Xi unveils moves to support an open world economy

BEIJING - China will support an open world economy, with its total trade in goods and services expected to exceed $32 trillion and $5 trillion respectively in the 2024-2028 period, Chinese President Xi Jinping said Wednesday.

China will establish pilot zones for Silk Road e-commerce cooperation, and enter into free trade agreements and investment protection treaties with more countries, Xi said when delivering a keynote speech at the opening ceremony of the third Belt and Road Forum for International Cooperation in Beijing.

The country will remove all restrictions on foreign investment access in the manufacturing sector, he said.

Efforts will be made to further advance high-standard opening up in cross-border service trade and investment, expand market access for digital and other products, and deepen reform in areas including the state-owned enterprises, digital economy, intellectual property and government procurement, the president noted.

China will hold the Global Digital Trade Expo annually, he said.