With initiatives rolled out, China promises more opportunities

BOAO -- President Xi Jinping on Sunday said he hoped foreign entrepreneurs would boost contact and cooperation with China for win-win results.

The Silk Road Economic Belt and the 21st Maritime Silk Road initiative, proposed by China, will create opportunities for trade and investment between China and countries along the routes, said Xi at a symposium with some 40 domestic and foreign entrepreneurs on the sidelines of the 2015 Boao Forum for Asia (BFA) conference.

"We hope the annual trade volume between China and these countries will surpass $2.5 trillion in a decade or so," he told board chairmen and CEOs from countries including Saudi Arabia, Australia, the United States, Thailand, Russia, and the Republic of Korea.

The "new normal" of the economy and China-led initiatives, such as the Silk Road Fund and the Asian Infrastructure Investment Bank (AIIB), will create new opportunities, said Xi.

China will be more open to the outside world, Xi said, adding that policies that encourage foreign investment will not change, the rights of foreign-funded enterprises will be protected and better services will be provided.

Deeply integrated with the global economy, the Chinese economy is an important driving force for Asia and the world, Xi said, adding that efficiency and quality were improving alongside positive structural adjustments.

More opportunities in China 

"The interaction between China and the rest of the world is becoming increasingly closer," and opportunities in the domestic market, investment, green growth and foreign cooperation are expanding, said Xi.

China has a rather long period of development and growth ahead with huge domestic demand, said Xi.

There is much space for domestic consumption to be explored and good prospects are expected for enterprises that provide safe, quality products and services, he told the executives.

"New opportunities are emerging for investment in infrastructure facilities, new technology, products, industry and business models," said Xi.

China will adopt a green development path, promote energy saving and environmental friendly production, said Xi.

"We are pushing forward an energy production and consumption revolution, improving energy structure and will implement an energy saving first principle," said Xi.

China has more opportunities in international cooperation, he said.

The country supports multilateral trading mechanisms and is devoted to the Doha round talks, and advocates the Asia-Pacific free trade zone by pushing negotiations on the Regional Comprehensive Economic Partnership (RCEP), said Xi.

"China pushes economic and financial cooperation at all levels and is an active promoter of economic globalization and regional integration," said Xi.

Lee Jae-yong, vice chairman of Samsung Electronics, said China's investment environment had been further improved with government reform measures.

Lee said government officials are more diligent and China is becoming one of the most competitive countries.

Andrew Forrest, chairman of Fortescue Metals Group, said China is becoming a major mechanical equipment supplier of his company, which will further explore the Chinese market.

The aviation sector also needs to be expanded as a bridge for the countries along the Belt and Road routes, said Chen Feng, board chairman of China's Hainan Airlines Group.??

Peaceful development

Xi also met board of directors of the BFA on Sunday.

Hailing BFA's growing influence since its establishment in 2001, Xi said the forum has played a unique role in gathering consensus and promoting the development and influence of Asia.

Xi reiterated China's peaceful development path and commitment to promote a new type of international relations featuring cooperation and win-win results as well as the principle of forging partnerships rather than alliances.

China will continue to forge friendly ties with neighboring countries and hopes to gain more impetus for development through cooperation with the world, Xi said.

Chairman of the BFA Yasuo Fukuda said Xi's keynote speech at Saturday's opening of the BFA conference unveiled a blueprint for solidarity, peace and development in Asia.

Xi called for a community of common destiny for Asian future in his speech.

Board members including former French prime minister Jean-Pierre Raffarin and former Malaysian prime minister Abdullah Ahmad Badawi also voiced their support of the community of common destiny for Asia, as well as the Belt and Road initiatives.