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"Standing at the historic starting point of the new era, China will strive to make new ground in pursuing opening up on all fronts, and steer economic globalization toward a more open, inclusive, balanced and mutually beneficial direction," Liang said.

U.S. LOSING?

Despite progress, there is still much room for improvement in the business environment and services, said Sang.

First, we should pursue win-win cooperation to build an open economy. Openness and cooperation are the sure way to achieve progress in science and technology and growth of productivity. A trade war should be rejected, because there will be no winner. Economic hegemony is even more objectionable, as it will undermine the collective interests of the international community; those who pursue this course will only end up hurting themselves.