MNI POLICY: China Vows Wider Open-up after Key Party Meeting

     BEIJING (MNI) - China will further open up its markets and improve rights

protection for private and foreign companies despite trade conflicts, Han

Wenxiu, a deputy director of the Office of the Central Commission for Financial

and Economic Affairs, said at a conference Friday following the conclusion of

the Fourth Plenary Session of the 19th Central Committee of the Communist Party

of China yesterday. 

     Here are the key takeaways from economy-related comments by Han, who sat

with five other officials in charge of separate portfolios:

     - China will positively boost the development of the Belt & Road Initiative

and diversify external markets to manage a changing global environment, said Han

when asked about the difficult China-U.S relationship.

     - China will continue to open up its markets, relax access restrictions,

facilitate foreign investment and enhance the role of pilot free trade zones and

free ports

     - China will enforce the Foreign Investment Law effectively to promote fair

competition among Chinese and foreign companies and enhance protection of

intellectual property and commercial secrets.

     - China will deepen the reform of state-own companies, mainly in sectors

crucial to national security and economic lifelines. Regulators will strengthen

the scrutiny over fair competition among SOEs, private and foreign companies.

     - China will expand the middle class by improve income redistribution.

--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com

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