China’s opening up in an all-round way is the most important event in the world economy for nearly half a century. Through the reform and opening up, China has integrated into economic globalization, which assisted China’s economy to develop rapidly for a long period of time. However, there’re fundamental changes in the internal and external environment of China’s economic development, producing a series of significant theoretical questions related to the open economy in the new era to be answered.The development of the world economy is facing great changes, and the essence is that it has stepped into the period of “rule remodeling”. The “opening up” has already been provided with a new connotation. The essential feature behind the division of global value chain is the factor division. The opening has changed from market to production, from commodity-and-factor flow type to institution-and-rule one, from manufacturing industry to service industry, and from bilateral opening to structural coexistence. The concept of “community of human destiny” is an endogenous requirement of the opening-up’s new connotation, which reflects its characteristics of structural coexistence, and is helpful to avoid the emergence of international competition like “prisoners’ dilemma”. The world economy has entered into a “rule remodeling period”. In this process, China has its own interest needs aimed at the new system of international economic governance, and is certain to make contributions to the formulation of fair and reasonable regulations. China has gradually shifted from the “opening up” stage to the “open development” stage, in which attaching importance to the construction of “domestic big cycle” will be an important trend.
