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China will introduce more reform measures to open up its economy this year, according to Liu He, the top financial and economic adviser to President Xi Jinping. “Some measures will exceed the expectations of the international community,” Liu said Wednesday at the World Economic Forum’s annual meeting in Davos, Switzerland, without specifying what the new policies would be. “Opening up is not only important for China, but also for the whole world,” he said, adding, a fresh reform push was also a celebration of the 40th anniversary of the nation’s shift away from a closed Communist system. Further measures to encourage international investors and make the world’s second-largest economy more accessible are on the agenda for China at a time when the threat of a full-scale trade war with the US is rising.
As it battles pollution, poverty and financial risk, the economy needs all the growth drivers it can muster to offset the impact of those upgrades.