The third plenary session of the 20th Central Committee of the Communist Party of China has released a communique that outlines the future direction for China’s economic development. This meeting has drawn significant attention from economists and experts worldwide.
Last month, CGTN aired a special program aimed at gathering opinions and insights from the Pacific region. Participants included Dr. Joseph Veramu, an economist and consultant at Fiji National University, and Dr. Michael Yang, the secretary-general of the South Pacific Islands Institute of Asian Studies.
The institutional opening of China is seen as a new opportunity for the Pacific. David Mahon, Executive Chairman of Mahon China Investment Management, emphasized that the message of “opening up” is long overdue, asserting that it signals China’s readiness for investment and seeks to correct misconceptions about the nation. However, he pointed out the need for clarity regarding which sectors are open to foreign investment.
Over the past 20 years, Pacific island countries have seen a collective increase in investments from China. “Interestingly, this has occurred in a region that is largely overlooked by the US,” Dr. Mahon noted.