A day after Chinese President Xi Jinping delivered a speech at the conference commemorating the 40th anniversary of the reform and opening-up, Chinese and foreign businessmen welcomed his statements. As companies remain optimistic, let's look at some of China's transformative policies implemented in recent years.

One of the most fundamental economic reforms conducted in recent years has been the structural reform on the supply side. For decades, China has been relying on the demand side – consumption, exports and investment – for growth. But now the focus is to be shifted to capital, innovation and supportive investment environments. This is great news for China's top innovation companies. 

Carrying on the reform and opening-up path requires great commitment and faith, especially when the world is seeing a rise in unilateralism and trade protectionism. However, President Xi Jinping has said repeatedly that China will never close its doors. 

In that spirit, China has continued to experiment with free trade zones around the country. Today, China has 20 free trade zones (FTZ) under construction, partnering up with 32 countries and regions. In the past five years, the 12 operational FTZs have attracted 560,000 new businesses and 32,000 foreign companies. They contributed over 12 percent of trade volume and 12 percent of foreign direct investment respectively to the nation in 2018. 

Fast economic growth in the first 35 years has led to new problems. How can sustainable development be ensured? How can urban and rural development be balanced? How can small and medium-sized businesses be fully supported? China successfully held the first Shanghai International Import Expo this year, during which Chinese companies were encouraged to show the world what they have to offer, drawing 3,600 firms and over 150,000 buyers.