Chinese leader Xi Jinping warns against "Cold War mentality" as he vows to open up parts of the country's economy.
Speaking at the Boao Forum for Asia - often referred to as Asia's Davos - on Thursday, his speech appears to be an attempt to calm a trade row with the US.
Moreover, Xi pledged to cut import tariffs on cars and relax requirements for foreign firms investing in China.
However, certain specifics on when the changes are expected to happen were not specified.
Xi made no specific references to the ongoing spat with the Washington, wherein both sides announce tit-for-tat plans to slap tariffs on imports to one another.
But in light of US President Donald Trump's America First move, Xi called for openness.
"Human society is facing a major choice to open or close, to go forward or backward," Xi said to the audience made up mainly of Chinese and international investors.
"In today's world, the trend of peace and cooperation is moving forward and a Cold War mentality and zero-sum game thinking are outdated."
"Paying attention only to one's own community without thinking of others can only lead into a wall. And we can only achieve win-win results by insisting on peaceful development and working together," he adds.
Fears of a trade war
Recently, President Trump's "plan" to hit hundreds of Chinese products with duties have fueled fears of a trade war; however, people have yet to react to it.
Washington claims that China has failed to fulfill its earlier promises to open up its economy - including putting up barriers to international companies accessing markets and forcing investors to form joint ventures and hand over intellectual property.
Following the news in the past few days, there are a lot of issue that needs explaining, especially the "tariffs" and supposed "cold war" between China and the US.
