China's Xi promises market opening as import fair begins

China's Expo attracts 1000 firms from Belt and Road countries

China's Expo attracts 1000 firms from Belt and Road countries

The Forum is particularly relevant because it will be held on the opening day of the International Import Expo of China, a very big event of commercial promotion, business and investment that will bring together in Shanghai from November 5 to 10 Heads of State and Government, ministers, executive heads, entrepreneurs, industrial manufacturers, and agricultural producers from 130 countries. "China will not stop its efforts to pursue an open world economy", he continued.

"It is our honest commitment to open the Chinese market", Xi said. The report also highlights that, between 2014 and 2017, the number of shoppers on Alibaba's dedicated platform for cross-border shopping, Tmall Global, has grown ten-fold.

Mr Xi was speaking at the China International Import Expo which is aimed at promoting China as an open economy that's keen to purchase goods from other countries.

Organisers of the expo say more than 3,000 foreign companies from 130 countries, including the U.S., are present. But in opening a high-profile import expo in Shanghai he provided no response to USA and European complaints about technology policy and curbs on foreign business. Participating countries have put on display a variety of products from agricultural products to consumer goods.

It will be short on substance meant to signal China's willingness to narrow trade deficits and openness.

The Star Kenya reports that during the bilateral talks, Uhuru expressed concern about the trade imbalance and demanded access to the Chinese market for Kenya's produce.

U.S. may announce waiver for India from Iran sanctions on Sunday
But he added: "In the past few months our people have faced hard times and it's possible that the next few months will be hard ". Pompeo said that he is convinced these sanctions are going to have an enormous impact on the Iranian leadership.

Xi hit back against President Donald Trump's "America First" policies Monday with some of his most pointed language yet, denouncing "law of the jungle" and "beggar-thy-neighbor" trade practices.

China, dubbed "the workshop of the world" for its sprawling supply chains and huge export capacity, is hoping to manufacture something new next week at a huge trade fair in Shanghai next week: import orders.

Without naming the United States, Xi said that the global free trade system was "under attack". When its economy sees changes amid overall stability with increased downward pressure, the country's resolve to open up becomes even stronger. Why?

The fundamentals for sound and stable economic growth remain unchanged, the necessary production factors for high-quality development remain unchanged, and the overall momentum of long-term economic stability and progress also remains unchanged, Xi said.

He also promised that he will improve China's import industry adding that the country will import $45 trillion worth of goods and services within the next 15 years.

China sees the expo as one of this year's most important diplomatic events, along with the Boao Forum for Asia, billed as the region's answer to the World Economic Forum in Davos, and the meeting of the Shanghai Cooperation Organisation, a Chinese-led security bloc. It was a clear signal that China was taking a further step in its "reform and opening-up" and putting out the welcome mat to those firms wishing to sell goods or set up businesses in China. China has a couple of times made it clear it will not be the loser in a deal.

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