Full coverage: 95 years of glory

The policy of reform and opening up was first put forward in early 80s. It then opened the door for China towards the world and the world towards China. In the fifth episode of our special series "95th Anniversary of the CPC: Serving the People", we tell you more about how fruitful the policy is to China and the world.

"So the interaction between the global economy and the Chinese economy is an inevitable consequence of economic development being prioritized. And for the first entry of foreign-funded companies into China in the four special economic zones that were created in the early 80s. Primarily, that was aimed at the overseas Chinese, primarily at Hong Kong businesses to move their production from Hong Kong into Guangdong and a couple of other places. And then later, as that was shown to be successful and in the interest of the Chinese people and the Chinese economy, so is broadened to other countries, other peoples and a wide area of activity," said Stephen Perry, chairman, The 48 Group Club.

"Openness has to do with really creating opportunities for many many different players, which also means more competition, more competition means higher productivity, innovation, better ideas, better growth, better standard of living. And so I think the whole idea about opening up that China has started thirty years ago was very important to really move the whole country, the whole economy to a new level. Yes, I think we have seen many Chinese companies really engaging internationally in Asia and around the globe. I think, again, it’s very important because it means the capabilities of the Chinese companies are brought to be for the rest of the world, not just as a provider of cheap products, but also as investors, as companies who bring innovation," said Dr. Hans-Paul Burkner, chairman, The Boston Consulting Group GmbH.

"I think the contribution of Mr Deng Xiaoping is recognized world over. He started the process of opening up of China. And since then China has made great progress in innovation, technology, in mobilizing the people for, you know, national development. He had that vision that China being such a big country can make progress only when it interacts more with the outside world and, you know, explores opportunities rather than being a closed economy. So that policy has been fruitful for China and for the world," said Masood Khalid, ambassador of Pakistan to China. 

"And anything that icebreaking, we know as the ice breakers, anything that icebreaking always involve controversy, always involves people, arguing about whether you should or shouldn’t take the risk. They did take the risk. They knew us. They knew we wouldn’t try and fool them make use of China or anything, not that at all. And then began a big increase of foreign investment into China for development of the Chinese market. So it’s an exercise that results for decision to prioritize economic development," Stephen Perry said.