China’s Xi promises to open market, hits back at Trump
Chinese president appealed to other governments to ‘jointly safeguard free trade’
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 centre, is part of efforts to develop China-centred 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 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 stand-off with US President Donald Trump over Chinese plans for state-led development of technology industries.
But in an indirect reference to Trump’s ‘America first’ policies and threats of import controls, Xi appealed to other governments to “jointly safeguard free trade.”
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 centre 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. The United States — China’s biggest trading partner — did not send a high-level envoy.
Deflecting complaints
Xi’s government is emphasising the promise of a growing consumer market of 1.4 billion people to help deflect the complaints that it subsidises fledgling technology suppliers and shields them from competition.
Business groups say 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.