Chinese president pledges openness, common development

Source:Xinhua Published: 2013-4-8 19:52:47

President Xi Jinping pledged Monday to keep China's door open to the outside world and to pursue development that benefits the whole world.

China will "expand, deepen and widen" its economy, firmly oppose protectionism in any form and prepare itself to solve economic and trade differences with other countries through consultation, Xi told representatives of 30 enterprises from China and abroad at a round-table dialogue held during the ongoing Boao Forum for Asia Annual Conference 2013 in south China's Hainan Province.

"China promotes the establishment of a multilateral trade system featuring balance and development," he said.

Xi reminded the entrepreneurs that China has fulfilled its promises to the World Trade Organization over the past 10 years by making its business environment more open and standardized.

China's market environment is fair and there is no "finish line" for improving the market economy, he said.

"We are protecting the legitimate rights of foreign enterprises according to law," he said.

All companies registered in China, domestic and foreign alike, are important components of China's economy, he said.

We will continue to enhance the legal system and improve investment environment so that all enterprises can enjoy equal access to production, market competition and legal protection, Xi said.

He called on the entrepreneurs to form a united voice and vision for promoting the common development of Asia and the world, encouraging foreign enterprises to seize the opportunities that are available in China.

Yasuo Fukuda, chairman of the forum's board of directors and former Japanese Prime Minister, also attended the dialogue.

Business leaders attending the dialogue echoed Xi's remarks, saying they expect China will deepen reform and become more open.

China's economy has great potential for enabling common development, the business leaders said.

Thanks to Chinese demand, Fortescue Metals, a major Australian iron ore producer, has become one of the world's most successful enterprises in the industry, the company's chairman Andrew Forrest said.

Fortescue Metals will expand its investment in China and step up participation in the country's social development, Forrest said.

Dhanin Chearavanont, chairman of the Thailand-based Charoen Pokphand Group (CP Group), said China should support the development of small businesses and encourage private capital in the agriculture and service sectors.

Zein Abdalla, president of Pepsi, said he hopes the Chinese government can reform its administrative approval system and encourage foreign companies to invest in agricultural and eco-friendly industries.

Xi reiterated that China's development is a win-win process that can benefit the rest of the world, including its neighbors.

Last year, about 15.76 million Chinese people traveled to neighboring countries in east and southeast Asia. Over the next five years, China's imports will reach 10 trillion US dollars and its outbound investment is expected to grow rapidly.

Japanese businesses are looking forward to helping to sustain mutually beneficial relations between the two countries and will promote trade cooperation, said Koji Miyahara, chairman of Japanese shipping giant Nippon Yusen Kabushiki Kaisha.

President and CEO of Sweden's Volvo Group Olof Persson also expressed confidence in China's market potential, saying the company will participate in Chinese environmental protection programs.

Xi praised the discussions conducted by the conference's attending entrepreneurs, saying the discussions will help promote cooperation within Asia, as well as between the continent and other regions.

"We hope to realize the common development of Asia and the world," Xi said.

Posted in: Diplomacy

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