The last few years have seen a massive shift in China's economy away from an overreliance on exports and investment towards a growth model that is based on consumer spending.
Massive markets and consumer bases combined with manufacturing and labour advantages mean emerging economies can now out-compete the former giants of Europe, Japan and the US.
With its firm commitment to more reform and opening up, China, the second largest economy in the world, shoulders a massive responsibility to promote free trade and globalization.
Looking ahead, there is still a lot to do to deregulate China's trade policy and further open its market commensurate with its power. There are multiple instruments that can be used for that purpose.
China will also continue to improve the economy by expanding the market access via the negative list. This policy has been long in the making, and is an important economic reform.