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DAVOS, Switzerland, Jan. 22-- The opening of China's market is likely to increase the competitiveness of the Chinese economy, which could serve as a future driver of global growth, experts attending the ongoing World Economic Forum (WEF) Annual Meeting said Tuesday. Attending a penal discussion titled "Rethinking Global Financial Risk," Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said that the Chinese economy may slow down in 2019 but "it won't be a collapse." "China's vision for the economy is to make it open, large and competitive. It will be a huge opportunity for all companies," Fang said, adding that declines in overheated sectors, such as real estate and infrastructure, could provide useful correctives for the market. Saying that opening up is good for China, Fang emphasized that over the last 40 years China has never had a significant financial crisis. "How has it managed that? We have a very top-down approach to financial risk management. If risks are accumulating the government will step in. There is a lesson that the rest of the world should look at," he said. Jin Keyu, professor of economics of the London School of Economics and Political Science, said only two years ago China was considered as a ticking financial bomb, and the slowdown is the consequence of the government's successful efforts to deleverage. "These efforts have made China safer, much of this is the deliberate effort of the government," she said. | 
