Chinese President announced to ease market access

Shanghai: Chinese President Xi Jinping said that China will further ease market access for foreign investment and shorten the negative list.

While delivering a keynote speech at the opening ceremony of the second China International Import Expo President Xi said that China will continue to improve the business environment to make it more market-oriented, law-based and internationalized.

A year ago in this same place, the inaugural China International Import Expo was successfully held. Today, we are happy to be joined by even more friends in the second Expo that carries on the theme of “New Era, Shared Future”. I trust that you will all find your participation in the event worthwhile and rewarding! He added.

At last year’s Expo, I announced the initiatives China was to take in the five areas of further opening-up and spelt out three specific steps for Shanghai to open wider to the world. One year on, these initiatives and steps have been by and large put in place. The Shanghai Pilot Free Trade Zone now has a Lingang special area, and six other new pilot free trade zones have been set up in other provinces of the country. The Shanghai Stock Exchange launched a sci-tech innovation board, with a registration system being piloted for the listing of companies. In the Yangtze River Delta area, a plan for integrated development of the region has been introduced as a national strategy. At the national level, a Foreign Investment Law will enter into force on 1 January next year. A management system combining pre-establishment national treatment and the negative list has been effected nationwide. Major progress is being made in increasing imports to boost consumption and in bringing down the tariff level. For last year’s Expo, during my bilateral events with foreign leaders, 98 initiatives were agreed upon, of which 23 have now been completed, 47 are making good progress, and 28 are on track of steady implementation, he further added.

President Xi also purposed three ways for strengthening the mechanisms for sharing benefits globally, and explore new ways of international cooperation.

let us work together to build an open world economy through cooperation,with innovation and for mutual benefits, he purposed in his speech.

Xi said that China will continue to open up its market ,  optimizing its opening-up structure and will continue to improve the business environment.

President of France and other leaders also delivered the speeches in opening ceremony.

The Country Exhibition covers an area of around 30,000 square meters in this year’s CIIE. Including China, 64 countries from five continents and the World Trade Organization, the United Nations Industrial Development Organization and the International Trade Center are attending the Country Exhibition in import Expo 2019. A total of 15 countries have been granted “guest of honor” status: Cambodia, the Czech Republic, France, Greece, India, Italy, Jamaica, Jordan, Kazakhstan, Malaysia, Peru, Russia, Thailand, Uzbekistan and Zambia.

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