BEIJING - When the Communist Party of China has something to say about economic reform and opening up, the world sits up and pays attention. Despite being on vacation when Chinese leader Xi Jinping delivered a report to the all-important 19th CPC National Congress, Daniel Liao watched every second live online.

"His words were a shot in the arm for foreign businesses like us," said Liao, head of China operations at a Singaporean real estate firm.

During a wide-ranging address, Xi unveiled the Party's ambitious goal to "develop China into a great modern socialist country that is prosperous, strong, democratic, culturally advanced, harmonious, and beautiful" by the mid-21st century.