Xi's speech to CIIE inspires confidence

Global multinationals encouraged by remarks about broader access, new opportunities

President Xi Jinping's speech to the fifth China International Import Expo embodies China's unswerving pursuit of high-standard opening-up and its efforts to facilitate world trade and drive global innovation, according to multinational business executives.

This has deepened investment confidence and pointed to thriving business opportunities, they said.

Xi emphasized that the CIIE's purpose is to expand China's opening-up and turn the country's vast market into enormous opportunities for the world.

Bruno Chevot, president of French food and beverage company Danone for China, North Asia and Oceania, said that Xi's remarks sent a clear signal that China will continue to open its door wider to foreign companies and that the country is taking concrete steps to broaden market access.

"It is very important because it's really helping us to build our future strategic plan and make sure that we create the condition to contribute to the Chinese market and further strengthen our commitment to long-term development in the country," Chevot said.

Speaking via video link at the opening ceremony of the expo on Friday, Xi reaffirmed China's pledge to enable various nations to share opportunities in its vast market. He also highlighted the need to remain committed to openness to meet development challenges, foster synergy for cooperation, build innovation momentum and deliver benefits to all.

"We should steadily advance economic globalization, enhance every country's dynamism of growth, and provide all nations with greater and fairer access to the fruits of development," Xi said.

Zheng Dazhi, president of Bosch Thermotechnology Asia-Pacific, a German industrial group, said that the company is inspired by the remarks about creating new opportunities for the world through China's own development.

"It is encouraging because we also believe that an open, market-oriented business environment is good for all the players. With such vision, we are unwaveringly committed to China and will continue to increase local investments, in order to enhance local production and research and development capabilities here," Zheng said.

The pledge to promote cooperation on innovation gave extra confidence to United States-based luxury company Tapestry.

"The country is not only one of our most important markets worldwide, but also a source of inspiration for breakthroughs and innovations," said Yann Bozec, president of Tapestry Asia-Pacific. "The remarks give us stronger confidence and strengthen Tapestry's determination to increase investments in the Chinese market."

In the speech, Xi also announced plans to establish pilot zones for Silk Road e-commerce cooperation and build national demonstration zones for innovative development of trade in services.

Eddy Chan, senior vice-president of logistics company FedEx Express and president of FedEx China, said that the company is "particularly thrilled "about the mention of developing a new mechanism for trade in services.

"It will encourage innovation in trade, promote high-quality Belt and Road cooperation and bring more opportunities for small and medium-sized enterprises in both China and other parts of the world," he said.

Zhou Zhicheng, a researcher at the China Federation of Logistics and Purchasing in Beijing, noted that as cross-border e-commerce plays a key role in China's economic revival, the country has introduced a series of favorable policies to provide new impetus to exports and domestic consumption.

"Domestic as well as global companies in the transportation sector have leveraged their global logistics network to promote the e-commerce trade flow between China and the world," he said.