BOAO, Hainan (China): Amid concerns about its slowing economy and unstable business environment, China has assured foreign investors of legal protection and underlined that China’s market environment will be fairer and more attractive.
In a round-table discussion with over top corporate honchos at the Boao Forum, Asia’s equivalent to the Davos show, China’s President Xi Jinping addressed a gamut of concerns and underlined the new leadership’s commitment to economic reforms and keeping China open for business.
“We are protecting the legitimate rights of foreign enterprises according to law,” said Xi, also General Secretary of the Communist Party of China, said, according to state news agency Xinhua.
Promising a level playing field for foreign investors, Xi, who took charge of the world’s second largest economy weeks ago, assured that the new dispensation will work to bolster the country’s legal system. “China’s market environment will be fairer and more attractive,” he said at Boao, located in the Hainan island in southern China April 9.
Kindling expectations of a more proactive economic leadership, Xi underlined that China will “expand, deepen and widen” its economy, firmly oppose protectionism in any form and solve economic and trade differences with other countries through consultation.
Xi, widely seen as a reform-minded leader, added that China has fulfilled its promises to the World Trade Organization over the past 10 years by making its business environment more open. “We are protecting the legitimate rights of foreign enterprises according to law,” he stressed.
“We will continue to enhance the legal system and improve investment environment so that all enterprises can enjoy equal access to production, market competition and legal protection.”
“I will endeavor to build a more favorable environment for investors,” he told corporate leaders amid concerns in the US and the West about China’s slowing economy, cyber-attacks and alleged disregard for intellectual property rights.
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