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MNI: China's Xi Praises Multilateralism and Vows Open Markets

MNI (Beijing)
     BEIJING (MNI) - The following lists key points of President Xi Jinping's
speech at the Boao forum on Tuesday:
     - Without directly addressing the trade spat with the U.S., Xi touted the
virtues of opening up while reviewing the achievements of China's 40-year
reform. Xi said China will continue to champion multilateralism while shunning
self-interestedness and hegemony, and pursue "Chinese-style" free trade. 
     - China will accelerate its joining of WTO's Government Procurement
Agreement. Without identifying the U.S., which has charged China with stealing
technologies, Xi called on developed countries to relax restriction on selling
advanced products to China.
     - China plans to re-establish a bureau of intellectual property (IP)
protection, helping enhance and increase the enforcement of regulations against
IP infringement. China will protect foreign companies' IPs in China and wants
other nations to reciprocate.
     - Without giving specific timeline, Xi said China will significantly lower
market barriers, relax restrictions on foreign ownerships in banking,
securities, insurance, manufacturing of auto, planes and ships, and accelerate
the opening up of the insurance sector; China will reduce limitations on
operations of foreign financial institutions and allow them to expand in China.
     - China will work Xi's 5-year-old One Belt, One Road initiative into the
"widest global platform of cooperation" and integration, Xi said. 
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com
--MNI Beijing Bureau; +86-10-8532-5998; email: beijing@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MI$$$$,MT$$$$]
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China Market NewsPolicy NewsBellAPACChinaJapanAustraliaNew ZealandRegion
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