September 17, 2015 / 2:13 PM / 4 years ago

China issues lengthy policy document on economic opening

BEIJING (Reuters) - China’s ruling Communist Party and the cabinet, or State Council, issued a lengthy document late on Thursday that largely summarised its policy stances while emphasising its commitment to opening up the economy.

In an unusual late-night move, the top governing bodies issued the 50-clause statement through Xinhua news agency and the central government website. It touches on everything from regulation of foreign investments to free trade zones and the country’s policy encouraging companies to “go out”.

“Our country’s reform and opening stands at a new starting point, the deep adjustment of the economic structure, comprehensive promotion of reform and economic development has entered a new normal,” the preamble to the document said.

The emphasis on opening up the economy comes as many foreign and domestic observers question whether China’s economic reforms are beginning to go awry. The world’s second-largest economy is heading for its slowest growth in 25 years this year while a massive stock market rout has stoked further uncertainty.

The joint statement, which was earlier read aloud during the state broadcaster’s nightly news programme, also urges individuals and organizations to adhere to guidelines on the further opening up of the economy.

They reiterated that China seeks balance in domestic and external demand, trade, attracting foreign investment and investing overseas. China will continue to seek a gradual balance in international payments, according to the broadcast.

Reporting by Jake Spring; Additional reporting by Judy Hua and Winni Zhou; Editing by Catherine Evans

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below