Xi pledges to open China’s markets wider to an impatient world

Xi pledges to open China’s markets wider to an impatient world

Xi pledges to open China’s markets wider to an impatient world

The expo is not only an open worldwide cooperation platform built by China for presenting national development achievements to all other countries in the world and conducting foreign trade, China's Ministry of Commerce says.

Xi has said the expo proves China is willing to reduce its huge trade surpluses with other countries.

The Nov. 5-10 China International Import Expo, or CIIE, brings thousands of foreign companies together with Chinese buyers in a bid to demonstrate the importing potential of the world's second biggest economy even as China remains embroiled in a trade row with the United States.

Ma, whose online commerce empire is China's largest corporation, has been a vocal opponent of tit-for-tat tariffs imposed on hundreds of billions of dollars' worth of U.S.

The promises made by Chinese President Xi Jinping on Monday to open China's economy to the outside world have failed to convince a long-time critic that the nation is ready to engage in global trade on an equal footing.

"The attack are dictated by increasing factors of instability and numerous uncertainty, and risks and obstacles".

He said that China's clear focus on importing more beneficiated and industrialized goods and services matches exactly Africa's current internal development and growth trajectories.

China imported $1.84 trillion of goods in 2017, up 16 percent, or $255 billion, from a year earlier. But US President Donald Trump has also repeatedly complained about his country's $375 billion deficit in the trade of goods with China.

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"China's economy is truly performing well within the reasonable range, giving us a solid foundation for delivering the development goals for the whole year", Xi said.

Expectations had been low that Xi would announce bold new policies of the kind that many foreign governments and businesses have been seeking from Beijing.

Kenyan President Uhuru Kenyatta voiced impatience when he told the opening ceremony that his country's growing trade with China was heavily skewed in Beijing's favour.

The European Union shares US concerns over China's trade practices if not Trump's tariff strategy to address them. Its VIP guest list includes prime ministers and other leaders from Russia, Pakistan and Vietnam.

The Swiss government said in a statement on Sunday that his visit had never been confirmed.

Some Western diplomats and businesses have been quietly critical of the expo, arguing it is window dressing to what they see as Beijing's long-standing trade abuses.

Since then, officials of the two countries held several rounds of talks for India to export its agricultural products like sugar and rice as well as its pharmaceuticals and IT in which the country has an upper hand in the global exports.

Chad would be selling its bauxite and tiny São Tomé would sell package holidays.

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