China's continued commitment to opening-up welcomed by business communities: U.S ...

China's continued commitment to its opening-up policy is welcomed by business communities, a U.S. expert on China has said.

"I think clearly the United States and many other countries and business communities want to see China moving in the direction that is suggested by the President's comments," David Firestein, the inaugural executive director of China Public Policy Center of the University of Texas, Austin, told Xinhua.

The China expert and a U.S. diplomat from 1992 to 2010 was referring to the pledges made by Chinese President Xi Jinping to further open up China's economy including the financial sector and to protect intellectual property rights, among others, in a keynote speech at the just concluded annual Boao Forum for Asia conference held in China's southern island province of Hainan.

"If the American people, business workers, farmers and ranchers see China taking real actions of the type that President Xi has discussed, I think that will make a big difference and a positive difference in the way that those individuals and the administrations look at China," Firestein said.

This year marks the 40th anniversary of China's reform and opening up. Firestein said China's growth and other achievements made in the last four decades have been "one of the most profound global forces for economic growth in the world that we have seen."

He added that China has not only transformed into an economic power, but the economic relations between China and the world have also changed dramatically.

"Trade with China has changed the world economy for all the nations that engaged with China including the U.S., but not limited to U.S. It's an enormously important development," he said.