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Xi of China promises opening of the market when the import fair starts

Xi of China promises opening of the market when the import fair starts

SHANGHAI (AP) – President Xi Jinping promised on Monday to open the growing consumer market in China more broadly at an import exchange intended to help resolve complaints. Beijing abuses the global trading system. But he did not offer an answer to American and European complaints about technology policy and investments.

The China International Import Expo is part of the efforts to develop trade networks aimed at China while at the same time resisting the industry plans that, according to Washington, Europe, Japan and other governments, are in conflict with market opening obligations.

"It is our sincere commitment to open up the Chinese market," Xi said in a speech to a VIP audience that included Russian Prime Minister Dmitry Medvedev.

Xi promised to reduce the costs for importers and improve the purchasing power of the consumer to stimulate imports.

The president did not mention the impasse with US President Donald Trump about Chinese plans for state-led development of technology industries. But in an indirect reference to Trump's America first & # 39; policies and threats to import controls, Xi appealed to other governments to ensure joint free trade & # 39;

Around 3,600 companies from 152 countries selling everything from Egyptian dates to German factory machines, attend the five-day event in a concise convention center that considers itself one of the world's largest buildings.

Chinese president Xi Jinping will be shown live in the media center during the opening ceremony for the China International Import Expo in Shanghai, Monday, November 5, 2018. Xi promised Monday to open China wider for import at the beginning of a high-profile trade show meant to to rename the country as a global customer, but did not offer an answer to US and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Chinese president Xi Jinping will be shown live in the media center during the opening ceremony for the China International Import Expo in Shanghai, Monday, November 5, 2018. Xi promised Monday to open China wider for import at the beginning of a high-profile trade show meant to to rename the country as a global customer, but did not offer an answer to US and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Chinese president Xi Jinping will be shown live in the media center during the opening ceremony for the China International Import Expo in Shanghai, Monday, November 5, 2018. Xi promised Monday to open China wider for import at the beginning of a high-profile trade show meant to to rename the country as a global customer, but did not offer an answer to US and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Prime ministers and other senior officials from governments, including Egypt, Pakistan and Vietnam were also present at the fair. The United States, China's largest trading partner, did not send a high-level envoy.

Xi's government emphasizes the promise of a growing consumer market of 1.4 billion people to ward off complaints that it is subsidizing new technology providers and protecting them from competition.

Business groups say that China still hinders access to industries, including finance and logistics. They say that regulators are trying to prevent foreign competitors from promising areas such as information security.

Xi promised steps that could address such complaints if implemented, including easing restrictions on foreign competitors in finance, education, telecom and healthcare. He did not give details or a timetable, but said that the ruling party was already making changes that had been promised the past year.

Entrepreneurs and economists welcomed the promises but said that Beijing should act quickly to remove concerns about the cooling, state-dominated economy.

The speech "is at least a tacit acknowledgment that much remains to be done", said the chairman of the American Chamber of Commerce in China, William Zarit, in an e-mail. "We will see if this leads to the timely far-reaching reforms needed for a fair and mutual bilateral commercial relationship."

The ruling Communist Party is trying to restore public confidence after economic growth fell to a post-global crisis of 6.5 percent less than a year earlier in the last quarter. The country's stock market has dropped 25 percent this year and has become the world's worst performance.

Xi acknowledged that some Chinese industries face "growing risks," but said that efforts to support growth are already bearing fruit.

China's $ 12 trillion per year economy is "a sea, not a small pond" and is resistant to shocks, he said.

"A storm can overthrow a small pond, but no sea," he said. "After more than 5000 years of adversity, China is still here, and China will always be there for the future."

China has lowered tariffs and announced other measures this year to boost imports, which increased by 15.9 percent to $ 1.8 trillion in 2017. But no complaint deals with complaints from the United States that led Trump to impose fines of up to 25 percent on $ 250 billion in Chinese imports. Beijing has responded with tariff increases for $ 110 billion of American goods.

At the exhibition, Beijing shows that it "makes efforts to stimulate imports," says Rajiv Biswas, chief Asia economist at IHS Markit. But a deal with Washington "requires important measures by the authorities to reduce bilateral trade imbalances and protect US intellectual property rights," he said.

Chinese leaders have rejected the pressure to push back plans, such as Made in China 2025, which call for state-led creation of world champions in the field of robotics and other areas that support the industrial leadership of the US could challenge.

Last week, Trump and Xi had a very positive & # 39; call phone call. They plan to meet this month in the Group of 20 gathering of the main economies in Argentina, but according to analysts a breakthrough is unlikely.

China is already the number 1 market for its Asian neighbors and is promoting its "Belt and Road" initiative to expand trade by building ports, railways and other infrastructure in 65 countries, from the South Pacific via Asia to Europe and Africa.

The Shanghai Expo also gives Beijing the opportunity to restore its image as a positive force for global development after complaints that "Belt and Road" projects leave the host countries too many debts, with too little work for local companies.

Exhibitors at the event were American car manufacturers and technology suppliers, European pharmaceutical and clothing brands, African tea exporters and Japanese electronics manufacturers.

At a stand for Nicolas Correa SA, a Spanish manufacturer of factory equipment, salesman Carl Che showed potential customers a bus-sized milling machine that could cost between 1 million and 5 million euros ($ 1.2 million to 6 million euros). Che said that Chinese manufacturers of wind turbines, aircraft and nuclear equipment have bought 406 of the machines since 2003 and want to expand the company to the food, health and other industries.

The exhibition is "a good opportunity to show ourselves to all of China," Che said. "Today we have received five customers who are very interested, it is just a matter of price."

The China agent for Metal Shark Boats, a New Orleans-based builder of heavy ships for police and fire brigade, had two 13-meter-long (40-foot-long) patrol boats in metal cradles.

It has sold five boats to the customs agency of China and sells itself to environmental and other regulators, said Sherman Ge, chairman of Shanghai-based Breeze Tech.

The exhibition also highlights the blurring of the lines between Chinese and foreign industry, while Chinese companies are expanding abroad.

Exhibitors who promoted imports to China were Volvo Cars from Sweden, a unit of Chinese car manufacturer Geely Holding; General Electric Appliances, part of China & # 39; s Haier Group in 2016, and California-based solar supplier MiaSole, part of Hanergy Group in Beijing.

Chinese President Xi Jinping speaks at the opening ceremony of the China International Import Expo in Shanghai, Monday, November 5, 2018. Xi promised Monday to open China wider for imports at the beginning of a high-profile trade fair that was intended to be renamed the country as a global customer, but did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (Aly Song / Pool Photo via AP)

Chinese President Xi Jinping speaks at the opening ceremony of the China International Import Expo in Shanghai, Monday, November 5, 2018. Xi promised Monday to open China wider for imports at the beginning of a high-profile trade fair that was intended to be renamed the country as a global customer, but did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (Aly Song / Pool Photo via AP)

Chinese President Xi Jinping speaks at the opening ceremony of the China International Import Expo in Shanghai, Monday, November 5, 2018. Xi promised Monday to open China wider for imports at the beginning of a high-profile trade fair that was intended to be renamed the country as a global customer, but did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (Aly Song / Pool Photo via AP)

A robot with a paper fan under "origami" paper cranes will be shown at the China International Import Expo in Shanghai, Monday, November 5, 2018. Chinese president Xi Jinping promised Monday to open China wider for import at the beginning of a high-end profile fair meant to to rename the country as a global customer, but did not respond to US and European complaints about technology policies and barriers for foreign companies. (AP Photo / Ng Han Guan)

A robot with a paper fan under "origami" paper cranes will be shown at the China International Import Expo in Shanghai, Monday, November 5, 2018. Chinese president Xi Jinping promised Monday to open China wider for import at the beginning of a high-end profile fair meant to to rename the country as a global customer, but did not respond to US and European complaints about technology policies and barriers for foreign companies. (AP Photo / Ng Han Guan)

A robot with a paper fan under "origami" paper cranes will be shown at the China International Import Expo in Shanghai, Monday, November 5, 2018. Chinese president Xi Jinping promised Monday to open China wider for import at the beginning of a high-end profile fair meant to to rename the country as a global customer, but did not respond to US and European complaints about technology policies and barriers for foreign companies. (AP Photo / Ng Han Guan)

Chinese girls pose for a selfie near the mascot for the China International Import Expo in Shanghai, Monday, November 5, 2018. Chinese president Xi Jinping promised Monday to open China wider for import at the beginning of a prominent trade show intended to change the country of rebrand as a global customer, but did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Chinese girls pose for a selfie near the mascot for the China International Import Expo in Shanghai, Monday, November 5, 2018. Chinese president Xi Jinping promised Monday to open China wider for import at the beginning of a prominent trade show intended to change the country of rebrand as a global customer, but did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Chinese girls pose for a selfie near the mascot for the China International Import Expo in Shanghai, Monday, November 5, 2018. Chinese president Xi Jinping promised Monday to open China wider for import at the beginning of a prominent trade show intended to change the country of rebrand as a global customer, but did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

A visitor poses for photos at the stand in Peru during the China International Import Expo in Shanghai, Monday, November 5, 2018. The Chinese president Xi Jinping has promised to open the Chinese market wider when he opened a trade fair that was meant to to promote the image of the country as an importer, but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

A visitor poses for photos at the stand in Peru during the China International Import Expo in Shanghai, Monday, November 5, 2018. The Chinese president Xi Jinping has promised to open the Chinese market wider when he opened a trade fair that was meant to to promote the image of the country as an importer, but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

A visitor poses for photos at the stand in Peru during the China International Import Expo in Shanghai, Monday, November 5, 2018. The Chinese president Xi Jinping has promised to open the Chinese market wider when he opened a trade fair that was meant to to promote the image of the country as an importer, but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Participants walk past robotic arms that are shown at the China International Import Expo held in Shanghai on 5 November 2018. Chinese president Xi Jinping has promised to open the Chinese market more broadly, because he has opened a trade fair that is intended to promote the image of the country as an importer. , but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Participants walk past robotic arms that are shown at the China International Import Expo held in Shanghai on 5 November 2018. Chinese president Xi Jinping has promised to open the Chinese market more broadly, because he has opened a trade fair that is intended to promote the image of the country as an importer. , but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Participants walk past robotic arms that are shown at the China International Import Expo held in Shanghai on 5 November 2018. Chinese president Xi Jinping has promised to open the Chinese market more broadly, because he has opened a trade fair that is intended to promote the image of the country as an importer. , but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Employees are waiting for those present near the words "New Era" at the China International Import Expo in Shanghai, Monday, November 5, 2018. The Chinese president Xi Jinping has promised to open the Chinese market more widely because he has opened a trade fair that is meant to be to promote the image of the country as an importer, but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Employees are waiting for those present near the words "New Era" at the China International Import Expo in Shanghai, Monday, November 5, 2018. The Chinese president Xi Jinping has promised to open the Chinese market more widely because he has opened a trade fair that is meant to be to promote the image of the country as an importer, but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Employees are waiting for those present near the words "New Era" at the China International Import Expo in Shanghai, Monday, November 5, 2018. The Chinese president Xi Jinping has promised to open the Chinese market more widely because he has opened a trade fair that is meant to be to promote the image of the country as an importer, but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Visitors stand near a helicopter shown at the China International Import Expo in Shanghai, Monday, November 5, 2018. Chinese president Xi Jinping promised Monday to open China wider for imports at the beginning of a high-profile trade show that was intended to rename the country as a global customer, but did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Visitors stand near a helicopter shown at the China International Import Expo in Shanghai, Monday, November 5, 2018. Chinese president Xi Jinping promised Monday to open China wider for imports at the beginning of a high-profile trade show that was intended to rename the country as a global customer, but did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Visitors stand near a helicopter shown at the China International Import Expo in Shanghai, Monday, November 5, 2018. Chinese president Xi Jinping promised Monday to open China wider for imports at the beginning of a high-profile trade show that was intended to rename the country as a global customer, but did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

A visitor takes a picture of the Aeromobil, a flying car from Slovakia, during the China International Import Expo in Shanghai, Monday, November 5, 2018. The Chinese president Xi Jinping has promised to open the Chinese market more broadly because he has opened a stock exchange that is to promote the image of the country as an importer, but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

A visitor takes a picture of the Aeromobil, a flying car from Slovakia, during the China International Import Expo in Shanghai, Monday, November 5, 2018. The Chinese president Xi Jinping has promised to open the Chinese market more broadly because he has opened a stock exchange that is to promote the image of the country as an importer, but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

A visitor takes a picture of the Aeromobil, a flying car from Slovakia, during the China International Import Expo in Shanghai, Monday, November 5, 2018. The Chinese president Xi Jinping has promised to open the Chinese market more broadly because he has opened a stock exchange that is to promote the image of the country as an importer, but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Visitors take photos near models of Chinese made aircraft and high-speed trains at the China International Import Expo in Shanghai, Monday, November 5, 2018. Chinese president Xi Jinping has promised to open the Chinese market wider because he has opened a stock exchange which is meant to promote the image of the country as an importer, but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Visitors take photos near models of Chinese made aircraft and high-speed trains at the China International Import Expo in Shanghai, Monday, November 5, 2018. Chinese president Xi Jinping has promised to open the Chinese market wider because he has opened a stock exchange which is meant to promote the image of the country as an importer, but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Visitors take photos near models of Chinese made aircraft and high-speed trains at the China International Import Expo in Shanghai, Monday, November 5, 2018. Chinese president Xi Jinping has promised to open the Chinese market wider because he has opened a stock exchange which is meant to promote the image of the country as an importer, but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

A security guard is standing near a display with home care robots at the Toyota booth at the China International Import Expo in Shanghai, Monday, November 5, 2018. Chinese president Xi Jinping has promised to open the Chinese market more broadly because he has a stock exchange opened that is intended to promote the image of the country as an importer, but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

A security guard is standing near a display with home care robots at the Toyota booth at the China International Import Expo in Shanghai, Monday, November 5, 2018. Chinese president Xi Jinping has promised to open the Chinese market more broadly because he has a stock exchange opened that is intended to promote the image of the country as an importer, but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

A security guard is standing near a display with home care robots at the Toyota booth at the China International Import Expo in Shanghai, Monday, November 5, 2018. Chinese president Xi Jinping has promised to open the Chinese market more broadly because he has a stock exchange opened that is intended to promote the image of the country as an importer, but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

A security officer passes a helicopter that is shown at the China International Import Expo held in Shanghai on Monday, November 5, 2018. Chinese President Xi Jinping has promised to open the Chinese market more widely because he has opened a trade show to improve the image of the to promote the country as an importer, but he did not offer an answer to US and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

A security officer passes a helicopter that is shown at the China International Import Expo held in Shanghai on Monday, November 5, 2018. Chinese President Xi Jinping has promised to open the Chinese market more widely because he has opened a trade show to improve the image of the to promote the country as an importer, but he did not offer an answer to US and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

A security officer passes a helicopter that is shown at the China International Import Expo held in Shanghai on Monday, November 5, 2018. Chinese President Xi Jinping has promised to open the Chinese market more widely because he has opened a trade show to improve the image of the to promote the country as an importer, but he did not offer an answer to US and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Participants walk past robotic arms that are shown at the China International Import Expo held in Shanghai on 5 November 2018. Chinese president Xi Jinping has promised to open the Chinese market more broadly, because he has opened a trade fair that is intended to promote the image of the country as an importer. , but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Participants walk past robotic arms that are shown at the China International Import Expo held in Shanghai on 5 November 2018. Chinese president Xi Jinping has promised to open the Chinese market more broadly, because he has opened a trade fair that is intended to promote the image of the country as an importer. , but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Participants walk past robotic arms that are shown at the China International Import Expo held in Shanghai on 5 November 2018. Chinese president Xi Jinping has promised to open the Chinese market more broadly, because he has opened a trade fair that is intended to promote the image of the country as an importer. , but he did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Microsoft founder Bill Gates, on the right, speaks with Jim Yong Kim, president of the World Bank, before the opening ceremony of the first China International Import Expo (CIIE) in Shanghai, Monday, November 5, 2018. (Aly Song / Pool Photo via AP)

Microsoft founder Bill Gates, on the right, speaks with Jim Yong Kim, president of the World Bank, before the opening ceremony of the first China International Import Expo (CIIE) in Shanghai, Monday, November 5, 2018. (Aly Song / Pool Photo via AP)

Microsoft founder Bill Gates, on the right, speaks with Jim Yong Kim, president of the World Bank, before the opening ceremony of the first China International Import Expo (CIIE) in Shanghai, Monday, November 5, 2018. (Aly Song / Pool Photo via AP)

Visitors stand near a helicopter shown at the China International Import Expo in Shanghai, Monday, November 5, 2018. Chinese president Xi Jinping promised Monday to open China wider for imports at the beginning of a high-profile trade show that was intended to rename the country as a global customer, but did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Visitors stand near a helicopter shown at the China International Import Expo in Shanghai, Monday, November 5, 2018. Chinese president Xi Jinping promised Monday to open China wider for imports at the beginning of a high-profile trade show that was intended to rename the country as a global customer, but did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

Visitors stand near a helicopter shown at the China International Import Expo in Shanghai, Monday, November 5, 2018. Chinese president Xi Jinping promised Monday to open China wider for imports at the beginning of a high-profile trade show that was intended to rename the country as a global customer, but did not offer an answer to American and European complaints about technology policy and the restraining of foreign companies. (AP Photo / Ng Han Guan)

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