​Attendees praise President Xi's speech delivered at Boao Forum

Chinese President Xi Jinping (C) and his wife Peng Liyuan (7th R) pose for a group photo with foreign guests attending the Boao Forum for Asia Annual Conference 2018 in Boao, south China's Hainan Province, April 10, 2018.[Photo: Xinhua]

Chinese President Xi Jinping has pledged to expand opening-up and promote global prosperity in a keynote speech at this year's Boao Forum for Asia annual conference, winning praise from world leaders in attendance.

International Monetary Fund Managing Director Christine Lagarde says the speech demonstrates China commits itself to further opening up.

"I congratulate you, President Xi, for this new life that you have identified, for the openness that you have celebrated and advocated, for the innovation and inclusiveness that you have encouraged. And you have not only been saying that in general terms, you've been very specific, opening sectors: banking, insurance, automotive, removing caps, reducing barriers, providing a more business friendly environment. You've advocated openness."

This year marks the 40th anniversary of China's reform and opening-up.

Stats show the country has grown into the world's second largest economy, the largest industrial producer, and the largest trader of goods.

More than 30 percent of global economic growth can be attributed to China.

According to the current UN standards, more than 700 million Chinese people have been lifted out of poverty.

President Xi referred to the four decades of reform and opening-up as China's second revolution, which has not only profoundly changed the country but also greatly influenced the whole world.

Speaking of the economic globalization, President Xi announced three major measures to expand opening-up, to significantly broaden its market access, strengthen protection of intellectual property rights and take initiative to expand imports.

Former Philippines President Gloria Arroyo says she's very interested in the Chinese domestic market.

"I was very impressed by the new programs that he [Chinese President Xi Jinping] is planning for the new era. They were very specific, and very practical, and programs that we from the Philippines can relate to. For instance, the idea of importing more, and we are very interested in the domestic market of China, and we are looking forward to the import fair that will be held in Shanghai this year as the president has said."

Zhu Min, dean of the National Institute of Finance at Tsinghua University, says the measure on the protection of intellectual property rights has showed China's determination in creating an open market environment.

"This time President Xi placed special emphasis on the protection of intellectual property rights, and the protection of technological cooperation and exchanges between Chinese and foreign enterprises. It's very important because now, the problem is not market access, nor preferential policies, but the market environment. It has answered a question that whether China can create an open market environment to embrace the gobalization and openness."

The four-day annual meeting, which opened in Boao in Hainan province, is themed "An Open and Innovative Asia for a World of Greater Prosperity."