Global praise for bold moves taken by China
BUSINESS leaders and experts from around the world yesterday hailed China’s bold moves to expand reforms and opening-up that were unveiled at this year’s Boao Forum for Asia annual conference.
In his keynote speech addressing the opening ceremony, Chinese President Xi Jinping put forward a set of new and landmark measures to significantly broaden China’s market access, strengthen protection of intellectual property rights, improve the investment environment for foreign investors, and reduce import tariffs for vehicles and some other products.
Jean-Pierre Raffarin, former French prime minister, said Xi aims “to improve international cooperation against protectionism.” He added “there is no winner with protectionism and we want win-win dialogue.”
Stephen Groff, vice president of the Asian Development Bank, echoed Raffarin in highlighting the significance of an open economy. “We believe that the open economy and open trade are critical for a sustainable global economic growth.”
He also said opening-up would increase competition “in whatever sector that is opening-up, which ultimately results in more innovation and better products and better services that ultimately benefit consumers.”
Sorao Sugiyama, attache at Japanese Consulate-General in south China’s Guangzhou, said the proposals that Xi has introduced at the forum are “very significant.”
He noted that Japan’s population is shrinking, so it needs to expand overseas markets, saying that as trade policies in some countries like the United States are turning protectionist, China’s markets are important to Japan.
Serge Degallaix, general director of the Prospective and Innovation Foundation in France, said Xi’s speech has been very much expected throughout the world.
“We know the president’s conviction in favor of openness, free trade and a balanced growth,” he said, adding that China has been sticking to openness, and the new reforms measures that Xi freshly announced, which mainly concern finance, manufacturing and the protection of intellectual property rights, are very important after 40 years of reforms and opening-up.
Alexei Chekunkov, general director of Russia’s Far East and Baikal Region Development Fund, said he thinks that it is fitting for Xi in his speech to compare fresh air to an attractive environment for investment.
Chekunkov said he believes it is an important signal of China’s determination to further integrate into the global economy.
He also noted that China’s economy has been pivoting from a focus on high-speed growth to quality-oriented growth, and the Chinese people’s buying power is also growing, saying that companies in many countries, including those from Russia, are seeking to explore Chinese markets with the hope of winning over the hearts of Chinese consumers.
In his speech, Xi said China is going to explore the opening of free trade ports.
“Russia has set up a free trade port in Vladivostok. China and Russia share similar goals in this area, and therefore can share their experiences,” Chekunkov said.
“China’s reform and opening-up policy,” he added, “has made it a successful participant of the world economy.”