Business Environment: China and Trade

business environment: It is encouraging to see that China, the world's second largest economy, has reaffirmed its determination to push forward inclusive economic development and defend the multilateral trading system, according to Global Times China. Actions always speak louder than words. At the G20 Osaka summit commencing Friday, China declared its latest pledge that it would further open up its market, proactively expand imports, continuously improve its business environment for foreign enterprises and press ahead with various trade agreement negotiations. Recent years have seen consistent efforts of China to promote openness, support multilateralism and strive for common development. Trade cooperation thrives under the initiative, with bilateral trade volume between China and the countries participating in the B&R Initiative growing 9 percent year on year in the first five months of this year. A case in point is the China-proposed Belt and Road B&R Initiative, under which China has signed cooperation documents with more than 150 countries and international organizations, effectively spurring trade and economic growth, stimulating investment and creating jobs. (news.financializer.com). As reported in the news.