A Lecture was held by the International Liaison Department of the Central Committee of the Chinese Communist Party (CPC) in Beijing on Thursday to promote the spirits of the 5th Plenary Session of the 19th CPC Central Committee to over 100 delegates of the commercial sector from world major economies like the United States, Germany and Britain as well as Fortune Global 500 Companies.

The Lecture showed China’s development achievements made after implementation of the 13th Five-Year Plan, especially the main content and profound influence of the 14th Five Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035.

It stressed that China will continue to expand openness, strengthen cooperation under the Belt & Road Initiative and share development opportunities with the world.

The delegates said they are confident of Chinese prospects for development, hoping to strengthen cooperation with China in trade and investment so as to drive the world to develop in pace with China.

“What really impressed me is the awareness of the challenges that they have to face, and at the same time, the fact that they have a longer-term vision in order to address those problems,” said Matteo Marchisio, International Fund for Agricultural Development Representative for China, the Republic of Korea, and the Democratic People’s Republic of Korea.

“We would like to see China being more open, but we do see positive signs. So now it’s left to implementation,” said Alan Beebe, president of the American Chamber of Commerce in China (AmCham China)

AmCham China is hopeful that under a new U.S. administration, there will be forward movement in major bilateral trade agreements, said Beebe.

“In terms of trying to anticipate how a new Biden administration may focus and prioritize on the trade and economic relationship, it’s a little early to tell, but I do think that there’s some clear signals definitely from our member community.

First, is that the phase one trade agreement, which was a long drawn out negotiation, and both countries stand to benefit from that agreement. Of course, our member companies enthusiastically support that agreement, so we do hope that that will continue.

But there are many other, you could say harder, more structural issues that were left to phase two, so one of our hopes is that phase two, those areas of the agreement will be continued to be discussed and there will be positive movement forward on some of those harder issues.

It’s going to be kind of up to the new administration, as well as China’s government leadership to determine what is the best path forward in a way that’s good for China and that’s good for the U.S.,” said Beebe.