Xi meets entrepreneurs, promising more opportunities in China

BOAO, Hainan, March 29 -- 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 U.S. dollars 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.