Xi stated that China will continue to open its market to the world and actively participate in the global economy in order to create win-win partnerships. (Photo : www.chinalawandpolicy.com)
Addressing an audience of several hundred business leaders in London, President Xi Jinping declared that China will continue experiencing sustained growth in the years to come, according to a report by China Daily.
Furthermore, Xi stated that China will continue to open its market to the world and actively participate in the global economy in order to create win-win partnerships.
In the next five years, China is expected to import more than $10 trillion worth of goods and acquire overseas investment amounting to approximately $500 billion. In addition, more Chinese tourists are expected to travel abroad, presenting numerous business opportunities.
"China will not close the door it has opened. We are working to build a new system of an open economy and we will make renewed effort to make an open world economy," said Xi.
President Xi also mentioned that the country's economy experienced rapid growth in the past three decades, which means that it will continue with its current strategy of open markets. The reforms initiated in the '70s was crucial in encouraging economic investment, financial reform and global participation in economic governance.
With the upcoming G20 summit to be hosted in China next year, it will provide a platform for the latter to contribute to world economic recovery.
"The Chinese economy will maintain its strong momentum and unlock even greater potential for development," Xi affirmed. "There will be no hard landing and we will stay committed to the win-win strategy of opening up."
Xi also shared his outline for the "One Belt, One Road" Initiative, which he plans will initiate the creation of better infrastructure and connectivity, which in turn will bring about economic growth.
The Chinese president's speech garnered positive reactions from British business leaders present at the U.K-China Business Summit.
