China will implement measures in further opening up its market, Chinese President Xi Jinping said at the opening ceremony of the second China International Import Expo (CIIE) in Shanghai on Tuesday.

The scale and potential of the Chinese market is huge, not only because China has nearly 1.4 billion people but also because its mid-income population is the largest in the world. Xi said that China welcomes global business to its market.

China will strengthen domestic consumption as the basis of supporting economic growth. The country will pay more attention to the role of imports, further reduce tariffs and institutional costs, foster a number of import innovation demonstration zones, and expand imports of high-quality products and services.

China will also promote trade in goods and services, two-way investment, balanced development in trade and industry, and also the free flow of resources and the deep integration of the market.

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