Chinese President Xi Jinping expressed its readiness to sign a high-standard free trade agreement with more countries to encourage access to trade and global economic growth, said in a speech opening the 2nd Belt and Road Forum for International Cooperation in Beijing, on Friday (April 26).
Xi stated, Belt and Road Initiative has opened a new space for global economic growth, while creating a new platform to increase international trade and investment, expand new practices to optimize global economic governance, and make new contributions to improve the welfare of the people of all countries.
Therefore, China will allow foreign investors to conduct business in more sectors with controlling or full shares. China will launch a number of new pilot free trade zones.
China also attaches great importance to the establishment of an obstacle mechanism for the fulfillment and implementation of international agreements, and the modification and improvement of laws and regulations in accordance with the need for further opening.
With that, China increases imports of goods and services on a larger scale and will further reduce its tariffs.
In addition, China does not adopt a currency devaluation, but will continue to improve the mechanism of the formation of its currency exchange rate, the Renminbi, and keep the exchange rate generally stable at a reasonable and balanced level.