China's Xi says will remove foreign investment access restrictions in manufacturing sector

<p>Chinese Communist Party Xi speaking at the Belt and Road forum: </p><ul><li>belt and road cooperation has progressed from
sketching the outline into filling in the details, blueprints turned
into real projects</li><li>This network has
boosted the flow of goods, capital, technology and human resources
into countries involved</li><li>Only when the world
is good, China will be good; and only when China is good, the world
will be good</li><li>Taking economic
interdependence as a risk will not make one's own life better or
speed up one's own development</li><li>Ideological
confrontation, geopolitical rivalry and bloc politics are not a
choice for us; what we stand against are unilateral sanctions,
economic coercion, decoupling and supply chain disruption</li><li>Chinese
modernisation is not for China alone but for all developing countries
through our joint efforts</li><li>China will build new
logistic corridor across European continent linked by railway
transportation</li><li>China will enter
into free trade agreements with more countries, remove all
restrictions on foreign investment access in manufacturing sector</li><li>China will deepen
reform in state-owned enterprises, digital economy, intellectual
property, government procurement</li></ul><ul><li>
In 2024-2028, China's total trade in goods and services is expected
to exceed $32 trln and $5 trln respectively</li><li>China Development Bank and Exim Bank of China will each set up a 350 bln yuan financing
window to support belt and road projects</li><li>We will step up
joint efforts to ensure safety of belt and road projects and
personnels</li><li>China will deepen
cooperation in green infrastructure, green energy and green
transportation</li><li>China will increase
number of joint laboratories to 100 in next five years, support young
foreign scientists to work in China</li><li>China will put forward global
initiative for artificial intelligence governance</li><li>China to establish
compliance system for companies involved in Belt and Road, promote
integrity in BRI cooperation</li><li>We will build open,
inclusive and interconnected world for common development</li></ul><p>Xi making big promises. His Politburo have made decisions that have hindered China's economic growth and innovation, so while he speaks big its yet to be seen how open he is to economic reform. </p><p>Xi's main focus has been on building relationships with Axis members such as Russia, North Korea, Iran. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.