Interview: China's reform and opening-up contributes to global economic development: Japanese expert

TOKYO, March 28 (Xinhua) -- CHINA's policies of opening up over the years have charmed the international community and injected dynamism into world Economic growth, said Japanese economist Noriyoshi Ehara.

Ehara, chief researcher of the Tokyo-based Institute of International Trade and Investment, shared his thoughts on CHINA's opening-up and Economic development in an interview with Xinhua recently, as the annual conference of Boao Forum for Asia (BFA), which focuses on openness, innovation and globalization, is held in CHINA's southern province of Hainan on March 26-29.

The focus of the 2019 BFA conference demonstrates CHINA's attitude towards an open economy as well as the needs of the times, Ehara said.

"Openness, innovation and globalization are the necessary and sufficient conditions for the just and objective reform of global governance, which are expected by CHINA as well as the international community," the expert said.

CHINA fully recognizes and advocates Economic openness with efforts such as promoting the Belt and Road Initiative, he said.

"It can be said that openness, innovation and globalization are the three integrated conditions for the development of the world economy and the formation of global governance in a new era," Ehara added.

At the opening plenary of the BFA, a Chinese leader said that CHINA will continue to expand opening-up of its financial sector, adding to the efforts for further openness since last year's BFA.

"The opening-up polices CHINA has adopted over the past years serve as deepening efforts of reform and opening-up which has contributed tremendously to the development of world economy," Ehara said.

In addition, the endorsement of Foreign Investment Law in CHINA is expected to boost the confidence of overseas investors and Japanese corporations in investing in CHINA and provide new opportunities for deepening Economic exchanges, he said.

The expert also spoke highly of CHINA's efforts in transforming Economic driving force and deepening middle class consumption structure.

"What CHINA desires is high-quality development, which means that the Chinese economy is pursuing a reasonable growth rate," he said.

CHINA emphasizes and is also implementing deepening reforms, Ehara said, listing efforts such as reforming supply front, streamlining government administration and rationalizing services.

"The efforts will lay a foundation for future development including the improvement of business environment, social security and people's life conditions, and the promotion of new-type urbanization," he said.

What's more, Ehara said the deepening of CHINA's middle-class consumption structure contributes to world Economic stability by allowing CHINA to expand imports.

"Overseas tourists from CHINA are also making great contributions to the vitality of local economies," he said.