XI promises market opening as import fair begins

Peter Eze发表于 2018-11-06 17:31:42
"It is our sincere commitment to open the Chinese market. We will cut costs for importers and improve consumer spending power to help boost imports" Said Xi


President of the People’s Republic of China, President Xi Jinping promised yesterday to open China's growing consumer market wider at a fair designed to help counter charges that Beijing abuses the global trading system.

The China International Import Expo, held at a Shanghai convention center, is part of efforts to develop China-centered trading networks while resisting pressure to roll back industry plans that Washington, Europe, Japan and other governments say violate its market-opening obligations.

``It is our sincere commitment to open the Chinese market,'' Xi said in a speech to a VIP audience that included high profile officials like Russian Prime Minister Dmitry Medvedev.

Xi promised to cut costs for importers and improve consumer spending power to help boost imports. He made no mention of the standoff with President Donald Trump over Chinese plans for state-led development of technology industries.

Some 3,600 companies from 152 countries selling everything from Egyptian dates to German factory machinery are attending the five-day event at the cavernous convention center that bills itself as one of the world's biggest buildings.

Prime ministers and other senior officials of governments including Egypt, Pakistan and Vietnam also were attending the fair.

Chinese government is emphasizing the promise of a growing consumer market of 1.4 billion people to help deflect the complaints that it subsidizes fledgling technology suppliers and shields them from competition.

Some business groups think China still hampers access to industries including finance and logistics. They say regulators are trying to squeeze foreign competitors out of promising fields such as information security.

Xi promised steps that might address such complaints if carried out, including easing restrictions on foreign competitors in finance, education, telecoms and health care. He gave no details or a timetable but said the ruling party already was carrying out changes promised over the past year.