In November 2014, President Xi Jinping and Premier Li Keqiang hosted and/or attended the APEC, East Asia and G20 Summits. It was a clear sign of China's regional diplomacy and attracted attention from around the globe. China is increasingly both active and proactive on the international stage, launching new initiatives and pushing regional cooperation forward. To help decipher these important developments, on December 15 DaoHe Forum invited Mr. Zhang Shaogang, Director General of the Department of International Trade & Economic Affairs of the Ministry of Commerce, to give a speech about the major achievements of these three Summits, trends within China's economic reform and opening-up policies, and its implications for MNCs in China.
Mr. Zhang explained that 2014 was a remarkable year in China's diplomatic history. The three Summits reflect the international trend of "mainstream cooperation and development," in which China is playing a proactive and leading role. China will increasingly be more active in regional economic cooperation, place a high priority on the systematic development of free trade zones, leverage interconnectivity as a key platform for further opening-up of China's economy, and increase its investment in international economic and technical cooperation. MNCs should closely monitor China's new policy direction, fine-tune their strategies accordingly, and adapt to China's "new normal."
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