BEIJING—Instead of focusing solely on his signature investment initiative, Chinese President Xi Jinping spent a good portion of a speech at the Friday opening ceremony of China’s Belt and Road forum discussing his plan for national economic reforms.
Much of that discussion focused on issues at the heart of the ongoing trade war between Washington and Beijing. Notably, Xi said his country will increase intellectual property protection and “stop arbitrary technology transfer,” two of the main sticking points of the trade dispute with the U.S., China’s largest trade partner.
“We will more effectively engage in international macroeconomic policy coordination,” Xi said, according to an official English translation of his Mandarin Chinese remarks. “A globalized economy calls for global governance. China will strengthen macro policy coordination with major economies to generate a positive spillover.”
While the Chinese leader emphasized the country would not use currency devaluation for national gain, he divulged few details about planned economic initiatives.