The Bo'ao Forum for Asia has concluded this week --- but the highlights of Chinese President Xi Jinping's keynote speech at the annual conference continues to raise much attention around the world. Including in South Africa, where an editor at a local Cape Town newspaper applauded China's commitment to further open up its economy. Jane Kiyo has more.

China's southeastern resort island of Hainan-- played host to the 17th annual Boao Forum for Asia earlier this week. In attendance were leaders from government, business and academia in Asia. Globalization and free trade topped the agenda for this year's annual conference. Asia is the fastest growing economic region----with China, Japan and India currently the top three economies.

DONWALD PRESSLY EDITOR, CAPE MESSENGER "China has been a huge success as an economy, it's grown meteorolicly since the reforms of 1978 I think it was, and every year they've had 9, 10% growth rates a year as far as we can see, I think it's level'd off a little in recent years but it's still near double digit growth and obviously thousands of people have been taken out of poverty, in fact hundreds of millions I think is the figure of people have been moved from poverty or the poor class of people into the middle class, they've all naturally become consumers not only of Chinese goods and services, but from services around the world."

China is set to overtake the US as the world's biggest economy in 2024. And at the forum--Chinese president Xi Jinping shared his economic plans for the next five years. Xi announced that he would promote import growth and open up China's service sector to greater foreign investment. The move comes at a time when trade tensions between China and the United States have risen.

DONWALD PRESSLY EDITOR, CAPE MESSENGER "It is clear that President Xi is continuing the process of economic reform in China, and I find it interesting that at the very time that President Donald Trump of the United States is closing up on trade ties with the world imposing various trade barriers in the United States particularly aimed at China. China is moving in the opposite direction, actually removing trade barriers on imported goods, opening up its free trade ports."

Analysts say initiatives such as the One Belt One Road programme will play a huge part in boosting the Chinese economy---and the rest of the world will also benefit.

DONWALD PRESSLY EDITOR, CAPE MESSENGER "Many of the countries involved in trade with China don't want it to be a one way street, but providing efficient corridors, the transport corridors for the trade, including beefing up ports in Africa (talking about Africa here), is a necessary component of any trade whether it's from one direction to the other, so it can only as far as I can see be good news for the world and for trade between China and its economic partners, its trade partners."

Observers say China's 40 years of relentless market reforms and opening up have generated tremendous wealth for the country and created opportunities for many more countries. And with the new commitments made by President Xi---- China will be in a good position to be a champion of free trade and open markets.