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11/5/2018, 3:47 AM (Source: TeleTrader)
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Xi pledges to open China's markets to world

Chinese President Xi Jinping pledged Monday to open China's markets to the world. In a speech at the opening of the first China International Import Expo in Shanghai, Xi said that China will only become more and more open to the world and in that spirit, it will lower import taxes and simplify issuing customs clearance to stimulate more imports, media reported.

Xi said that China's initiative to expand imports is not a "makeshift" decision but a long-time consideration to embrace the world and the future. "The Chinese economy is a sea, not a pond. Storms can overturn a pond, but never a sea," Xinhua quoted Xi as saying.

The Chinese president also called for building the global economy through lower trade barriers and more open markets. He also called for larger macroeconomic policy cooperation between countries and noted that global recovery has not yet been stabilized.

Breaking the News / KP