April 11, 2018 -- Chinese President Xi Jinping delivers a keynote speech at the opening ceremony of the Boao Forum for Asia Annual Conference 2018 in Boao, south China's Hainan Province, April 10, 2018. (Xinhua/Li Xueren)
April 11, 2018 -- Chinese President Xi Jinping promised to further open up China to the world at the opening ceremony of the Boao Forum for Asia Annual Conference 2018 on Tuesday.
To further widen market access
Late last year, China announced that measures would be taken to raise foreign equity caps in the banking, securities and insurance industries.
China will accelerate the opening-up of the insurance industry, ease restrictions on the establishment of foreign financial institutions in China and expand their business scope, and open up more areas of cooperation between Chinese and foreign financial markets.
On manufacturing, China has basically opened up this sector with a small number of exceptions on automobiles, ships and aircraft. "Going forward, we will reduce as soon as possible limits on foreign investment in these industries, automobiles in particular," Xi said.