Investing in innovation

China should further lower domestic market barriers to foreign investors in a bid to narrow the gap with developed countries in financial openness. Its rising international economic status, deepened economic and trade links with surrounding countries mean China can push for regionalization and internationalization of the yuan. Besides, the country should also further lower the import tariffs on finished industrial products to attract high-tech imports and facilitate participation in the utilization of global resources and the research and development of some core technologies.

The author is an economics researcher with the State Information Center.