3. Upholding and advancing economic globalization
China is an active participant in and a firm supporter of economic globalization. We are ready to join the international community in taking proactive measures and strengthening guidance to make the process of economic globalization more dynamic, more inclusive and more sustainable. China will follow a more proactive opening-up strategy, work to create a more comprehensive, diverse and deeper opening-up structure, achieve mutually beneficial progress in a broader way, and uphold and promote economic globalization through concrete actions.
Opposing unilateralism and protectionism. China is fully committed to a multilateral trading system with the WTO at its core. It is keen to extend cooperation with other countries on the basis of equality and mutual respect, and to jointly maintain the stability and development of the global economy and trade. China advocates compliance with the WTO rules to address issues in international trade through dialogue and consultation based on mutual respect, equality, mutual benefit, cooperation and good faith. Threats of a trade war and continuous tariff hikes will never help to resolve economic and trade issues. China is a mature economy with a complete industrial system and industrial chain, vast markets, and vibrant momentum for development. We can never be defeated or weakened by a trade war. China is confident of meeting challenges head on, turning risks into opportunities, and opening new chapters.
Opening wider to the outside world. Opening up has been key to China's economic growth over the past years. In the same vein, further growth in the future can only be achieved with greater openness. We have launched and will continue to implement a host of major opening-up measures, giving equal emphasis to "bringing in" and "going global", and making new ground in opening China further through links running eastward and westward, across land and over sea. With lower overall tariffs, a shorter negative list, easier market access, more transparent market rules, and a more attractive business environment, China will build an open economy of higher quality, bringing more opportunities for growth, transformation and innovation to the world. We welcome more foreign friends to study, work and travel in China. China will devote more energy to "going global", encourage more Chinese enterprises and institutions to invest and develop outside China, strengthen economic and cultural exchanges and cooperation, and build new platforms for mutually beneficial cooperation. China will continue to ensure the success of the Belt and Road Forum for International Cooperation, and make every effort to develop a world-class China International Import Expo, fostering new demand and drivers for its opening up and global economic growth.
Moving faster to promote regional economic integration. China will speed up the implementation of its free trade zone strategy, and build a high-standard network of free trade zones that focuses on neighboring countries and regions, radiates out through the Belt and Road, and opens to the world. We will continue to help secure agreement on the Regional Comprehensive Economic Partnership, and speed up negotiations on the China-Japan-ROK Free Trade Agreement and the China-EU investment treaty. China will work on the Free Trade Area of the Asia-Pacific and an East Asia economic community, support the development of the African Continental Free Trade Area, advance regional economic integration, and promote liberalization and facilitation of trade and investment, reinforcing the momentum for economic globalization.
Continuing internationalization of the Renminbi. The internationalization of the Renminbi has broadened monetary settlement options for global trade and promoted diversity in the international monetary system. It aims to supplement and improve rather than change the current system. It is a market-driven process based on the principle of respecting market demand and serving the real economy. While advancing the market-based reform of the Renminbi exchange rate and the opening of domestic capital and financial accounts in a prudent and orderly way, China will continue the internationalization of the Renminbi, raise financial standards, and further internationalize its financial sector, thus enhancing converging interests with other countries and contributing to international financial stability.
4. Developing global partnerships
China gives priority to expanding partnerships. Those who cherish the same ideals and follow the same path can be partners, and so can those who seek common ground while reserving differences. China will carry forward this spirit, remain committed to a new approach to state-to-state relations, one that features dialogue rather than confrontation, and seeks partnerships rather than alliances. We will work to build a framework for major-country relations featuring overall stability and balanced development, establish deeper relations with our neighbors, and strengthen solidarity and cooperation with other developing countries. Guided by the principle of upholding the greater good and pursuing shared interests, China will expand the convergence of interests with other countries, add more value to partnerships, and enlarge its circle of friends worldwide.
The China-US relationship is one of the most important bilateral relationships in the world. China is the world's largest developing country and the United States is the largest developed country. Cooperation is the only correct choice for the two countries, and a mutually beneficial relationship is the only path to a better future. The US should treat our bilateral relations from a broad and rational perspective. China has no intention of challenging the United States, nor of replacing the US; the US is unable to force China's hand, and even less likely to halt China's development. The US cannot maintain its strength by attempting to contain and suppress other countries, or by transferring its own domestic stresses outward. The US should abandon the Cold War mentality, and develop a proper understanding of itself, China, and the world. It should adapt to the development and prosperity of other countries, and live in harmony with the rest of the world, which is the principle major countries should always follow. The Thucydides trap is not an unbreakable law. However, any serious strategic miscalculation between major countries risks turning conflict and confrontation into a self-fulfilling prophecy. For the wellbeing of the two nations and the rest of the world, China is ready to work with the US to shoulder their shared responsibilities as major countries, expand cooperation on the basis of mutual benefit, manage differences based on mutual respect, and jointly advance China-US relations focusing on coordination, cooperation and stability.
China and Russia have walked hand in hand through the past seven decades, each as the other's largest neighbor. They have withstood the test of changes in the world and set a good example in fostering a new model of international relations. Our comprehensive strategic partnership of coordination is mature, stable and solid, enjoying the highest level of mutual trust and coordination and the highest strategic value. The upgrade of the China-Russia relationship to a comprehensive strategic partnership of coordination for a new era marks a brighter future for our bilateral relations. China has always prioritized its relations with Russia in its diplomatic agenda. China will work with Russia to build a deeper friendship between our two countries, support each other on issues concerning our core interests, closely coordinate with each other on major issues of mutual concern, enhance the connectivity of our development strategies, and push our bilateral relations to greater heights, wider fields and deeper levels. Our relationship will serve as both a ballast and a propeller in a complex and volatile international situation. A close partnership between China and Russia contributes to world peace, security and stability.
Europe is an important pillar in the world today, and also a comprehensive strategic partner to China. We endeavor to promote a partnership for peace, growth, reform and civilization, connecting our strengths, markets and civilizations, and increasing the global influence of the China-EU comprehensive strategic partnership. China will continue to support European integration, and a more important role in international affairs for a more united and stronger EU. The two sides will extend cooperation, make joint efforts to uphold multilateralism, and promote stability throughout the world.
China sees its neighboring countries as the foundation of its development and prosperity. It gives top priority to neighborhood diplomacy in foreign relations, and takes promoting regional peace, stability and development as its bounden duty. In accordance with the policy of forging friendships and partnerships with our neighbors based on the principles of amity, sincerity, mutual benefit and inclusiveness, we will continue to increase mutual trust and assistance, promote connectivity, further mutually beneficial cooperation, and ensure peace and tranquility, so that our development will bring even greater gains to our neighbors and gather strength for turning China and its neighbors into a community of shared future. China will continue to lead regional cooperation and safeguard regional peace and development.
China and other developing countries share the same aspiration for peace and development. Guided by the principle of upholding the greater good and pursuing shared interests, China strengthens solidarity and cooperation with other developing countries in a spirit of sincerity, affinity, and good faith. We will contribute to a closer community of shared future between China and Africa, further a comprehensive cooperative partnership between China and Latin American countries characterized by equality, mutual benefit and common development, reinforce a future-oriented strategic partnership of comprehensive cooperation and common development between China and the Arab states, and foster new drivers for South-South cooperation, helping the peoples of all developing countries achieve a better life.