President Xi Jinping delivers a keynote speech via video at the opening ceremony of the third China International Import Expo held in Shanghai on Nov 4, 2020. (PHOTO / XINHUA)

BEIJING - Efforts will be made to steadfastly expand all-round opening up and turn China's market into a market for the world, a market shared by all, and a market accessible to all, Chinese President Xi Jinping said Wednesday.

Xi made the remarks while delivering a keynote speech via video at the opening ceremony of the third China International Import Expo (CIIE).

Xi said China's huge market is the most promising in the world, adding that the country's goods import is estimated to top US$22 trillion in the coming decade

Xi said China's huge market is the most promising in the world, adding that the country's goods import is estimated to top US$22 trillion in the coming decade.

The Chinese economy showed positive overall growth in the first three quarters with a 0.7 percent growth in foreign trade, Xi said.

The country also saw a 5.2-percent rise in paid-in foreign investment in the first three quarters this year, he added.

Opening up

Xi said China will nurture new pacesetters of opening up and  will continue to leverage the pioneering role of pilot free trade zones and free trade ports in steering opening up. 

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China will introduce a negative list for cross-border services trade and open still wider in areas like the digital economy and the internet, Xi said.

He added that China will deepen reform and innovation in trade and investment liberalization and facilitation, and make institutional innovations to support an open economy of higher standards.

Growing foreign trade

China will pursue creative ways to grow foreign trade and will continue to support companies from around the world in exploring business opportunities in China through the CIIE and other platforms of opening up, Xi said.

It will tap into the growth potential of foreign trade with a view to boosting growth in international trade and the world economy, he added.

Xi said China will encourage cross-border e-commerce and other new business forms and models to grow even quicker to foster new drivers of foreign trade. 

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China will shorten its catalog of technologies prohibited or restricted from import to create a favorable environment for the free flow of technologies across borders, he added.

Xi said China will keep improving its business environment and will continue to make its foreign-related legal framework more open and transparent, strengthen intellectual property protection, better protect the lawful rights and interests of foreign investors, and provide them with more high-quality services to further improve the business environment.

Deeper ties

He said China will also pursue deeper bilateral, multilateral and regional cooperation and stands ready to sign high-standard free trade agreements with more countries in the world. 

China will work for the early signing of the Regional Comprehensive Economic Partnership and speed up negotiations on a China-EU investment treaty and a China-Japan-ROK free trade agreement, Xi said.

He said China looks forward to more exchanges and mutual learning with high-standard free trade areas in other parts of the world. 

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China will take an active part in WTO reform and in cooperation at the United Nations, the G20, APEC, BRICS and other fora. China will work with related countries to promote high-quality Belt and Road cooperation and build a community with a shared future for mankind, Xi added.