The International Department of the Central Committee of the Communist Party of China (IDCPC) held a background Briefing for Representatives of Foreign Chambers of Commerce and Multinational Corporations Operating in China on the Fifth Plenary Session of the 19th CPC Central Committee in Beijing on Thursday.

More than 100 Representatives of Multinational Corporations and Organizations from countries across the world, including the United States, Germany, Britain, France, Japan, and other major global economies, attended the meeting.

Hu Zhaoming, spokesperson for the IDCPC, Zhang Yansheng, Chief Researcher at the China Center for International Economic Exchanges, and Liu Quanhong, Deputy Director at the Institute of Market & Price of Academy of Macroeconomic Research, addressed the attendees and fielded questions.

The speakers gave a comprehensive introduction to China’s achievements during the 13th Five-Year Plan period (2016-2020) and highlighted and explained the significance of proposals for formulating the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035.

They stressed that in the future, China will continue to open up to the outside world and strengthen international cooperation, including pursuing the Belt & Road Initiative and sharing development opportunities with the world.

The representatives of foreign chambers of commerce and multinational corporations congratulated China on its remarkable achievements during the 13th Five-Year Plan period.

They also noted that the fifth plenary session drew a blueprint for China’s economic and social development in the future 14th Five-Year Plan (2021-2025) and a longer period, with more emphasis on the quality and efficiency of economic development, which will not only promote China’s prosperity but also contribute to the global economic recovery after the pandemic.

Alan Beebe, president of AmCham China, spoke highly of China’s emphasis on opening up in the future 14th Five-Year Plan period, noting that China is playing leadership roles globally. He is looking forward to seeing China’s reform and opening up being accelerated.

“It’s somewhat not a surprise that China is continuing to play a more prominent role in global economics and trade. China has benefited so much from that. I think our member companies would be a good example of taking the advantages and the benefits that come from having an open economy and a fair and free trade,” said Beebe.

“What impressed me most of the fifth plenary session is that China has a long-term vision towards development,” Matteo Marchisio, the International Fund for Agricultural Development representative in China, told the reporters.

“2020 is a crucial year when China will eradicate absolute poverty. But China is looking beyond and thinking about how to address the emerging challenges that it will have. China is not only looking at the next five years but the next 15 years to 2035.”

Many other representatives also expressed their willingness to strengthen cooperation with China in investment, trade and other fields to promote mutual benefit and common development.