Business and economic minds on Chinese economy

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01:43

On the occasion of the very first China International Import Expo, two business leaders and economic minds share their views on the expo and President Xi Jinping's keynote speech Monday morning.

Lei Jun, Xiaomi's CEO, said that tech companies are excited about President Xi's announcement that the Shanghai Stock Exchange will have a high tech board and pilot a registration system.

“I think the China International Import Expo (CIIE) in Shanghai brings opportunities to China and countries all over the world,” Lei added, “It could be considered as a historic event for China to further open up and expand domestic demand.”

Speaking of President Xi's speech, Zhu Min, former IMF Deputy Managing Director, said that Xi's announcement this morning on further opening up is historic.

Zhu also added that the Trump administration is using the wrong weapon to fight the wrong war.

“The wrong war is trade war, the wrong tool is the tariff. Tariffs would harm domestic resource allocation and labor productivity”, said Zhu.