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          Decoding
          Adoption of reforms and opening-up
          1978
          1990
          People's basic needs
          are met
          Moderately prosperous society
          2035
          2020
          Modernization 
          basically achieved
          2050
          Great modern
          socialist country
          Goals and achievements
                                    Our Party united the people and
          led them in launching the great new revolution
          of reform and opening up,...in embarking on
          the path of socialism with Chinese characteristics.
                                     We will adopt policies to promote
          high-standard liberalization and facilitation
          of trade and investment.
          Reforms have deepened in the past five years; as a result, the economy has never been more open.
          reform measures
          1,500
          taken since 2012
          600+ 
          administrative approvals canceled or
          delegated to lower-level offices, meeting targets ahead of schedule
          $303 billion
          corporate burden
          slashed (2013-16)
           
          65%
          of restrictive items in foreign investment reduced from 2011
          through cuts in taxes and fees
                                   We will grant more powers to pilot
          free trade zones to conduct reform, and explore the opening of free trade ports
          Free Trade Zones
          Shanghai
          Total: 11
          Guangdong, Tianjin, Fujian
          Liaoning, Zhejiang, Henan,  Hubei,
          Sichuan, Shaanxi, Chongqing
          in inland provinces
          along the coast
          of the country's provincial-level areas have FTZs
          1/3
          5
          6
          10%
          2017
          of the country's total foreign investment
          2015
          2013
                                  We will implement the system of
          pre-establishment national treatment plus a negative list across the board.
          Negative list
          First piloted in the
           Shanghai Free Trade Zone
                                       
          2013
          All 11
          pilot free trade zones have been set up with it
           
          2018
          Nationwide
          application
                                   We will significantly ease market access, further open the service sector, and protect the legitimate rights and interests of foreign investors. All businesses registered in China will be treated equally. 
          Foreign direct investment
          $489.4 billion
          2013-16
          3.1%
          annual rising rate
          Foreign investment law enactment progresses
                                     We should pursue the
          Belt and Road Initiative as a priority...
          Give equal emphasis to
          "bringing in" and "going global"
          Follow the principle of achieving shared growth through discussion and collaboration
          Increase openness and cooperation in building innovation capacity
          With these efforts, we hope to break
          new ground in opening China further through
                                       We will develop new ways of making outbound investments, ... and build up our strengths for international economic cooperation and competition.
          RMB
          internationalization 
          5
          Non-financial outbound direct investment
           
           $491.5 billion
          21.6%
          average rising rate
          2013-16
          On Oct 1, 2016, the RMB joined IMF Special Drawing Right basket.
          Yuan was the fifth most-traded currency through the Society for Worldwide Interbank Financial Telecommunication (SWIFT) in August.
          Openness brings progress, while self-seclusion leaves one behind.
           
          China will not close its door to the world; we will only become more and more open.
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