Already a subscriber? Make sure to log into your account before viewing this content. You can access your account by hitting the “login” button on the top right corner. Still unable to see the content after signing in? Make sure your card on file is up-to-date.
Chinese President Xi Jinping underscored the importance of global economic interdependence at Beijing’s Belt and Road Initiative (BRI) forum.
In his opening remarks, President Xi addressed the declining foreign investment and urged Western nations to perceive China’s economic growth not as a threat but as a beneficial asset. He emphasized, “We stand against unilateral sanctions, economic coercion, decoupling, and supply chain disruption.” Xi further stated that viewing “others’ development as a threat or taking economic interdependence as a risk will not make one’s own life better.” He also highlighted China’s interconnected success with the world, mentioning, “When China does well, the world will get even better.”
In a bid to boost foreign investment, which recently experienced a 25-year low, Xi committed to simplifying investment processes, specifically noting a comprehensive removal of “restrictions on foreign investment access in the manufacturing sector.” He also spoke of plans to open up “cross-border trade and investment in services” and expand market access for digital products.
Additionally, he touched upon China’s forthcoming reforms in areas like state-owned companies, the digital economy, intellectual property rights, and government procurement. Xi also affirmed China’s continued commitment to invest in developing countries via the BRI.