President Xi: China to further optimize its business environment

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China will build better conditions for foreign investment, Chinese President Xi Jinping said Tuesday at the Boao Forum of Asia (BFA) Annual Conference 2018, showing the country’s commitment to opening up its market and carrying out further reform.

China will complete the revision of the negative list on foreign investment in the first half of the year and fully implement the management system based on pre-establishment national treatment and a negative list, Xi said.

Comparing the investment environment to air, Xi said that only fresh air can attract more investment from the outside.

To make China more attractive to global investors, the country will optimize the investment environment instead of merely offering preferential policies, he said.

Therefore, China will be in line with global investment practice and rules, improve transparency and encourage competition, according to Xi.

To achieve these targets, China has made efforts in institutional reform.

In March, China established a host of new agencies such as the State Administration for Market Regulation as part of a major readjustment of government institutions.

Xi delivered the keynote speech at the opening ceremony of the forum. The four-day event, themed "An Open and Innovative Asia for a World of Greater Prosperity," is being held in southern China’s Hainan Province on April 8-11.