At the ongoing 7th China International Import Expo (CIIE) in Shanghai, China has reaffirmed its commitment to high-level economic opening up and inclusivity.

The World Openness Report 2024 released on November 5 at the 7th Hongqiao International Economic Forum, a central event of the expo, found things to be optimistic about despite the current negative trends in the world economy, especially with China’s performance.

However, it also sounded a note of warning. It said the World Openness Index, assessing the openness levels of 129 economies from 2008 to 2023, showed that the worldwide landscape of openness had declined by 0.12 percent in 2023, indicating mounting challenges to openness worldwide.

Although policies aimed at openness rose by 0.7 percent, the Performance Index saw a 1 percent decrease, underscoring a cooling global environment for open cooperation. This decline, accompanied by increased obstacles, highlights the critical need for renewed collaboration and policy innovation.

However, China remained a bright exception, showing significant progress in its opening up. From 2008 to 2023, China's openness index rose from  0.6789 to 0.7596, an increase of 11.89 percent, placing it among the top economies globally in terms of growth rate.

"China's opening up is a model for mutually beneficial engagement. In the current complex and ever-changing international landscape, events like the CIIE have become shining symbols of China's commitment to opening up," Qu Weixi, director of the Research Center for the Hongqiao International Economic Forum, said.

Cecilia Ugaz Estrada, managing director of the directorate of strategic planning programming and policy of United Nations Industrial Development Organization, said the World Openness Report 2024 points to digitalization and energy transition as the two new driving forces of global economic growth.

"These megatrends present significant challenges, particularly for developing countries, but at the same time open new avenues for industrial development and international cooperation," she said.

The report identified digital opening-up, environmental and climate governance, and the service sector as sectors where international collaboration has gained momentum in the face of rising protectionism. It said these sectors hold potential for global growth and cooperation.

Qu hoped the report would stimulate further dialogue and consensus-building on opening-up. "We hope that the release of the World Openness Report 2024 will stimulate deeper and broader discussions on issues related to global opening-up, build more consensus on opening-up, form greater synergy on opening-up, contribute to building an open world economy, and promote building a community with a shared future for humankind," he said.

The forum, themed "High-Standard Opening Up for Universally Beneficial and Inclusive Economic Globalization", has 19 sub-forums under four modules: Opening Up and Development, Opening Up and Collaboration, Opening Up and Innovation, and Opening up and Sharing.

The forum topics include climate change, the Global South, the 30th anniversary of the World Trade Organization, artificial intelligence, new-energy vehicles, and consumption upgrades.

Both the CIIE and the forum opened on November 5 and will conclude on November 10.