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The Chinese economy is registering a stable performance with good momentum for growth, Xi said, pledging a series of major measures on further opening up and to press ahead with high-quality development.
Firstly, more will be done to open up the Chinese market wider, Xi said.
According to the president, China will soon release the 2019 edition of the negative list on foreign investment, with the focus on greater openness in agriculture, mining, manufacturing and services.
China will set up six new pilot free trade zones, open a new section of the Shanghai Pilot Free Trade Zone, and speed up exploration of building a free trade port in southern Hainan Province, he said.
Secondly, greater initiative will be demonstrated in expanding imports, Xi said.
China will further bring down its overall tariff level, strive to remove non-tariff trade barriers, and slash institutional costs in imports, he said, adding that China will make the second China International Import Expo a success.
Thirdly, more steps will be taken to improve the business environment, Xi said.
In the new legal framework for foreign investment that is to take effect on Jan. 1 next year, China will introduce a punitive compensation mechanism for intellectual property (IP) infringement cases and make the relevant civil and criminal laws more stringent to deliver better IP protection, Xi said.
Fourthly, equal treatment will be extended to all foreign investment, Xi said.
China will lift all foreign investment restrictions beyond the negative list, and provide equal treatment for all types of businesses registered in China in the post-establishment phase, Xi said.
A complaint mechanism will be set up for foreign companies to air their grievances, he said.
Fifthly, greater efforts will be made to advance trade talks, Xi said.
China will push for an early conclusion of the Regional Comprehensive Economic Partnership (RCEP) and accelerate the negotiations on a China-European Union investment agreement and the China-Japan-South Korea Free Trade Agreement, Xi said.
Stressing that China has full confidence in following its path and running its own affairs well, the Chinese president said China will work in the spirit of peaceful co-existence and win-win cooperation with all other countries to build a community with a shared future for mankind and to tirelessly pursue a brighter future of the global economy.
Leaders attending the summit discussed various topics including world economic situation, trade, investment, innovation and digital economy.
As the world economy is facing increasing risks and uncertainties, many leaders expressed their worries over serious hazards brought by unilateralism and protectionism, and agreed that all sides should strengthen communication and dialogue, maintain unity and cooperation, boost macro-policy coordination, advance structural reform, deepen cooperation in such fields as innovation, climate change, energy, education and environment, protect the multilateral trade system, and conduct necessary reforms of the WTO.
Many leaders also said at the summit that the G20 should jointly oppose protectionism, safeguard the space for development of emerging-market economies and developing countries, push for the reform of global governance system, realize strong, sustainable, balanced and inclusive global growth and high-quality development for all countries, so as to benefit peoples of all countries.
Before the summit, Xi attended a special event on digital economy and, at the invitation of Japanese Prime Minister Shinzo Abe, was the first to address the event.
Digital economy develops rapidly and is profoundly reshaping the world economy and human society, said Xi.
We should nurture a fair, just and non-discriminatory market environment, rather than developing behind closed doors and artificially interfering in the market, said Xi.
We should work together to improve data governance rules and make sure of safe and orderly use of data, he said.
We need to facilitate the integrated development of digital economy and real economy, strengthen digital infrastructure construction and promote connectivity, he said, adding that the inclusiveness of digital economy should be expanded to bridge the digital gap.
As a country strong in digital economy, China is willing to actively participate in international cooperation and maintain an open market to achieve win-win outcomes, Xi said.
The Chinese president arrived here Thursday for the G20 summit on Friday and Saturday at the invitation of Abe.
