News ID: 214981
Published: 0656 GMT May 13, 2018

China's further reform, opening up to better serve global growth, free trade

China's further reform, opening up  to better serve global growth, free trade

Four decades after its reform and opening-up, populous China retains its allure as a huge, growing market and an investment destination while becoming a big source of investment.

These are expected to enable the world's second largest economy to remain a power engine of global growth as well as contribute more to globalization and free trade, by creating new growth points and business opportunities, Xinhua reported.

Such an outlook has found support in China's economic and trade data in the first quarter, on top of its steps this year to broaden market access in efforts to further open up in a shift towards a high-quality growth.

Increased investors' confidence indicates more of the impact of China's further reform and opening-up.

The investors' confidence in China's economic performance was recently showcased by the JP Morgan Chase's China summit held in Beijing on May 8-9, which was attended by 2,200 investors and corporate executives from 50 countries and regions.

"Investors from around the world are moving to add investment here in preparation for opportunities to emerge in the future," said Jing Ulrich, managing director and vice chair of Asia Pacific of the New York-based bank.

For example, an investment facilitation policy adopted in late April in China's financial sector, which licenses foreign investors to set up securities trading firms with holding status, has triggered swift market reactions.

JP Morgan Broking (Hong Kong) Limited has made such an application, planning to hold 51 percent of the stakes. Japan's largest securities trader Nomura has released a plan to set up a holding firm in China.

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