Citywire - For Professional Investors

Register to get unlimited access to all of Citywire’s fund manager database. Registration is free and only takes a minute.

Xi discusses Chinese economy, markets

Xi discusses Chinese economy, markets

This week China held its 19th Party Congress in Beijing and President Xi Jinping outlined his five-year vision for the country, and discussed issues in the economy, markets, foreign investment and innovation, among other things.

Xi said China’s economy has maintained a medium to high growth rate so far. Going forward, the country will aim for higher quality and efficiency, and fairer and sustainable economic growth.

In addition, China will also continue to deepen supply-side reform and reduce overcapacity in the heavy industries. Over the past five years, China’s GDP rose from 54 trillion to 80 trillion yuan ($12.1 trillion).

Addressing issues in the markets and foreign investment, Xi said, ‘China will improve the regulation framework underpinned by monetary policy and macro-prudential policy, and deepen market reforms of interest rates and exchange rates.

‘China will uphold the national policy of opening up to the outside world and such policy will not change. The door China opened will become wider and wider.’

He added that the country will continue to pursue the One Belt and One Road Initiative, while focusing on Chinese companies going global and attracting foreign investment.

China will also relax market access for foreign investment, expand access to its services sector, and protect the legitimate rights and interests of foreign investors. In January and August, the State Council introduced measures to attract more foreign capital.

Xi is aiming for China to be a top ranked innovative nation by 2035, and a country with pioneering global influence by 2050.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Events
  • Citywire Asia Taipei Retreat - Day 2 images

    Citywire Asia Taipei Retreat - Day 2 images

  • Citywire Asia Retreat in Bangkok: images from day one

    Citywire Asia Retreat in Bangkok: images from day one

  • Citywire Asia Retreat in Bangkok: images from day two

    Citywire Asia Retreat in Bangkok: images from day two

  • Images from Citywire Thailand Forum 2017

    Images from Citywire Thailand Forum 2017

  • Citywire Asia Awards 2017: images from Singapore

    Citywire Asia Awards 2017: images from Singapore

  • Citywire Asia Awards 2017: images from Hong Kong

    Citywire Asia Awards 2017: images from Hong Kong

  • Citywire Asia Retreat in Bangkok: day two images

    Citywire Asia Retreat in Bangkok: day two images

  • Citywire Asia Taipei Retreat – Day 1 images

    Citywire Asia Taipei Retreat – Day 1 images

  • Pictures from Citywire's Hong Kong forum

    Pictures from Citywire's Hong Kong forum

  • Images from our Citywire Singapore Forum

    Images from our Citywire Singapore Forum