Xi's Boao speech receives warm applause

LinkedIn co-founder sees investment opportunities in China

President Xi Jinping has identified a full set of arrangements to make the world economy work and build a prosperous society in China, according to Allen Blue, co-founder of US professional networking site LinkedIn.

"In his speech, President Xi's emphasis on mutual respect is a foundation for future openness and innovation, and is vital to building any kinds of relationships," Blue said.

Opening opportunities for more foreign investment and loosening restrictions in areas like financial services are both fundamental components of investment-related business, he said.

"And the specific measures on intellectual property rights protection are set to make large-scale investments valuable here in China," Blue added.

Reducing certain barriers for certain industries can increase competition and bring more goods and services into the Chinese economy, which would, in turn, help achieve the goal of building a moderately prosperous society in China, he said.

"The President has clearly understood the pieces that are needed (to reach that goal) and he's making strong movements to actually put these pieces into place," Blue said.