不仅仅是钢筋水泥、硬核科技，更是中国对全球发展的深度参与，也是中国新发展理念的全球化表达.
“To become prosperous, first build roads - this ‘homegrown’ Chinese development experience has emerged from the wave of reform and opening up, has been tested through the battle against poverty, and now walks toward the world with high-quality joint construction of BRI, becoming a ‘super strategy’ for developing countries to eliminate poverty and improve people’s livelihoods. When visiting China, many political leaders from various countries took time out of their tight schedules to ‘go to the countryside’ and ‘enter villages’, hoping to hear more Chinese development stories and understand more deeply China’s path, governance, and philosophy. Back in their own countries, they treat works such as ‘Xi Jinping: The Governance of China,’ ‘Excerpts from Xi Jinping’s Quotes on Poverty Alleviation’, and ‘Out of Poverty’ as desk references, studying and reflecting in combination with their own national conditions.” 要致富，先修路，这条“土生土长”的中国发展经验，从改革开放浪潮中走来，经过脱贫攻坚战的实践检验，如今又随着高质量共建“一带一路”的脚步走向世界，成为发展中国家消除贫困、改善民生的“超强攻略”。访问中国时，不少国家政党政要从紧张行程中挤出时间“下乡”“进村”，希望听到更多中国发展故事，更深入地了解中国之路、中国之治、中国之理。回到自己的国家，他们将《习近平谈治国理政》《习近平扶贫论述摘编》《摆脱贫困》等著作当作案头书，结合本国实际学习思考.
The final question is this:
“Can a country’s development philosophy also become an international public good?
Traditionally, when people talk about international public goods, they mainly refer to mechanisms and actions involving global security, economic stability, environmental protection, etc., that require international coordination and cooperation, aiming to benefit multiple countries or even the globe, such as the well-known UN peacekeeping operations, the Paris Agreement on climate change, etc. Major powers play an important role in providing international public goods. But in fact, this is a narrow understanding of international public goods. Concepts/Ideas imbued with universal values can equally promote consensus in the international community on issues of common concern and advance global cooperation and development.
In recent years, whether it is the concept of building a community with a shared future for mankind, the Belt and Road Initiative, the three global initiatives, or people-centered development thinking, sustainable development concepts, and win-win cooperation concepts, these Chinese ideas and initiatives have been widely disseminated and shared, not only guiding China’s own development but also providing experience and wisdom for the international community. Whether from the ideological level or practical level, these concepts and initiatives possess the attributes of international public goods. China is willing to share good development experiences with all countries to achieve common development. Currently, only about 1 billion people worldwide have entered modernisation, while more than 700 million face hunger. China has always believed that good development means everyone developing together, countries walking ahead should lend a hand to those temporarily behind, and only by jointly making the development cake bigger can I be good, you be good, and everyone be good.
In this sense, it is natural that since the new era, more Chinese new development concepts that ‘carry traffic on their own’ 自带流量 (has its own built-in audience/attraction/doesn’t need major marketing) have gone global, gaining attention and being put into practice around the world, especially in developing countries, becoming widely welcomed international public goods.” 那么，一国的发展理念也可以成为国际公共产品吗？传统上，人们谈到国际公共产品，主要指的是涉及全球安全、经济稳定、环境保护等需要国际社会协调与合作的机制和行动，旨在惠及多个国家甚至全球，如我们熟知的联合国维和行动、气候变化《巴黎协定》等。大国在国际公共产品的提供中扮演着重要角色。但其实，这是对国际公共产品的狭义理解。具有普遍价值的理念同样能够促进国际社会在共同关心的问题上达成共识，推动全球合作和发展。近年来，无论是构建人类命运共同体理念、共建“一带一路”倡议、三大全球倡议，还是以人民为中心的发展思想、可持续发展理念、合作共赢理念，这些中国理念和倡议被广泛传播和共享，不仅指导了中国自身的发展，也为国际社会提供了经验和智慧。无论是从思想层面还是实践层面，这些理念和倡议都具备了国际公共产品的属性。中国愿意把好的发展经验同各国共享，实现共同发展。目前，全球只有约10亿人口步入了现代化，还有7亿多人面临饥饿。中国始终认为，只有大家一起发展才是好发展，走在前面的国家要拉一把暂时走在后面的国家，只有共同做大发展的蛋糕，才能我好、你好、大家都好。从这个意义上说，新时代以来更多“自带流量”的中国新发展理念走向世界，在全球各地尤其是发展中国家收获关注、投入实践，成为深受欢迎的国际公共产品，就很自然了.
Page 2: There’s a report on remarks by Shi Taifeng during a meeting on learning and implementing the spirit of the Third Plenum and the CEWC in the context of engaging with people from the new social strata.
The report says:
“Shi Taifeng said that the Party Central Committee with Comrade Xi Jinping as the core attaches great importance to United Front work related to the people from new social strata, emphasising that people from new social strata are builders of the cause of socialism with Chinese characteristics, and they should be organised, strengthened and guided to play a role. Under the strong leadership of the Party Central Committee, United Front work of people from new social strata has made remarkable progress. In the new era and on the new journey, further comprehensively deepening reform and comprehensively promoting the great cause of building a strong country and national rejuvenation with Chinese-style modernisation require the joint efforts of people of all ethnic groups across the country, including those from new social strata, to work together and form a powerful synergy to achieve the Chinese Dream. Shi Taifeng stated that people from new social strata should maintain a broad, long-term perspective to understand the situation and become even more firm in their confidence and determination to strive together under the leadership of the Party. They should actively play their roles around the central tasks and more proactively demonstrate their responsibility as ‘builders’ in promoting Chinese-style modernization. Representatives of new social strata should earnestly strengthen their self-development and lead more individuals from new social strata to unite closely around the Party. 石泰峰表示，以习近平同志为核心的党中央高度重视新的社会阶层人士统战工作，强调新的社会阶层人士是中国特色社会主义事业的建设者，要把他们组织起来，加强引导、发挥作用。在党中央坚强领导下，新的社会阶层人士统战工作取得了显著进展。新时代新征程，进一步全面深化改革，以中国式现代化全面推进强国建设、民族复兴伟业，需要包括新的社会阶层人士在内的全国各族人民共同奋斗，形成同心共圆中国梦的强大合力。石泰峰表示，新的社会阶层人士要站位全局把握形势，更加坚定在党的领导下共同奋斗的信心决心；要围绕中心发挥作用，更加积极在推进中国式现代化中展现“建设者”的担当。新的社会阶层代表人士要切实加强自身建设，带动更多新的社会阶层人士团结凝聚在党的周围.
Next, there’s a report on comments by Zheng Bei, NDRC Deputy Director, saying that the commission will work with relevant departments and local governments to implement the various directives from the private enterprise symposium in five key areas.
Breaking down barriers to market access and resource acquisition. The revised version of the market access negative list will be issued as soon as possible to fully implement the principle of ‘non-prohibition equals to entry.’ Detailed measures will be introduced to ensure the continued fair opening of competitive infrastructure sectors, major national scientific research facilities, and other areas to private enterprises. Private enterprises will be supported in actively participating in ‘two heavy’ construction projects and ‘two new’ initiatives. Additionally, efforts will continue to address the difficulties of private enterprises in securing affordable financing.
Promoting the resolution of overdue payments to private enterprises. Local governments and SoEs will be urged to fulfil their responsibilities, make full use of newly-issued local government special bonds, and accelerate the repayment process. Further improve laws and regulations, strengthen punishment for dishonesty, prevent ‘clearing debts while accumulating new ones’.
Legally protecting the legitimate rights and interests of private enterprises and entrepreneurs. The Private Economy Promotion Law has been submitted for review by the NPC, and preparations will be expedited for its enactment and implementation. The benchmarks for administrative discretion will be refined, and participation in special law enforcement actions related to enterprises will be strengthened to prevent illegal cross-regional enforcement and profit-seeking law enforcement.
Implementing various business support and relief policies. Give full play to the role of the inter-ministerial joint meeting system, make good use of the regular communication mechanism and the comprehensive service platform for the development of the private economy, accurately implement policies and measures to address the difficulties and problems reflected by private enterprises, and provide real assistance to implement various policies and measures.
Actively fostering a supportive environment for private economic development. Innovate and develop the ‘Jinjiang Experience’, promote the entrepreneurial spirit, summarise and promote good experiences and practices in the development of the private economy, and tell good stories about private enterprises and entrepreneurs.
破除市场准入、要素获取的障碍。尽快修订出台新版市场准入负面清单，落实好“非禁即入”要求。细化举措，持续推进基础设施竞争性领域、国家重大科研基础设施等向民营企业公平开放，支持民营企业积极参与“两重”建设和“两新”工作。会同相关方面，继续解决民营企业融资难融资贵问题。推动解决拖欠民营企业账款问题。推动地方政府、国有企业落实责任，用好新增地方政府专项债等政策，加快清欠进度。进一步健全法律法规，强化失信惩戒，防止边清边欠。依法保护民营企业和民营企业家合法权益。民营经济促进法已提请全国人大审议，将抓紧做好出台实施的相关准备。加快完善行政裁量权基准，参与涉企执法专项行动，防止违规异地执法和趋利性执法。落实各项助企纾困政策。充分发挥部际联席会议制度作用，用好常态化沟通交流机制和民营经济发展综合服务平台，对民营企业反映的困难问题，精准施策、真帮实帮，把各项政策举措落到实处。积极营造关心支持民营经济发展的良好氛围。创新发展“晋江经验”，弘扬企业家精神，总结推广民营经济发展的好经验好做法，讲好民营企业和企业家故事。
A related Global Times story informs that the Ministry of Industry and Information Technology has also noted that it will “guide small and medium-sized enterprises (SMEs) to strengthen their confidence, focus on their core business, and uphold integrity in their business operations. And, this will be achieved through five key areas, including ecosystem support, innovation, digital transformation, talent training and development, and service enhancement, to pave the way for high-quality economic development.”
Page 3: There are two reports on Wang Yi’s engagement at the UN. He spoke after chairing the UNSC’s high-level meeting on ‘Practicing Multilateralism, Reforming and Improving Global Governance’. Xinhua reports:
Wang Yi said that China’s proposal (for this meeting) has received positive responses from all parties, and more than 100 countries registered for the meeting. At the meeting, China put forward four proposals for revitalizing multilateralism and building a fair and equitable global governance system.
Wang summarised the consensus reached at the meeting as follows:
First, the role of the United Nations is indispensable. After 80 years of trials and challenges, the United Nations remains the most representative and authoritative intergovernmental international organization, serving as the core mechanism for achieving global peace and development. Under the current situation, the U.N.'s role must not be weakened but strengthened, and its status must be upheld, not replaced.
Second, the trend of multilateralism is irreversible. Unilateralism and protectionism are unpopular. All countries should support a multilateral system with the United Nations at its core, adhere to the basic norms of international relations based on the purposes of the U.N. Charter, promote the concept of multilateralism, and revive the spirit of multilateralism.
Third, the trend of unity and progress is unstoppable. Countries are interdependent and share a common future; no country can prosper alone, nor should the strong bully the weak, let alone a return to the ‘law of the jungle’. Unity and cooperation beat division and confrontation. Only in this way can all countries achieve win-win results, and the world realize peace and development.
Fourth, reforming and improving global governance cannot be delayed. Building a fair and equitable global governance system is a universal expectation of the international community and an effective way to address global challenges. It is necessary to adapt to the new changes in the international political and economic landscape, enhance the representation of the Global South, and strike a balance in the reforms that reflect the wishes and interests of the majority of countries.
He then pitched GCI, GDI, and GSI, adding that “China will continue to uphold practicing multilateralism, defend the vision of the United Nations, and firmly safeguard the authority of the United Nations. China is ready to work with all countries for a better future.”
At the meeting, Wang outlined the following four proposals with regard to global governance. These are important:
First, upholding sovereign equality. In advancing global governance, all countries participate as equals, make decisions as equals, and benefit as equals. Members must respect the development paths chosen independently by people of all countries, uphold the principle of non-interference in internal affairs, and not impose one’s will upon others. Members must practice international rule of law, ensure the effective implementation of international law, and reject double standards and selective application. Resolutions of the Security Council are binding, and should be observed by all countries. The Security Council is entrusted with authority, and such authority should be upheld by all countries. Any act of bullying, trickery or extortion is a flagrant violation of the basic norms of international relations. Any unilateral sanction that circumvents Security Council authorization lacks legal basis, defies justification and contradicts common sense.
Second, upholding fairness and justice. International affairs should no longer be monopolized by a small number of countries. Countries in the Global South have the right to speak up for and defend their legitimate rights and interests. The fruits of development should no longer be taken by just a few countries. People of all countries have the right to a happy life. The reform of the U.N. Security Council should continue to emphasize democratic consultation, increase the representation and say of developing countries, especially African countries, and effectively redress historical injustice.
Third, upholding solidarity and coordination. Countries should commit to the principle of extensive consultation and joint contribution for shared benefit, replace confrontation with coordination, prevent lose-lose through win-win cooperation, and break down small circles with greater solidarity. Members cannot just sit by and watch multilateral institutions become dysfunctional and ineffective due to their own failure to cooperate. The U.N. Security Council must rise above narrow-minded geopolitical considerations, champion the spirit of solidarity and cooperation, fulfill its duties conferred by the U.N. Charter, and effectually play its role for the maintenance of international peace and security.
Fourth, upholding an action-oriented approach. In the face of protracted wars, loss of innocent lives, and challenges brought by new technologies, U.N. agencies should seek solutions rather than chant slogans. It is important to implement the U.N.’s Pact for the Future with coordinated efforts, i.e. to turn the road map into a construction plan and a wonderful vision into substantive actions. It is vital to uphold the two-State solution, press for a comprehensive, just and lasting settlement of the Palestinian question, and bring lasting peace and security to the Middle East.
In terms of his bilateral meetings, Wang met with UN Secretary-General Antonio Guterres, reiterating China’s support for the UN.
The readout from Wang’s meeting with Pakistani FM Mohammad Ishaq Dar says:
“Wang Yi stated that China and Pakistan are all-weather strategic cooperative partners, and the two sides have always trusted and supported each other. Not long ago, President Xi Jinping and President Asif Ali Zardari held a successful meeting, injecting fresh impetus into the ironclad friendship between China and Pakistan. China prioritizes relations with Pakistan in its neighborhood diplomacy and will continue to uphold justice and speak up for Pakistan on international occasions. China will seek greater synergy of development strategies with Pakistan, in particular, deepen cooperation on agricultural modernization and industrialization, and help Pakistan enhance its capacity for independent development. China hopes that the Pakistani side will take effective measures to ensure the safety of Chinese personnel, projects and institutions in Pakistan.
The readout from Wang’s meeting with Hungarian Foreign Minister Péter Szijjártó says:
Wang said that “China appreciates Hungary’s rational and objective stance on hotspot conflict issues and believes that Hungary will continue to contribute to peace and stability in Europe, and play an important and unique role in this regard…Both sides highly praised bilateral relations between China and Hungary. Wang Yi commended Hungary for consistently regarding China as an opportunity for development, emphasizing that regardless of changes in the international landscape, China will always be a trustworthy partner for Hungary. Noting that this year marks the 50th anniversary of the establishment of diplomatic relations between China and the European Union (EU), Wang Yi expressed the belief that Hungary will continue to play a constructive role in the sound and stable development of China-EU relations. Péter Szijjártó noted that Hungary values its friendship with China and is pleased with the close high-level exchanges and good communication between the two countries as well as the significant achievements in practical cooperation across various fields. He expressed the willingness to work with the Chinese side to continuously elevate bilateral relations to new heights. Effective cooperation between the EU and China serves the common interests of all parties, and Hungary will continue to be committed to promoting the development of EU-China relations.” — Note: Hungary, I guess, finds itself in a truly remarkable position. It has good ties with China. Viktor Orban has a good relationship with Vladimir Putin; and of course, Trump seems to also have a fondness for him. What a fascinating turn of events that can place Hungary in a potentially pivotal position in the world today.
The readout of Wang’s meeting with Ugandan Foreign Minister Jeje Odongo says:
“Noting that the international community cannot promote multilateralism without African voices, or improve global governance without African participation, Wang said China is willing to work with African partners to build a just and equitable global governance system and make joint efforts for world peace, stability, development and prosperity. China and Uganda have always respected, trusted and supported each other, he said. Wang expressed China’s willingness to work with the Ugandan side to implement the important consensus reached by the two heads of state and the outcome of the Beijing Summit of the Forum on China-Africa Cooperation, continuously enrich the connotation of the China-Uganda comprehensive strategic cooperative partnership, and build an all-weather China-Africa community with a shared future in the new era.”
Finally, Wang also met with Somali Foreign Minister Ahmed Moallim Fiqi and Bolivian Foreign Minister Celinda Sosa Lunda. The readout of the latter meeting says:
Wang said that “this year marks the 40th anniversary of the establishment of diplomatic relations between China and Bolivia and the 200th anniversary of Bolivia's independence. Standing at a new historical starting point, China is ready to make joint efforts with Bolivia to deepen mutually beneficial cooperation and take China-Bolivia strategic partnership to new heights. China supports Chinese enterprises to invest and do business in Bolivia to help the country accelerate development and improve people’s livelihood. Wang Yi congratulated Bolivia on becoming a BRICS partner country, and said that China supports Bolivia in playing a greater role in international and regional affairs. Latin America is the homeland of the Latin American people, not the backyard of any country. China supports Latin American countries in safeguarding sovereignty, independence and national dignity, and supports Bolivia in safeguarding its legitimate rights and interests. China will always be a reliable friend and partner of Latin America. This year marks the 10th anniversary of the China-CELAC Forum. China is ready to work with Bolivia and other Latin American and Caribbean countries to prepare for this year’s meeting and discuss plans for the development of China-CELAC cooperation in the next decade.”
Other Reports:
Although it is not covered in the newspaper today, the Ministry of Commerce and NDRC have issued a 20-point plan to “increase efforts to attract and stabilize investment” in 2025. The first five points are about actions to be taken for opening up:
Expand pilot openings in telecommunications, healthcare, and education sectors. Support pilot regions in effectively implementing pilot policies for opening value-added telecommunications, biotechnology, and wholly foreign-owned hospitals, providing ‘specialised team’ tracking services for foreign-invested projects in relevant fields, coordinating problem-solving in a timely manner, and promoting early project implementation. Expand pilot openings in telecommunications and healthcare at an appropriate time. Formulate and gradually implement an implementation plan for the orderly expansion of independent opening in the fields of education and culture, and announce it when appropriate. 扩大电信、医疗、教育等领域开放试点。支持试点地区抓好增值电信、生物技术、外商独资医院领域开放试点政策宣贯落实，对相关领域外商洽谈项目开展“专班式”跟踪服务，及时协调解决问题，推动项目尽早落地。适时进一步扩大电信、医疗领域开放试点。研究制定有序扩大教育、文化领域自主开放实施方案，适时对外公布并稳步实施.
Implement the requirements for the complete abolition of restrictions on foreign investment access in the manufacturing sector. For areas outside the negative list of foreign investment access, strictly implement management of foreign investment access in accordance with the principle of consistency between domestic and foreign investment. Revise the negative list of market access, further reduce the items on the list, and expand opening up to various types of business entities. 落实全面取消制造业领域外资准入限制要求。对于外资准入负面清单之外的领域，严格按照内外资一致的原则对外资准入实施管理。修订市场准入负面清单，进一步压减清单事项，面向各类经营主体扩大开放. (Note: Hasn’t this been talked about for a long, long time?)
Expand service industry opening. Support the Beijing Demonstration Zone to play a leading role in expanding the opening up of the service industry. 支持北京示范区发挥服务业扩大开放引领作用，推动试点工作提速加力。
Promote orderly opening up in the bio-pharmaceutical field. Support qualified foreign enterprises in participating in pilot segmented production of biological products, accelerate the review of provincial pilot programs and quality supervision plans, and optimise resource allocation in the bio-pharmaceutical industry, and promptly coordinate and solve the difficulties encountered by enterprises during the pilot process. Study and improve the opening-up policy in the pharmaceutical field, facilitate the accelerated listing of innovative drugs, optimize the volume-based procurement of drugs, and further improve the predictability of medical device product procurement. 推动生物医药领域有序开放。支持符合条件的外资企业参与生物制品分段生产试点，加快省级试点方案、质量监管方案审核，推动生物医药产业优化资源配置，及时协调解决试点过程中企业遇到的困难问题。研究完善医药领域开放政策，便利创新药加快上市，优化药品带量采购，进一步提高医疗器械产品采购可预期性.
Encourage foreign investment in equity investment in China. In particular, the document calls to “formulate and issue operational guidelines for the implementation of strategic investment”. 鼓励外资在华开展股权投资。抓好《外国投资者对上市公司战略投资管理办法》落实，制定发布实施战略投资的操作指引，加大对上市公司、境外基金和投资机构等的宣介力度，引导更多优质外资长期投资我国上市公司.
The next 8 points are around investment promotion. Under this, the call is to:
Build the ‘Invest in China’ brand
Continue to optimise the business environment and effectively implement the national treatment of foreign-invested enterprises. Study and formulate policies and measures to encourage foreign-invested enterprises to reinvest in China, and promote foreign-invested enterprises to use more profits in China for reinvestment. Carry out a pilot program for foreign-invested enterprises’ domestic investment information reporting. 持续优化营商环境，切实把外资企业的国民待遇落实到位。研究制定鼓励外资企业境内再投资政策措施，促进外资企业在华所获利润更多用于再投资。开展外资企业境内投资信息报告试点. (Note: This doesn’t sound like a great thing for foreign-invested enterprises.)
Revise and expand the catalogue of industries encouraged for foreign investment, optimise the structure of foreign investment, promote foreign investment to serve the high-quality development of China’s manufacturing industry, guide foreign investment to modern service industries, and support foreign investment to more central, western and northeastern regions. 修订扩大鼓励外商投资产业目录，优化外商投资结构，促进外资服务我国制造业高质量发展，引导外资投向现代服务业，支持外资更多投向中西部和东北地区.
Remove restrictions on foreign-invested companies using domestic loans. Allow foreign-invested companies to use domestic loans for equity investment, enhance policy interpretation and promotion, and facilitate multinational corporations in establishing headquarters-type institutions in China. 取消外商投资性公司使用境内贷款限制。允许外商投资性公司使用境内贷款开展股权投资，加大政策宣传解读力度，为跨国公司在华投资设立总部型机构提供便利.
Optimise regulations on foreign-invested investment companies, and facilitate multinational corporations in setting up investment companies in terms of foreign exchange management, personnel entry and exit, and cross-border data flow. Ensure that enterprises established by relevant foreign-invested investment companies in China enjoy foreign enterprise treatment in accordance with laws and regulations. 鼓励跨国公司投资设立投资性公司。优化外商投资举办投资性公司相关规定，在外汇管理、人员出入境、数据跨境流动等方面，为跨国公司投资设立投资性公司提供便利。保障相关外商投资性公司在华投资设立的企业依法依规享受外资企业待遇.
Under the framework of the Foreign Investment Law, revise the ‘Regulations on Foreign Investors’ Conducting Mergers and Acquisitions of Domestic Enterprises’, optimise foreign investment mergers and acquisitions rules and merger and acquisition transaction procedures, improve the scope of merger and acquisition management, and lower the threshold for cross-border stock swaps. 在外商投资法框架下，修订《关于外国投资者并购境内企业的规定》，优化外资并购规则和并购交易程序，完善并购管理范围，降低跨境换股门槛等.
Encourage foreign investment in livestock breeding, breeding equipment production, and feed and veterinary drug production, granting national treatment. Support foreign enterprises’ participation in China’s new industrialisation process, focus on attracting foreign investment in high-tech fields, and provide foreign enterprises with more market opportunities and cooperation space. Encourage foreign investment in service sectors such as elderly care, culture and tourism, sports, healthcare, vocational education, and finance to meet diverse consumer service needs. 加大重点领域引资力度。鼓励外商投资养殖、饲养设备生产、饲料兽药生产等畜牧业相关领域并享受国民待遇。支持外资企业参与我国新型工业化进程，重点引进高技术领域外商投资，为外资企业提供更多市场机会和合作空间。鼓励养老服务、文化和旅游、体育、医疗、职业教育、金融等服务业领域吸引利用外资，满足多层次服务消费需求.
Strengthen external promotion of economic policies and business environment. 加强经济政策和营商环境对外宣介.
The next two points relate to reform measures concerning the national economic and technological development zones and free trade zones.
The final five points state:
Promote the implementation of major and key foreign-funded projects. Support the inclusion of more foreign-funded projects in the list of major and key foreign-funded projects, increase policy support and service guarantee efforts, and accelerate the implementation of projects. 推动重大和重点外资项目落地。支持将更多外资项目纳入重大外资项目和重点外资项目清单，加大政策支持和服务保障力度，加快推动项目落地建设.
Formulate and issue relevant documents as soon as possible to clarify the standards for government procurement of domestic products and ensure that products produced by enterprises of different ownership structures in China participate equally in government procurement activities. Strengthen policy publicity in the field of government procurement and do a good job in handling complaints from foreign-invested enterprises. 尽快制定出台相关文件，明确政府采购本国产品标准，确保不同所有制企业在中国境内生产的产品平等参与政府采购活动。加强政府采购领域政策宣传，做好外资企业投诉处理工作.
Encourage financial institutions to provide financing services to foreign-invested enterprises, conduct research on key foreign-invested enterprises’ loan demands and investment operations, and organise targeted bank-enterprise matchmaking events. Guide various funds to engage in equity investment cooperation with foreign-invested enterprises and support their expansion in China. 鼓励金融机构为外资企业提供融资服务，开展重点外资企业贷款需求及投资经营情况调研，有针对性举办银企对接活动。引导各类基金与外资企业开展股权投资合作，支持在华外资企业扩大投资经营规模、深耕中国市场.
Accelerate the negotiation of mutual visa exemption agreements, and continue to steadily expand the scope of unilateral visa exemption countries. Optimise the port visa, transit visa exemption, and regional entry visa exemption policies to promote cross-border personnel flow. Update the ‘Guidelines for Foreign Business People Working and Living in China’. 加快互免签证协定商谈，继续稳妥扩大单方面免签国家范围。优化口岸签证、过境免签、区域性入境免签政策，促进人员跨境流动。更新《外国商务人士在华工作生活指引》.
Improve the level of trade facilitation for foreign-invested enterprises. Under this, the document calls to crack down on IPR infringements and to increase efforts to cultivate Authorised Economic Operator (AEO) certification for foreign-invested enterprises in customs, and further optimise and reduce the random inspection rate for AEOs. 提升外资企业贸易便利化水平。做好优惠贸易协定项下原产地证书签证工作，助力外资企业出口货物享受协定伙伴方关税减让。优化重点外资项目进口成套设备检验监管。加大对外资企业海关“经认证的经营者”（AEO）培育力度，进一步优化降低AEO随机布控查验率。积极稳妥推进进口商品采信，将更多符合资质的中外检验机构纳入采信机构目录。鼓励外资企业开展知识产权备案，坚决打击进出口环节侵犯外资企业知识产权的行为.