China to 'step up' market reforms amid USA trade war

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Xi was no doubt also sending a clear message to the United States that China was willing to take greater measures in opening its markets to US products in order to resolve the trade conflict. -Chinese goods. Donald Trump is now exerting pressure on the Asian nation to wind back its $423 billion trade surplus with the world.

"All countries should strive to improve their business environment and solve their own problems", he said.

"They should not hold a flashlight in hand, doing nothing but highlight the weaknesses of others and not their own".

Chinese President Xi Jinping promised on Monday to lower tariffs, broaden market access and import more from overseas at the start of a trade expo created to demonstrate goodwill amid mounting frictions with the United States and others. A total of 172 countries, regions and worldwide organizations are now attending the CIIE.

It remained to be seen whether Xi's latest promises would satisfy increasingly impatient trading partners.

Last year, Xi estimated that China would import $24 trillion worth of goods over the next 15 years.

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But trading partners and foreign enterprises say he is yet to put his money where his mouth is, and they are exhausted of empty promises.

However, the comments were short on specifics. During that day two topics will be put on the scene for the debate: the Role of the Media and the Research Centers in an Open World Economy and an Open China and the Development of the World.

Foreign business surveys indicate the playing field is worsening as Xi champions a strong-China message not unlike Trump's "America First" platform.

Presidents or prime ministers from 17 countries were set to attend the expo, ranging from Russian Federation and Pakistan to the Cook Islands, though none from major Western nations.

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

Khan hailed China's reform and opening up policy which provides Chinese industries a better environment to compete in global trade.

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During a recent visit to Mexico City, ECLAC Executive Secretary Alicia Barcena spoke with Xinhua about the five-day expo that will kick off on Monday in Shanghai, saying it exemplifies China's willingness to welcome the rest of the world through trade. Investors watching Xi's speech for evidence that China was serious about accelerating its economic opening and wanted a quick resolution to the trade war were left underwhelmed. "It is important therefore to correct the trade imbalance and enable a fairer share of trade".

"For my understanding, it's the greatest challenge for China".

An overwhelming response to the expo from foreign firms tells much about the appeal of China's opening up.

China ranks 59th out of the 62 countries evaluated by the Organization for Economic Cooperation and Development in terms of openness to foreign direct investment.

The Chinese government's determination to continue to further open up China gives global companies the confidence and motivation to expand in the country, according to the local head of Novartis.

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