CLOSER ECONOMIC SYMBIOSIS

Change is already afoot in that direction.

Thanks to China's efforts in economic restructuring, the denotation of the "Made in China" label is gradually shifting: Clothes and shoes are being replaced by much fancier stuff like laptops and bullet trains; the nation that used to clothe the world is now equipping it for better development with innovative products and cutting-edge technology.

An illustrative example is China' s high-speed rail systems. Boasting high performance and competitive prices, Chinese speedy trains have become increasingly attractive across the world. The first Chinese-built high-speed railway on foreign land was completed in Turkey in mid-January, and other cooperation deals have been reached with Thailand, Hungary and Serbia.

The mounting popularity of Chinese express trains, along with the global expansion of such Chinese behemoth manufacturers as SANY Group, is vividly emblematic of the rising status and influence of China's manufacturing sector.

The China-world economic symbiosis, however, is not confined to textiles and steel. Something less visible yet no less important is picking up momentum as well, and is playing an increasingly contributive role in undergirding the international trade.

That is the internationalization of the Chinese currency. Thanks to its unique advantages, Hong Kong has established itself as an offshore RMB center, but several others are catching up.

In April 2012, the City of London launched an initiative to turn the Square Mile into a center for RMB business. Besides, "red-back" business is gaining steam in Singapore too. Meanwhile, more and more countries have reached local currency settlement arrangements with China, promoting its international use.

Because of Washington' s flirtation with sovereign default, the world' s confidence in the dollar has been eroded. Worldwide traders are propelled to look for options, and the yuan is offering them a promising alternative.

During the "two sessions," representatives from across the country will explore ways to build upon the past progress and further push forward China' s economic and financial reform, which will benefit both China itself and the world at large.