Report: Xi’s leadership credited for successes

for foreign investors, while others are presumed to be open. The list is meant to facilitate foreign investment as the country’s policies become more predictable.

“Further opening up China’s economy for foreign investment — including establishment of a nationwide negative list — will be key for productivity increases in the economy,” said Bert Hofman, the World Bank’s country director for China. “It will also contribute to maintaining an open international economic system, which remains key for China’s future and healthy development of the world economy.”

Li also said China will take forceful measures to forestall financial risks. It will improve supervision over shadow banking, internet finance and financial holding companies as well as improving financial regulation and strengthening local government debt management.

The Government Work Report also reviewed China’s reform and development over the past five years.

Li said, “Over the past five years, we have encountered a great many problems and challenges . ... The achievements we made ... we owe to the strong leadership of the Party Central Committee with Comrade Xi Jinping at its core, the sound guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, and to the concerted efforts of the Party, the military, and the people of all our nation’s ethnic groups.”