China’s Xi promises open markets and billions in new investments for ‘Belt and Road’ projects

Chinese President Xi Jinping has promised foreign companies greater access to China’s market and more than $100 billion in new financing for developing economies as part of his Belt and Road infrastructure initiative. Xi also pledged to remove restrictions on foreign investment access in the manufacturing sector and open up cross-border trade and investment in services. The promises come as China’s economy has slowed and foreign investment has declined.