China is dedicated to opening its economy wider under the new dual-circulation development paradigm, with a key focus on building an open market and expanding institutional opening-up, while boosting innovation-driven development, experts said on Wednesday.
"China is set to become the world's largest and most promising market in the near future," said Zeng Peiyan, former vice-premier of China. "During the 14th Five-Year Plan period (2021-25), China will enter a new stage of pursing high-quality development driven by innovation and reforms."
Zeng told the Boao Forum for Asia Annual Conference 2021 that the new development pattern will fully unleash the potential of the domestic market. This will offer huge growth opportunities for all global stakeholders and create a vast market space to promote the global economic recovery.