(Photo: IC)

President Xi Jinping delivered a speech at the Boao Forum for Asia explaining China's policies and plans for further reform and opening up. Xi's speech was internationally acclaimed. US President Donald Trump even gave positive feedback on the speech. 

Further opening up is a solid plan

A commentator for China Central Television (CCTV) says policies and plans announced by President Xi are significant measures that are a step forward by China towards further opening up according to its own principles. 

Like President Xi said in his speech, since the reform and opening up policy started 40 years ago, Chinese people have adhered to their open door policy, and worked hard to develop it. We have made the transition from a closed or semi-closed society to one that is wide open. Meanwhile, China has become a stabilizer and engine for global economic growth, and made its own contributions to peace and the development of humankind. 

Complacency gets us nowhere

Yi Gang, head of the People's Bank of China, announced detailed policies and a timetable for further opening up in China's financial sector. The commentator says this shows that China is true to its word. If the United States insists on a trade war, it will lose opportunities for further cooperation with China, as well as the chance to benefit from China's development. 

China would like to see positive signs from the United States, but will watch and wait for their next steps. China calls on the United States to understand the situation: Unilateralism and the use of coercion in trade is unacceptable. Joint development is the trend in today's world and it requires multilateral trade. The fight against unilateralism should be based on mutual benefit. Only then can both sides achieve a win-win result.