How has Xi Jinping led China's reform?

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“China’s open door will not be closed, it will be opened wider,” Chinese President Xi Jinping vowed to continue with the reform and opening-up policy during his keynote speech at the opening ceremony of the 2018 Boao Forum for Asia (BFA).

He expounded on China’s achievements since reform and opening-up, while announcing new measures to further open up the country’s markets. This year marks the 40th anniversary of China's reform and opening-up, a policy that has brought drastic changes to the country. The policy is guaranteed to be a success, Xi added.

After 40 years, China has become the world’s second-largest economy, with its gross domestic product (GDP) reaching 82.71 trillion yuan (about 12.84 trillion US dollars) in 2017. According to President Xi, China's GDP has averaged an annual growth rate of around 9.5 percent over the past four decades.

In 2012, Xi made his first inspection tour as General Secretary of the Communist Party of China (CPC) Central Committee to Guangdong Province, which was chosen as a pioneer for the country’s opening-up to the world. The visit signaled Xi's determination to continue with the reform policy.

"Our country's reform has entered a crucial and delicate stage, which requires us to have more political courage and wisdom and seize opportunities to enhance reforms in important sectors," he said during the inspection.

Xi has highlighted the importance of deepening reform on many occasions since then.

High speed trains. /Xinhua Photo

Since the 18th CPC National Congress in 2012, more than 1,500 reform measures have been rolled out. Projects were undertaken in deepening supply-side structural reform, strengthening the coordination mechanism of financial supervision, implementing rural land reform, and expanding the medical insurance coverage to all urban and rural residents.

In 2017, 79 major reform tasks were completed and 399 projects were formulated by the central authorities.

In his report at the 19th CPC National Congress last October, Xi underscored China's commitment to deepening reform and opening-up, saying the country must break new ground on all fronts.

Since then, more measures have been implemented, including restructuring the Party and state institutions, adopting a new supervision law, cutting red tape, easing regulations for investors in free-trade zones, as well as initiating wage reform in state-owned enterprises.

Chinese President Xi Jinping delivers a New Year speech to extend New Year greetings to all Chinese, and best wishes to friends all over the world, in Beijing, China, Dec. 31, 2017. /Xinhua Photo

As President Xi pointed out in his 2018 New Year Address, reform and opening-up "has been the only path to the development and progress of contemporary China and the only path to the realization of the Chinese Dream."

He called on the nation to "surmount all obstacles to carry the reform further to its ultimate triumph."