Promoting the construction of a new type of international economic relations is an inevitable result of China's growing cognition of international economic relations and an inevitable choice for China to continue to open wider to the outside world. Although the new theory of international economic relations is still in the process of dynamic development and continuous improvement, it already has the unique characteristics of an independent and complete theoretical system, that is, the core concept of “a community of shared future for mankind”, the theoretical core of “win-win cooperation” and the path choice of “extensive consultation, joint contribution and shared benefits”. China is methodically carrying out new practices through “developing”, “breaking the old” and “establishing new ones”, and has provided a certain material basis, discourse ability and innovation path for promoting the construction of a new type of international economic relations. The “institutional openness” emphasized by the Fourth Plenary Session of the 19th Central Committee corresponds to the “institutional formation stage” of the evolution of new international economic relations, which means that new international economic relations have begun to institutionalize from preliminary theory and practical experience.