The Strategist

China sets to increase imports from neighbouring countries

11/05/2021 - 02:34

China intends to increase imports from neighbouring countries, reduce the negative list for foreign investment and consistently expand openness in areas such as telecommunications and medicine, Chinese President Xi Jinping said at the opening ceremony of the Fourth China International Import Expo.

The Chinese leader pointed out that China's determination to share development opportunities with the world will never change, nor will its determination to promote economic globalisation.

"China will focus more on expanding imports and promoting balanced trade development," the Chinese leader said in his video message.

He pointed out that China will increase the number of innovative demonstration zones to promote import trade, optimise the list of imported retail goods for international online trade, and "increase imports from neighbouring countries".

"China will promote domestic and foreign trade integration, develop Silk Road e-commerce, build a modern logistics system and develop cross-border logistics capabilities," he added.

Xi Jinping stressed that China will reduce the negative list for foreign investment and consistently expand the openness of service sectors such as telecommunications and medicine.

China, he said, will review and expand the catalogue of industries encouraging foreign investment to channel more foreign capital into advanced manufacturing, modern service sectors, high technology, energy conservation and environmental protection, as well as China's central, western and northeastern regions.

"China will actively engage in cooperation through mechanisms such as the UN, WTO, G20, APEC and SCO, and promote discussions on strengthening trade and investment, the digital economy and the environment," he pointed out.

In addition, China will support "equitable distribution and unhindered trade globally in essential medical products, including vaccines".