Xi: China will keep opening its economy

Xi: China will keep opening its economy

China is on the verge of deepening economic as well as financial reforms and further opening its markets to foreign investors in an attempt to move from high-speed to high-quality surge, President Xi Jinping stressed on Wednesday.

China is going to push ahead with ambitious market-oriented reforms of its foreign exchange rate and also its financial system. The Asian country intends to let the market play a crucial role in the allocation of resources, as Xi told at the opening of a twice-a-decade Communist Party Congress.

The Chinese government is about to clean up practices and rules, which hinder a unified market as well as fair competition, back development of private firms and also stimulate vitality of any market entities, as Xi told, while promising to further open the country’s services sector to foreign investors.

Xi's comments repeated a long-standing promise by party leaders to delegate a greater role to free-market forces for the purpose of improving efficiency and putting the country’s economy on a more sustainable surge path.

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