April10,2018:StephenP.Groff,vicepresidentoftheAsianDevelopmentBank,meetsthepressattheBoaoForumforAsia(BFA)AnnualConferenceinBoaoTown,inthesouthernChineseprovinceofHainan.byChenYe“Theideaoffurtheropeningup,aswasthefocusofPresidentXi’sspeech,isgreat,especiallyhiscommitmenttoopeningthefinancialsector,”remarkedStephenP.Groff,vicepresidentoftheAsianDevelopmentBank(ADB),onApril10whenheattendedtheBoaoForumforAsia(BFA)AnnualConference2018.“Itwillprovidealotofopportunities.Wewilldefinitelysupportit.”
EventhoughthiswastheseventhtimethatGroffhadattendedtheBFA,hewasparticularlyimpressedbyChinesePresidentXiJinping’skeynotespeechattheopeningceremonyofthisyear’sconference.XideclaredthatChinawouldacceleratetheopeningupoftheinsuranceindustry,easerestrictionsontheestablishmentofforeignfinancialinstitutionsinChina,expandtheirbusinessscopeandopenupmoreareasforcooperationbetweenChineseandforeignfinancialmarkets.
“TheareasPresidentXispecifiedthatChinawouldcontinueopeningupareexactlytherightareasthecountryneedstofocuson,”Groffexplained.“Hesettherighttoneanddeliveredtherightmessageatatimewhenalotofzero-sumrhetoricisemergingaroundtheworld.Opennessandcontinualreformarecriticalcomponentsoffutureglobalgrowthandcooperation.”
Groffbelievesthatfreeandopentraderegimeshavebeensignificantcontributorstounderpinglobaleconomicgrowthoverthelastfivetotenyears.“Anymovethatrestrictsorhampersfreetradewillmakeanegativeimpactonglobalgrowth.”
WhenaskedaboutChina’ssteptoimprovetheinvestmentenvironment,Groffresponded,“Itisallaboutensuringinvestorshaveequalopportunitiestoinvestinthecompetitiveenvironment.PresidentXiputalotofcardsonthetablewithregardtoenforcementofintellectualpropertyrights,judiciaryreformandanti-corruption.”
HenotedthatthemovestheChinesegovernmentplanstomakeare“verypositive”and“encouraging.”HeopinedthatwideraccesstotheChinesemarketisbeneficialforChinaaswellasfortheworld.
“Increasedcompetitioninthesesectorswillultimatelyresultinincreasedproduction,increasedinnovationandreducedcosts,”Groffnoted.“Theopening-upmeasuresgeneratewinwinprospects.TheyarepositivefortheworldeconomyaswellasforChineseconsumers.”
GroffbelievesthatthereformandopeningupisanimportantprocessnotonlyforthedevelopmentofChinabutalsoforAsiaasawhole.“InestablishingadevelopmentnarrativeforAsia,theexamplesetbyChinaiscruciallyimportant.”
ThisyearmarksthefifthanniversaryofthelaunchoftheBeltandRoadInitiative.“Financialintegrationisincrediblyimportantforstrengtheningtheresilienceofindividualcountries,”Groffadded.“Themorethesecountriesbecomeintegrated,thelessrisktheyabsorbfromeacheconomicshock.”HerevealedthattheADBisactivelylinkingsomesub-regionalprogramsinvolvedwiththeInitiative.
Asfordiscussionsofacommunitywithasharedfutureformankind,Groffsaid:“Thefutureofourworldishighlydependentoninternationalcooperation.Unilateralapproachesarenolongerappropriateintermsofaddressingchallengesfacingtheworldtoday.”
April16,2018:AwarehouseofJDGroup,aChinesee-commercegiant,intheNanshaAreaoftheChina(Guangdong)PilotFreeTradeZoneinGuangzhou,capitalofGuangdongProvince.Ithasbeenreportedthatinternationaltradeintheareahasrisenfromnearly130billionyuanin2014tomorethan195billionyuanin2017.byLiaoShupei/ChinaNewsService/VCG