Xi Jinping vows to lower tariffs, increase imports

Xi Jinping vows to lower tariffs, increase imports

"Trade war is the most stupid thing in this world", Ma said, adding: "Nobody can stop the free trade".

Last week, U.S. President Donald Trump reported back approvingly on a "long and very good conversation" he had over the phone with his Chinese counterpart, Xi Jinping, ahead of talks between the two at the G20 summit in Argentina later this month.

He also laid down a roadmap of Chinese imports for the next 15 years and said, "China's imported goods and services are estimated to exceed 30 trillion United States dollars and 10 trillion USD, respectively, in next 15 years".

Uhuru said that a more balanced trade between China and Africa would help fight the propaganda that the Asian giant was taking advantage of poor countries.

Opening the China International Import Expo, or CIIE, Mr Xi hopes to show foreign companies that the ease and potential of exporting to Chinese consumers is shifting.

The China International Import Expo (CIIE) is a "trail-blazing" move in the history of international trade development.

In a speech that largely echoed previous promises, Xi said China would accelerate opening of the education, telecommunications and cultural sectors, while protecting foreign companies' interests and enhancing punitive enforcement for infractions of intellectual property rights.

"We are going to Shanghai to represent more than 89 of our members who are able to export a range of products (to China)", Sandile Ndlovu, Executive Director of the South African Aerospace, Maritime and Defence Export Council, said.

"This trade, however, was skewed heavily in favor of China", Kenyatta said, noting concerns similar to those coming out of Washington.

Professor Shen Guobing from the School of Economics at Fudan University in Shanghai told gbtimes.com that China was already moving ahead, as evidenced by the latest World Bank Ease of Doing Business report that saw China jump 32 places to rank 46th among the world's economies previous year.




Inter's Chinese fans will also be in for a treat with club legend and current vice-president Javier Zanetti to attend on November 8 and 9.

China is using the Expo to showcase its willingness to open up its huge market to other countries.

China imported $1.84 trillion of goods in 2017, up 16 percent, or $255 billion, from a year earlier.

It proves that China means business in further promoting win-win and balanced trade.

"We've taken the toughest-ever action to crack down on China's abusive trade practices".

The American president has this year targeted allies and adversaries alike, threatening tariffs on all of China's exports, proposing levies on European car-makers and saying he could leave the WTO, which he has described as "unfair".

"China now ranks as the number one trading partner with Kenya accounting for 17.2 per cent of Kenya's total trade with the world".

"China is committed to further opening-up, increasing areas for foreign investment and providing the world's largest market for exporters over the world".

China marks the 40th anniversary of reform and opening up this year.

Related Articles