CIIE is a milestone for China's reform and opening-up

World
Europe

01:32

The European Union Chamber of Commerce in China published its Shanghai Position Paper for this year and 2019 on Friday, evaluating the city’s business environment and providing suggestions on how it can improve.

Carlo D'Andrea, vice president of the Chamber, said that the upcoming China International Import Expo (CIIE) is not just a forum, but a milestone in China's opening-up and reform plan. He expects major announcements by Chinese authorities, with a particular focus on the country's further opening-up.

D'Andrea believes that the expo will reduce trade deficits with some countries, and important deals can be expected to be signed during the event. The inaugural expo is good for trade in the short term, but in order to keep a steady path for economic growth, more structural reforms are needed, he added.

The Chamber vice president also said Shanghai has always been among the leading cities for change in China.

Shanghai authorities released 100 measures over the course of this year, outlining sectors and areas of focus that are getting special attention when it comes to developing the city's economy with overseas markets.