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The head of China's trade delegation, Vice Premier Liu He, says the country will increase imports of American goods and services, as part of efforts to open up the economy. Speaking to the press in the US, Liu also praised the outcome of talks with American officials.
President Xi Jinping's special envoy, Vice Premier Liu, says measures being discussed would help both countries -- boosting China's economy while reducing the trade deficit. Liu says China has a large middle-class and is fast-becoming the world's largest market. The country has been working to increase imports to meet domestic demand and support high-quality development. The world's second-largest economy plans to increase imports from the US and the rest of the world. The inaugural 2018 China international Import Expo in Shanghai in November is a major move.
LIU HE CHINESE VICE PREMIER "China's economic development is turning into high-quality development. Given that, we need to expand the domestic market and increase imports, to fulfill the needs of people, economic growth, and national development. To develop our economy through opening-up has been proved successful in the last four decades. And we will continue down that path in the future."
He also says China will enhance trade cooperation with the US in areas like energy, agriculture, healthcare, high-tech products, and finance.
Liu says any future disagreements on trade must be handled with caution and calmness.