Chinese President Xi Jinping urged his country to invigorate import potential, continue to relax market access, create a world-class business environment and a new highland for opening up and promote in-depth development of multilateral and bilateral cooperation to further expand opening up.
Xi made the remarks on Monday at the opening ceremony of China's International Import Expo (CIIE) currently underway in China's financial hub of Shanghai.
China's initiative to expand imports is not a matter of expediency but a long-term consideration for promoting common development, the president said.
China will further reduce tariffs, improve the level of customs clearance, reduce government-imposed transaction costs for imports, and accelerate the development of new modes of business, such as cross-border e-commerce.
Xi said China has further streamlined the negative list of foreign investment access, reduced investment restrictions and increased the level of investment liberalization.
China is steadily expanding the opening up of the financial industry, deepening the opening up of agriculture, mining and manufacturing, and accelerating the opening up of telecommunications, education, medical care and culture.
He also pledged that China will speed up the introduction of foreign investment regulations and perfect an open and transparent foreign-related legal system, China will respect international business practices and protect the legitimate rights and interests of foreign-funded enterprises, promote the review and administration of intellectual property rights, and introduce a punitive damages system.
China will support the free trade experimental zone to deepen reform and innovation, promptly study and propose the phased construction of a free trade port policy and institutional system in Hainan, he said.
