Xi Jinping opens 2nd China International Import Expo

Chinese President Xi Jinping on Tuesday opened the second China International Import Expo (CIIE) in Shanghai.

In a keynote speech delivered during the opening ceremony, Xi extended a warm welcome to all guests, saying he believes all friends could come with pleasure and return with satisfaction.

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

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

Proposals for economic globalization

In his speech, Xi also put forward 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.

Globalization creates opportunities and challenges, Xi said, adding it is important to resolutely oppose protectionism and unilateralism in a bid to jointly build a world economy of openness and cooperation.

Measures to promote opening-up

The door of China's opening-up will only open even wider, Xi stressed, saying China will adopt five measures to promote higher-level opening-up.

China will continue to expand market opening-up and optimize the framework of opening-up, Xi said.

Xi further explained that China will push forward the coordinated development of the Beijing-Tianjin-Hebei region, the development of the Yangtze River Economic Belt, the Yangtze River Delta as well as the building of the Guangdong-Hong Kong-Macao Greater Bay Area.

The country will keep improving its business environment and continue to optimize a market-oriented, law-based and internationalized business environment, he told the guests.

Xi also vowed to deepen multilateral and bilateral cooperation, calling for joint efforts in building the Belt and Road.

Click here for live coverage of this event.