Expert: Chinese market becomes more attractive for investors

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Chinese President Xi Jinping on Tuesday promised to open the country's economy further and announced several measures to improve the investment climate in China.

Opening free and fair trade is positive for the world economy. President Xi said China does not aim to pursue trade surplus, and hopes to expand imports and reduce import tariffs on some other products.

“It is a very welcome message from President Xi. I think it benefits not only Chinese economy but also the global economy. And importantly, opening-up provides plenty of opportunities to investors and improves products and services to Chinese consumers,” said Stephen Groff, vice president for East Asia, Southeast Asia and the Pacific of the Asian Development Bank.

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Meanwhile, China will do more to protect intellectual property rights by protecting the legitimate intellectual property rights of overseas and domestic enterprises as a prerequisite. We encourage Chinese and foreign enterprises to carry out normal technical exchanges and cooperation.

“I believe the improvement of investment climate will make China a more attractive option for different investors. Global market returns back positive reaction to President Xi’s commitment. At the same time, it gives Chinese domestic industries a signal about the adjustment and gives the opportunity for them to prepare,” Stephen added.

However, more overseas investors entering China’s market may affect local business, especially giant financial institutions. Stephen indicated that the signaling is important if industries or sectors adapt to the adjustment, and it will make them more competitive with their international counterparts.