Xi underlines need to uphold liberal trading order

Business | 5 Nov 2019 10:34 am

Global trade barriers must be removed, and countries should uphold basic multilateral trade principles while standing firm against protectionism and unilateralism,  President Xi Jinping said in Shanghai today.

Speaking at the opening of the China International Import Expo, or CIIE, an annual import show in Shanghai, Xi said more efforts were needed to boost international cooperation and remove barriers to innovation.

"We should uphold the multilateral trading system, and promote the liberalization and facilitation of trade and investment,'' Xi said.

He said there is no single country that can resolve by itself the difficulties facing the development of the world’s economy.

China has made major progress in expanding imports to promote consumption and cutting tariffs as part of efforts to further open up its market, Xi said.

All of the five measures to expand opening-up announced at the previous expo have been generally implemented, Xi added.

He presented three proposals for economic globalization, calling for efforts to uphold the core values and basic principles of the multilateral trading regime, and promote trade and investment liberalization and facilitation.

The second CIIE will last until Sunday, after which the country pavilion exhibitions will be extended for eight more days and open to the public for free from November 13 to 20.-Reuters/Xinhua

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