China's top legislator Zhao Leji said his country will persist in its opening up and push for high-quality, innovative and green development.
He is the latest Chinese leader in the past week to have struck such encouraging tones as foreign direct investment in China fell to a 30-year low in 2023 amid geopolitical tensions and a tougher regulatory environment in the world’s second-largest economy. Speaking at a panel discussion, Mr Steven Alan Barnett, the International Monetary Fund’s senior resident representative in China, said that strong, sustainable growth in the country is good for China and for the world economy.
Asked by The Straits Times how foreign investors would read Mr Zhao’s renewed call for economic development, Mr Benjamin Simpfendorfer, partner at management consulting firm Oliver Wyman, said they are more optimistic than they were a year ago. Recent tensions over the South China Sea were another hot topic at the Boao forum on March 28. Panellists from China, Indonesia, Vietnam and the United States largely agreed that the current situation posed a serious risk to regional stability.
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