China's richest person exasperated with trade war

07 November, 2018, 17:27 | Author: Emmett Rice
  • China's Expo attracts 1000 firms from Belt and Road countries

The company unveiled its $200 billion goal at its Global Import Leadership Summit held at the first-ever China International Import Expo in Shanghai.

Khan hailed China's reform and opening up policy which provides Chinese industries a better environment to compete in global trade.

In his opening speech, Xi sought to reassure the world that China's growing prosperity was not a threat but presented business opportunities, and that Beijing remained committed to the reform and opening up policy initiated by Deng Xiaoping in 1978.

Based on final 2017 data from China's General Administration of Customs cited by the CeSIF report, Chinese exports to the European Union totalled 372.04 billion US dollars, marking a 9.7-percent increase over the previous year, while European Union exports to China increased 17.7 percent, reaching 244.87 billion USA dollars.

Xi vowed at the opening of a new import fair in Shanghai on Monday that China had a "sincere commitment" to open its markets, despite foreign accusations that it was dragging its feet or backsliding amid calls to remove barriers to market access.

About 180 US companies are sending representatives, including big names such as Google, Boeing, Caterpillar, Facebook, General Motors, Honeywell International, Microsoft, Tesla and Qualcomm.

The event, which has a United Kingdom delegation led by the trade secretary Liam Fox, is aimed at bolstering access to China for foreign firms but has been overshadowed by the trade spat with Donald Trump.

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Xi announced five new measures China would take to expand its opening-up policy.

To bolster imports, Xi promised to further cut tariffs and ease regulations against foreign enterprises in the medical and education fields, expressing a willingness to promote free trade talks and deepen cooperation in state-of-the-art technology with other countries. China has further simplified negative list of foreign investments, reduced investment limits and lifted the level of free investment. China would foster a "world-class business environment", including stricter controls on worldwide property rights.

A similar agreement is likely from state-owned China National Chemicals Corp, or ChemChina, for one of its annual crude oil and refined fuel agreements, said a separate trading executive with knowledge of the matter.

Novartis was one of the first global firms to enter China, one of the drugmaker's most important markets.

Xi reportedly did not name Trump or the US, but his target was apparent to all.

"They should not just point fingers at others to gloss over their own problems". The ocean may have its calm days, but big winds and storms are only to be expected. "Storms can overturn a pond, but never a sea". Having experienced numerous winds and storms, the ocean will still be there!

Ma, which has always been the face of Alibaba, will step down from his role as Alibaba executive chairman in September next year, handing over the reins to current chief executive Daniel Zhang as he seeks to spend more time in philanthropy and education.


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    China's Premier Li Keqiang, right, speaks next to Tennessee Senator Lamar Alexander during a meeting with a group of U.S. Republican senators and Congress members at Zhongnanhai leadership compound in Beijing, Thursday, Nov. 1, 2018.
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