Opening-up to 'benefit UK, the world'

China's deepening reform and ongoing opening-up is set to generate new opportunities for the shared development of China and the United Kingdom, and for the wider world, China's ambassador to the UK said on Tuesday.

Addressing British and Chinese representatives from business and media enterprises at a convention in Bloomberg's European headquarters, Liu Xiaoming reaffirmed China's commitment to further open up its economy to foreign investors, and to ease restrictions on entities doing business with China.

Underlining the pivotal role of China's reform and opening-up policy, which was adopted 40 years ago, Liu said the policy has enabled China to embrace the rest of the world with open arms. GDP has rocketed, from $175 billion in 1977 to $12 trillion in 2017, registering a 68-fold increase at an average annual growth rate of 9.5 percent.