– Chinese President XI Jinping assured that China intends to actively develop a policy of openness to the outside world.
Economy04 APR 2018США and China on brink of trade war. To obobscheniyami read more
“Open the doors of China will not close, on the contrary, they will open wider and wider,” said XI, speaking at an economic forum opened in Boao (China southern island province of Hainan).
The Chinese President promised to give foreign companies greater access to financial and productive sectors, to increase imports, and improve the protection of intellectual property and ensure more transparent and controlled environment for foreign investment.
In particular, the Chinese authorities intend to ease restrictions for participation of foreign investors in the banking and insurance business and in companies engaged in operations with securities.
In addition, China plans to lower tariffs on imported cars and allow foreign automakers to own larger stakes in joint venture to produce cars in China.
In his speech, XI Jinping stressed that “economic globalization is an irreversible trend of the present time”. However, he said that China “does not seek surplus of trade.”
In his speech, XI Jinping did not mention directly about the trade disputes with the United States, which had previously announced its intention to introduce higher import duties on a number of goods Chinese exports.
The US President Donald trump on Sunday in his Twitter account mentioned that he supports with XI Jinping and friendly relations, but noted that he expects that China will remove “barriers” to the development of bilateral trade ties.
However, trump tweeted: “When cars from China are coming to the United States, the duty on them is 2.5%. When American cars do that in China, the duty is 25%. It looks like a fair and free trade? No.”
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