Xi's Boao speech receives warm applause

CEO looking forward to reform measures

President Xi Jinping has set a "clear direction" through a suite of "landmark measures" to further accelerate the opening of China and fulfill its responsibility as a global leader, said Denis Depoux, China CEO of global consultancy Roland Berger.

"The President not only pledged reform…h(huán)e also highlighted several key measures regarding the Chinese market, and we want them to be implemented sooner than later," Depoux said.

In a speech Depoux deemed "serene, holistic, determined and audacious", Xi proposed broader and easier access to a number of industries to foreign players, from auto to finance, all of which are set to chart a new development path forward for China.

"While these announcements sound like a response to the current trade tension (with the United States), with this pledge to accelerate the opening of the Chinese market, the President avoided any escalation rhetoric with US President Donald Trump on trade issues," he said.