Why It Matters

Questions over Chinese President Xi Jinping's promise

Chinese President Xi Jinping's pledge to open up China further to trade and investment amid fears of a trade war with the United States has cooled tensions and given rise to some optimism that a trade war might be averted. It also gave hope that China might be levelling the playing field for foreign firms to compete with Chinese ones.

Following Mr Xi's speech on Tuesday at the Boao Forum for Asia, Chinese central bank governor Yi Gang expanded on the opening up of the financial sector the next day. He said restrictions on foreign insurers and foreign ownership of securities would be loosened by the end of June, among other things.

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A version of this article appeared in the print edition of The Straits Times on April 13, 2018, with the headline 'Questions over Xi's promise'. Print Edition | Subscribe