Monday 23 April 2018

Xi vows greater economic openness and warns against trade 'Cold War'

Xi Jinping delivered a keynote speech to the Boao Forum for Asia in Hainan. Photo: AFP/Getty Images
Xi Jinping delivered a keynote speech to the Boao Forum for Asia in Hainan. Photo: AFP/Getty Images

Erich Zann

Chinese President Xi Jinping reiterated pledges to open up sectors from banking to carmaking to foreign firms and at the same time warned against returning to a "Cold War mentality" amid trade disputes with the US.

President Xi pledged a "new phase of opening up" in his keynote address to the Boao Forum for Asia, China's answer to Davos.

The speech offered little new policy, but Xi affirmed proposals to increase imports, ease foreign-ownership restrictions and better protection for intellectual property - all central issues in US President Trump's trade gripes.

"Human society is facing a major choice to open or close, to go forward or backward," Xi told hundreds of investors gathered on the resort island of Hainan, in a speech that didn't mention Trump's name. (Bloomberg)

Irish Independent

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