Door will open wider to foreign investors
Print Edition
China will deepen economic and financial reforms and further open its markets to foreign investors as it looks to move from high-speed to high-quality growth, President Xi Jinping said yesterday.
It will push ahead with market-oriented reforms of its foreign-exchange rate as well as its financial system, and let the market play a decisive role in the allocation of resources, Xi said.
“China’s open door will not be closed, it will be only be opened wider,” he added.
The government will “clean up rules and practices that hinder a unified market and fair competition, support development of private firms and stimulate vitality of all types of market entities,” Xi said, while pledging to further open China’s service sector to foreign investors.
However, while expressing support for market reform and private firms, Xi also called for stronger, bigger state firms.
The government will “promote strengthening, improvement and expansion of state capital, effectively prevent loss of state assets, deepen reform of state-owned enterprises, development a mixed-ownership economy and cultivate globally competitive world-class firms.”
Xi’s comments reiterated a long-standing pledge by Party leaders to give a greater role to free-market forces to improve efficiency and put the economy on a more sustainable growth path.
China should also strengthen consumption as a foundation for economic development, Xi said, and will expand the middle class and narrow the gap in development between rural and urban areas.
A campaign to rein in high debt levels and industrial overcapacity will continue.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
