China's Xi promises market opening as import fair begins

China's Xi promises market opening as import fair begins

China's Xi promises market opening as import fair begins

During the coming six days, Shanghai will teem with business and show the world that the trail-blazing expo is not a mere gesture.

The chamber said expectations for Xi´s speech opening the China International Import Expo had been "continuously stoked" by the Chinese government.

He said openness has become trademark of China.

"The CIIE will provide a platform for increasing India's exports to China". Xi denounced the "law of the jungle" and "beggar-thy-neighbor" trade policies, the publication reported.

Xi gave a 30-minute speech in front of government officials and business leaders from overseas on the eve of United States midterm elections on Tuesday, the result of which will determine the outlook for trade negotiations with the US.

Business groups complain that while Beijing is expanding imports to serve its manufacturers and consumers, it blocks access to industries including finance and logistics. China wants to make a deal, but if they don't that's fine as well, he said.

Through the expo China is trying to convey an image that it is not only interested in importing away materials and crude oil from other countries but also consumer products that in particular appeal to the country's 400 million "middle-income" residents.

Inter's stand at the expo focuses on a range of topics, particularly Inter and China's 40 year relationship.

"We are encouraged to hear from President Xi the reaffirmation of China's support of global trade, and China's plan to further open itself to the world", said Robert Aspell, president of Asia Pacific for the USA agribusiness company Cargill, which is an exhibitor at the CIIE and has already made a decision to participate in the second expo. "However, unless some of the protectionist trade barriers now in place are changed, it won't make much difference either way".

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The Chinese president said China would push forward multilateral and bilateral cooperation in pursuit of development. But in a slap at Trump's "America first" policies and threats of import controls, he said the "the multilateral trading system should be defended".

The U.S. has imposed tariffs on 250 billion dollars worth of Chinese goods so far and China retaliated with 110 billion dollars worth of tariffs on U.S. goods. "Otherwise we wont do it", Mr Trump said on on a midterm election campaign conference call.

In the runup to the event, authorities have stepped up security in the Chinese city, banned people from flying drones, implemented traffic restrictions and shut down schools and government offices - measures typically associated with world events like the Olympic Games or G-20 meetings.

The fight has added to challenges for communist leaders are who trying to shore up economic growth that slumped to a post-global crisis low of 6.5 percent over a year earlier in the three months ending in September. Instead, he stepped up warnings that protectionism would harm global growth while pledging to boost domestic consumption, strengthen intellectual property protection and advance trade talks with Europe, Japan and South Korea. "On the other end, China's economy is not like a lake or pond, where local storms can disturb it, but like an ocean, too vast to be affected", Kuhn said.

He said there was every reason to be fully confident in the future of the Chinese economy, which in recent years has slowed down. "Looking ahead, China will always be here to stay!"

As a result of the pressure, Kenya has secured a commitment from President Xi Jinping that China will fast-track trade negotiations to open up its market for Kenyan exports. But it is "unlikely to have much impact" on its politically sensitive trade balance with the United States.

Xi admitted China could work to better protect intellectual property rights.

President Xi also had a message for those critics in the USA and elsewhere, who want to undermine China's successful development course.

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