President Xi Jinping delivers the keynote speech at the opening ceremony of the third China International Import Expo via video on Nov 4. The expo ends on Nov 10 in Shanghai. (WANG ZHUANGFEI / CHINA DAILY)

President Xi Jinping hailed China’s vast market as the world’s most promising as the nation’s imports in the coming decade are forecast to top US$22 trillion.

Xi made the remark as he spoke via video link at the opening ceremony of the third China International Import Expo, held in Shanghai on Nov 4.

He said that this year’s CIIE, convened as COVID-19 hits countries hard and deals a heavy blow to the world economy, demonstrates China’s sincere desire to share its market opportunities with the world and contribute to global economic recovery.

“Our aim is to turn the China market into a market for the world, a market shared by all, and a market accessible to all. This way, we will be able to bring more positive energy to the global community,” Xi said.

Regarding China’s new development pattern with the domestic market as the mainstay and domestic and international markets reinforcing each other, Xi said: “What we envision is not a development loop behind closed doors, but more open domestic and international circulation.”

China will explore more efficient ways to connect domestic and foreign markets and share factors of production and resources, he said.

Noting that China has continued to quicken its pace of opening-up this year, Xi announced an array of new measures for expanding the all-around opening-up of the country, which has a middle-income group that alone exceeds 400 million.

“China will nurture new pacesetters of opening up,” he said. The nation will continue to leverage the pioneering role of pilot free trade zones and free trade ports in steering opening up. It will introduce a negative list for cross-border services trade and open wider in areas like the digital economy and the internet. 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.

“China will pursue creative ways to grow foreign trade,” Xi said. Through the CIIE and other platforms of opening-up, the nation will continue to support companies from around the world in exploring business opportunities in China. It will tap into the growth potential of foreign trade with a view of boosting growth in international trade and the world economy.

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

“China will keep improving its business environment,” Xi said. It 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.

“China will pursue deeper bilateral, multilateral and regional cooperation,” he said. It 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 an investment treaty with the European Union and a free trade agreement with Japan and the Republic of Korea.

China looks forward to more exchanges and mutual learning with high-standard free trade areas in other parts of the world. It will take an active part in World Trade Organization reform in cooperation with the United Nations, the G20, the Asia-Pacific Economic Cooperation and BRICS, among others. China will work with related countries to promote high-quality Belt and Road cooperation and build a community with a shared future for mankind.

The president said a range of pro-business relief policies adopted by China in the wake of COVID-19 will apply equally to all companies registered in China as the nation keeps improving its business environment.

The Chinese economy is steadily picking up despite the impact of COVID-19, as shown by the positive overall growth in the first three quarters, including 0.7 percent growth in foreign trade and a 5.2 percent rise in foreign investment projects.

The president also stressed that the overwhelming trend for countries to move toward openness and cooperation remains unchanged, as he called on major economies and developing countries to take joint responsibility to open up and promote world development.

Also at the CIIE opening, Li Xingqian, an official with the Ministry of Commerce, said the country will establish 10 demonstration zones to promote imports.

Tasked with promoting trade and facilitating its innovation, the zones will be set up in Shanghai as well as in Liaoning, Jiangsu, Zhejiang, Anhui, Fujian, Shandong, Guangdong, Sichuan and Shaanxi provinces.

Xinhua contributed to this story.

Contact the writers at mojingxi@chinadaily.com.cn