Xi Jinping: China will open its market even further

China will take more measures to further open its market, said Chinese President Xi Jinping on Wednesday in his video speech at the opening of the China International Import Expo (CIIE) in Shanghai.

"We will remain open and cooperative, and build the Chinese market into the world's market, a shared market and everyone's market," Xi said.

Xi announced four sets of measures to reach these goals.

Open the market to a new level

Xi recognized the success of Free Trade Zones (FTZ) in China and will continue to invest in more and better FTZs.

A negative list for cross-border service trade will be introduced to promote transparency.

The digital and network sectors will also continue to open.

Promote innovative development of foreign trade

Cross-border e-commerce will be further supported by the government. The Catalogue of Technologies Prohibited and Restricted from Export will be shortened to allow more cross border tech exchange.

Optimize business environment

The Chinese president promised that the business benefits provided to combat the COVID-19 will be equally shared among all companies registered in the Chinese mainland.

The legal system related to foreign enterprises will be perfected.

In addition, intellectual property rights will be better protected in the country.

Deepen cooperation with countries and organizations

China will make additional efforts to reach free trade agreements (FTA) with more countries and regions, especially the China-EU and China-Japan-South Korea FTAs.

China will also actively participate in existing international cooperation frameworks, including WTO, UN, G20, ASEAN and BRICS.

"We will bring more positive energy to the international society," Xi said.