CRI听力:President Xi: China Still Open to Foreign Investment

Xi Jinping says his government is expecting trade volume between China and countries involved in the "Belt and Road" initiative to surpass 2.5 trillion U.S. dollars a year in the next 10-years.

The Belt and Road Initiative is a land-based Silk Road Economic Belt and the sea-route into Southeast and Southern Asia.

To help finance the initiative, the Chinese government is backing both the Silk Road Fund and the Asian Infrastructure Investment Bank.

Xi Jinping has told potential investors in Boao his government's plan will help open China to more foreign capital.

"China will only increase its openness to the outside world. Our long-held policy of welcoming foreign capital will not change. Our firm stance to protect the legitimate rights and interests of foreign investors will not change. And our commitment to provide ever better service for foreign companies in China will not change."

Addressing foreign businesses concern over the "new normal," Xi Jinping is suggesting the slower pace of economic growth represents a new opportunity for more optimized investments.

He suggests this will include more opportunities for quality products, green technology and innovative business models for foreign investors.

The Chinese president has also taken time to assure investors China remains an open destination for foreign capital.

"Some people worry that China may not need foreign investment anymore, arguing that the country is seeing bigger outbound investment than foreign capital inflows. Others worry that China's anti-trust campaign is protecting domestic players by targeting foreign investors. These two perceptions are both misled and misleading."

China remained the top foreign direct investment destination last year, attracting nearly 120 billion US dollars of FDI.

Over 40 international as well as domestic business leaders were present at the conference.

For CRI, I am Qian Shanming.