President Xi Jinping and his wife Peng Liyuan wave to the crowd upon their arrival in Seattle on Sept. 22. (Photo : www.news.xinhuanet.com)
President Xi Jinping has reiterated that China will not change its policy on foreign investment, cited the Wall Street Journal from a written report published on Tuesday, Sept. 22.
According to the Xinhua News Agency, Xi made the remarks in an interview ahead of his visit to the U.S.
"Attracting foreign investment is our long-term policy. Such policy will not change," Xi said.
The report added that Xi left Beijing in the afternoon of Sept. 22 for the state visit to the United States from that same day to Sept. 25, Friday, at the invitation of U.S. President Barack Obama.
"Nor will our protection of the lawful rights and interests of foreign companies in China and our commitment to better services in favor of foreign companies in China," the Chinese president added.
On Sept. 23, Wednesday, President Xi said that China plans to reduce restrictions on foreign investment, as reported by Reuters during Xi's stop on the West Coast, the first of his week-long U.S. trip.
Xi's visit to the West Coast will offer him a chance to highlight cooperation with the U.S. before he proceeds to Washington.
"We are working to create a new open economic system, push forward reform of foreign investment management and greatly reduce the restrictions on foreign investment," Xi told a gathering of U.S. and Chinese business executives in Seattle, which included Apple Inc. Chief Executive Tim Cook and Berkshire Hathaway's Warren Buffett.
According to the report, China has repeatedly vowed to loosen restrictions as well as improve inefficient state-owned firms and adopt market-friendly policies to stave off slowing growth.
On the other hand, U.S. investors would like to have a bilateral investment treaty that would give them greater access to state-dominated industries such as telecommunications and financial services.
Xi told the business group that a major part of China's reforms would be to reduce the scope of the current "negative list" on foreign investment, adding, "Our positive list will be bigger, a longer list. We will continue to build an open and law-based environment."
