The year of 2019 marks the 70th anniversary of the founding of the People's Republic of China. Over the past seven decades, China, on the one hand, has experienced a historic change from a closed and semi-closed economy into a fully open economy. China has been actively participating in the economic globalization, playing the due role in contributing to the common development of mankind. On the other hand, China, in order to promote reforms of the global governance system, has been actively making efforts to establish an open world economy and to build a community with a shared future for mankind. Therefore, China is gradually moving towards the center of the world stage, playing an indispensable role in global economic governance. From the perspective of the coordination of international and domestic rules, the paper divides the process of China's participation in global economic governance in the past seventy years into four phases: to explore, to introduce, to study and apply, and to lead and make international rules. Especially since the 18th National Congress of the Communist Party of China, China has carried out a comprehensive review of the situations both domestic and abroad. Under the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, China, with great passion, is participating in and leading the reform and construction of the global governance system, making the economic globalization more open, inclusive, balanced and beneficial to all. In the context that the world is undergoing profound changes unseen in a century, China, with the aim to build a community with a shared future for humankind, shall utilize the Belt and Road Initiative as an effective path to make great breakthroughs by improving multilateral system within the WTO framework. By taking these measures, China will be able to enhance the coordination of domestic and international rules in all aspects and therefore strengthening its capacity for effective participation in global economic governance.