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China’s Initiative To Expand Imports Long-term Promoting Common Development: Xi Opens Expo

China’s Initiative To Expand Imports Long-term Promoting Common Development: Xi Opens Expo
Xi Opens Expo Fiji Sun journalist, Lusiana Tuimaisala among more than 4000 journalists is covering China’s International Import Expo (CIIE), opened in China’s financial hub of Shanghai on
November 06
15:35 2018

 

China will not close its door to the world and will only become increasingly open.

It will push forward multilateral and bilateral cooperation in pursuit of development. A fully optimistic attitude can be held toward the prospects of China’s economic development.

Every country should strive to improve their own business envi­ronment and solve their own problems. Countries must learn from each, and the world needs China for its development.

Chinese President Xi Jinping made these remarks yesterday at the opening ceremony of the first China’s International Import Expo (CIIE), in China’s financial hub of Shanghai.

CIIE theme focussed on- New era shared future.

Mr Xi pledged that the country will make non-stop efforts in re­form and opening while stressing China’s commitments in building a community with a shared future for man-kind as well as pushing for an open world economy.

“Openness has become a vivid symbol of modern China, detailing the country’s accomplishments over the 40 years since its reform and opening-up. China has achieved the great historical turn from being closed or semi-closed to all-round opening up.”

Mr Xi emphasised higher-quality economic development under a more open market condition.

“China will never stop its steps toward pushing for the construc­tion of an open world economy. China will never stop its steps to­ward building a community with a shared future for man-kind,” Mr Xi promised.

According to President Xi a higher-level liberalisation and facili­tation policy of trade and investment will be put forth to achieve the “win-win” opening strategy. He is also hoping to set up a link between land and sea, and reciprocity between the East and West.

He said the further opening and reform does not just benefit China, but benefits the whole world, adding that the country will remain an all-time active contributor of governance reform around the world.

“I believe that, with strong supports and joint efforts of all sides, the CIIE will surely provide a new platform for deepening interna­tional economic and trade cooperation, advancing the joint develop­ment of the Belt and Road, and promoting economic globalisation, and make greater contribution to boosting the well-being of all peo­ple and building a community with a shared future for humanity,” Mr Xi said.

He added that countries should stick to innovation and accelera­tion the transition with traditional growth drivers being replaced by new ones. Every country should uphold the principle of inclusive development and shared benefits, to realise common development.

China’s imported goods and services

President Xi said China’s imported goods and services are esti­mated to exceed US$30 trillion (FJ$63t) and US$10 trillion (FJ$ 21t), in the next 15 years. China’s initiative to expand imports is not a makeshift, but long-term consideration of embracing the world and future while promoting common development. China will speed up the exploration of the building of free trade ports with Chinese characteristics.

He said the CIIE was hosted by China but for the world, stressing that it is not an ordinary expo, but a major policy for China to push for a new round of high level opening-up and a major measure for China to take the initiative to open its market to the world.

Adding that the event shows China’s persistent stance on support­ing the multilateral trading system and promoting the development of free trade.

Shanghai’s role in opening up

President Xi said Shanghai was the largest economic centre of China and was at the frontier of China’s reform and opening-up. It has witnessed the historical course of China’s opening-up and coop­eration since modern times and has written a splendid chapter of China’s 40 years of reform and opening-up.

China will undertake three measures to fully leverage Shanghai’s role in opening-up;

n China will set up new districts of China (Shanghai) Pilot Free Trade Zone and encourage the innovative exploration in facilitating trade and investment, accumulating more experience that can be promoted nationwide.

nChina will establish a technological innovation board in Shang­hai Stock Exchange and take it as a pilot for registration and sup­port the building of Shanghai World Financial Center and Technol­ogy Innovation Center, continuously improving the fundamental policy of the capital market.

nChina will promote the integration in the Yangtze River Delta region as a national strategy to build a modern economic system.

The week-long event gathered government officials from around the world including Fiji, business communities, exhibitors and professional purchasers across the world and provides them new channels for countries and regions to do business, strengthen coop­eration and promote common prosperity of the world economy and trade.Many countries who will display are from G20 member states as well as countries with links to the Belt and Road Initiative (BRI).

More than 3,600 companies from different countries will hold discussions and seek common development with purchasers from China and overseas. Guests will also exchange views about major issues concerning international economy and trade and global economic governance. A total of 172 countries, regions, and inter­national organisations from the five continents will display their development achievements and international image to the world.

Feedback: maraia.vula@fijisun.com.fj

 

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