China deepens reform and opening up, appeals to global investors
/ Our Today
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The opening ceremony of the annual Boao Forum for Asia (BFA) conference 2024 was held in the Hainan Province on March 28, with China’s top legislator Zhao Leji stressing China’s economic potential, appealing to international investors and calling for Asia solidarity and cooperation for regional prosperity in his keynote speech at the forum.
Zhao Leji, the chairman of the National People’s Congress Standing Committee, highlighted that China is pursuing a path of high-quality development and is deepening reform and opening up, which he said will provide great development opportunities for Asia and the world.
To transform its economy and achieve sustainable development, China now is deepening reforms. For example, China has pledged to further shorten the negative list for foreign investment, remove all restrictions on foreign investment access in the manufacturing sector and deliver national treatment for foreign businesses.
On March 22, the Chinese Commerce Ministry rolled out the first negative list for cross-border trade in service sectors at the national level, in which sectors that are not listed are, by default, open to foreign service suppliers under the same conditions as for domestic service suppliers, a major step for China’s further opening up.
Zhao also expressed optimism for Asia’s development at the forum, saying it’s the “most dynamic and promising” region in the world, but he warned that protectionism and a cold-war mindset are undercutting some countries’ efforts for development and pushing the world toward division and confrontation.
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