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China's capital intensity ratio was 1 percent in 2001, and as of 2016, it was 18 percent, marking an 18-fold growth. Now, with overcapacity, and excess inventory and capital, China should go global supported by capital accounts, facilitating outflows of the renminbi through overseas investment and export of capital. Meanwhile, China should bring back the renminbi by exporting industrial products. Then, a full circulation cycle of the yuan will be completed.
China will further open up and strengthen international cooperation in technology to promote a favorable environment for global talent, Wang Zhigang, minister of science and technology, said on Sunday.
China's capital markets are now very attractive due to the nation's success in fighting the pandemic while also, almost uniquely, sticking to a prudent monetary policy.
China will make more efforts to defend the multilateral trading system, contribute to the reforms of the World Trade Organization and help make global economic governance system fairer and more rational, it said.
China's accelerated steps in further opening its financial sector will draw more foreign banks and firms and will give a major boost to local market efficiency and vitality, according to economists and financial experts.
来源：资阳报