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Monday, November 05, 2018, 15:27
Xi stresses opening up as he declares CIIE open
By Xinhua
Monday, November 05, 2018, 15:27 By Xinhua

Chinese President Xi Jinping delivers a keynote speech at the opening ceremony of the first China International Import Expo in Shanghai, China, Nov 5, 2018. (YAO DAWEI / XINHUA)

SHANGHAI – China will push forward multilateral and bilateral cooperation in pursuit of development, President Xi Jinping said Monday.

Xi made the remarks while delivering the keynote speech at the opening ceremony of the first China International Import Expo (CIIE)  in Shanghai. 

Declaring the inauguration of the CIIE, which is scheduled to be held from Nov 5-10, Xi pointed out that all countries should uphold the principle of inclusive development and shared benefits, in order to realize common development.

All countries should be committed to opening up and oppose protectionism and unilateralism in a clear-cut stand.

Xi Jinping, President, China

The CIIE is "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," Xi said when delivering a keynote speech at the opening ceremony.

Economic globalization is an irreversible historical trend and provides strong momentum for the world economic development, Xi said, as he called on all countries to remain committed to opening-up and opposing protectionism and unilateralism.

READ MORE: Full text of keynote speech by President Xi at opening ceremony of CIIE

"All countries should be committed to opening up and oppose protectionism and unilateralism in a clear-cut stand," Xi said, calling for joint efforts to build an open world economy.

In a time when the waves of protectionism and unilateralism are threatening global growth, the expo is expected to muster support for free trade and inject certainty to the world economy.

"The Chinese economy is a sea, not a pond. Storms can overturn a pond, but never a sea," President Xi Jinping said as he pledged that China will not close its door to the world and will only become more and more open. 

A fully optimistic attitude can be harbored toward the prospects of China's economic development, Xi said, as he said that every country should strive to improve their own business environment and solve their own problems.

There is every reason to be fully confident in the future of the Chinese economy, he said. At present, Chinese economy remains generally stable and is making good progress, Xi said citing data including the GDP growth of 6.7 percent in the first three quarters of 2018.

"China's economy is truly performing well within the reasonable range, giving us a solid foundation for delivering the development goals for the whole year.”

Compared with other major economies, China still ranks among the world's top in terms of GDP growth, Xi said.

READ MORE: Xi: Import expo belongs to world

With the Belt and Road Initiative being further implemented, two-way investment and trade between China and countries along the Belt and Road have continued to gather pace, he said. "All in all, the favorable conditions are in place for the long-term, healthy and steady growth of the Chinese economy.”

Chinese President Xi Jinping poses for a group photo with foreign leaders before the opening ceremony of the first China International Import Expo in Shanghai, China, Nov 5, 2018. (DING HAITAO / XINHUA)

With the slogan "New Era, Shared Future," the expo is the brainchild of Xi and is set to become a platform for win-win economic cooperation and a landmark project in the country's higher-level opening-up.

China will stimulate the potential for increased imports, continue to broaden market access, foster a world-class business environment, explore new horizons of opening-up, and promote international cooperation at multilateral and bilateral levels, Xi said.

Xi said China's imported goods and services are estimated to exceed US$30 trillion and US$10 trillion, respectively, in the next 15 years.

The Chinese president said measures announced in April to relax market access have been so far implemented. China has further simplified negative list of foreign investment, reduced investment limits and lifted the level of free investment.

China is taking solid steps to expand financial opening-up, continue to advance opening-up in the service sector, deepen opening-up in agriculture, mining, manufacturing, and accelerate the opening-up process of sectors including telecommunications, education, medical treatment and culture, Xi said.

Saying that China will capitalize on the important role of Shanghai and surrounding areas in opening up, the Chinese leader said the country will expand the China (Shanghai) Pilot Free Trade Zone to include a new section, and will encourage and support bold and creative steps by Shanghai to advance investment and trade liberalization and facilitation so that more of its successful practices may be replicated in other parts of China.

The president also announced China's decision to launch a science and technology innovation board at the Shanghai Stock Exchange and experiment with a registration system for listed companies.

ALSO READ: SAR to showcase gateway role in nation's first import expo

China will support Shanghai in cementing its position as an international financial center and a hub of science and innovation, and steadily improving the fundamental institutions of its capital market, he said.

China will speed up the exploration of the building of free trade ports with Chinese characteristics, Xi said, stressing that the CIIE is a "trail-blazing" move in the history of international trade development.

A total of 172 countries, regions and international organizations from five continents will showcase their development achievements at the expo.

More than 3,600 companies from different countries will hold discussions and seek common development with purchasers from China and overseas.

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