China’s Xi Jinping hails his free-trade zone policy as a milestone in country’s reform
- Leader’s endorsement of FTZ policy delivered at high-level forum to mark fifth anniversary of Shanghai free-trade zone
- Xi reassures the nation of Beijing’s commitment to opening up amid an ongoing trade war
Chinese President Xi Jinping reassured the nation of Beijing’s commitment to reform and opening up amid an escalating trade war with the United States, as he wrapped up his highly anticipated visit to Guangdong province on Wednesday.
Xi hailed his government’s free-trade zone (FTZ) policy as a “milestone” for a “new era” of reform in a message to a high-level forum marking the fifth anniversary of the opening of the country’s first FTZ in Shanghai.
Ahead of his tour of southern China, there had been hopes that the trip – held 40 years after the country embarked on its economic reforms – might provide some indication of new efforts to liberalise the economy and support an ailing private sector.
But while Xi visited two parts of the Guangdong free-trade zone – Hengqin in Zhuhai and Qianhai in Shenzhen, official reports provided no such news.
In contrast, at the Shanghai forum, which was attended by members of the party’s Politburo and featured heavily on the main evening news reports, Xi gave a glowing endorsement of the policy in absentia.
“The development of FTZs is a strategic move by the party’s central leadership to advance reform and opening up in the new era,” he was quoted as saying.
