It's day three of the annual Boao Forum for Asia. At the official opening ceremony this morning, Chinese President Xi Jinping delivered a speech on his thoughts and wishes for the future development of Asia and the world. President Xi unveiled a series of new policies and measures to further open up China's economy. It is seen as a powerful signal delivered by the Chinese government, echoing its consistent and strong stance on opening up. CGTN's Zou Yun has the details.

Wider market access, a more friendly business environment, enhanced efforts in protecting intellectual property rights, and an expansion of import trade flows. Those were the 4 major new policies unveiled by the Chinese president at the Boao Forum for Asia. Xi Jinping said that since the country's opening up and reform in 1978, remarkable progress has been made in China's economic and social development. He pointed out that the nation has gradually become a stabilizer and propeller of global growth and development.

XI JINPING CHINESE PRESIDENT "China has grown into the world's second largest economy, the largest industrial producer, the largest trader of goods and the holder of the largest foreign exchange reserve."

President Xi said a number of landmark measures will be launched to significantly broaden market access.These include raising foreign equity caps in the banking, securities, and insurance industries. The automobiles, ships and aircraft sectors, are also set to open up. President Xi also said that China will become more attractive for foreign investors.

XI JINPING CHINESE PRESIDENT "The investment environment is like air. And only fresh air attracts more investment from the outside. China relied mainly on providing favourable policies to foreign investors in the past. But now we will have to rely more on improving the investment environment. We will enhance alignment with international economic and trading rules, increase transparency, strengthen intellectual property protection, uphold the rule of law, encourage competition and oppose monopoly."

Xi Jinping outlined that the protection of intellectual property rights provides the biggest boost to enhancing the competitiveness of the Chinese economy. He added the country will work hard to import more products that are desired by the Chinese consumer.

ZOU YUN BOAO, HAINAN "China has long been a supporter of globalization and free trade. The newly-unveiled measures not only signal China's commitment to its promise of opening up, but also show the country's role in leading development both at home, and around the world. ZY, CGTN, BJ."