中华脉搏 | C h i n a B e a t
miracles in a number of aspects, such as China’s attainment of double-digit growths over an extended period. China has also leapt in a short time to become the world’s second largest economy and the nation with the largest trade volume and highest foreign reserve. But in terms of “opening up”, the most important change was its transformation from a capital-deficient economy to one with surplus capital. Hence, China’s capital began to “go abroad”. This “going abroad” of capital represents China’s Open Door 3.0. Comprising state-owned and private ones, the Chinese capital that moved The official affirmation of the concept
out was basically no different from the
of “Socialist Market Economy” during
capitals of other countries, as it tended
the 14th Congress in 1992 injected
to flow to places where there were
vigour into China’s open-door policy. In
profits to be made. What differed was
order to gain admission into the World
that most of the economic spaces had
Trade Organisation, China voluntarily
already been taken up by its Western
implemented measures for the “link up”,
counterpart, leaving it to head for
by amending its own laws and policies to
places where economic conditions were
match international requirements.
not so ideal, including areas rocked by
After joining the WTO in 2001, China saw a massive influx of Western investments and quickly became the world’s manufacturing base, seamlessly
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political instability or frequent wars.
CONTEST FOR HIGH-QUALITY CAPITAL
integrating China’s labour and land
After the 18th Congress, China’s
factor with capital and technology
Open Door 4.0 began to take shape.
from the West. This spawned economic
This version is a systematic and
华商 | C H I N E S E E N T R E P R E N E U R