Xi pledged to continue liberalizing the economy and boosting private companies, while also strengthening state-owned enterprises. China's President Xi Jinping arrives for a celebration marking the 40th anniversary of China's Reform and Opening at the Great Hall of the People in Beijing on December 18. Xi's speech will have "disappointed" both international and local investors, said Tom Rafferty, a China expert at the Economist Intelligence Unit. But Rafferty said there were indications Xi was preparing his domestic audience for tougher times ahead in the coming year. "China cannot develop itself in isolation of the world but the world also needs China for global prosperity," Xi said.

Source: CNN December 18, 2018 06:57 UTC