Among the eight major steps China announced at the Third Belt and Road Forum for International Cooperation to support high-quality Belt and Road cooperation, the cancelation of all restrictions on foreign investment access in the manufacturing sector is the most striking measure, or at least one of the most eye-catching.
The measure is a testament to China’s ongoing commitment to opening up and a major step forward for China in key areas of its development, namely, entering a new stage of fostering internationally competitive manufacturing within an open environment; responding to attempts to decouple from China; and assuming a role as a global flagbearer for
