China pledges to expand market access at annual trade fair amid foreign criticism
By Brenda Goh
SHANGHAI, China (Reuters) -China will further expand market access and increase imports, its premier told a trade fair in Shanghai on Sunday, amid criticism from European firms who said they wanted to see more tangible improvement in the country's business environment.
Li Qiang told the opening ceremony of the annual China International Import Expo that the country was committed to opening up its economy, and that imports of goods and services were set to reach a cumulative $17 trillion within the next five years.
«No matter how the world changes, China's pace of opening up will never stall, and its determination to share development opportunities with the world will never change,» Li said.
China will promote coordinated development of trade in goods and services, protect an international business environment, and relax market access including lifting restrictions on foreign investment in manufacturing, he said.
The import expo was launched by President Xi Jinping in 2018 to promote China's free trade credentials and counter criticism of its trade surplus with many countries. However, participation in the past three years was curtailed by the COVID-19 pandemic.
This year's event drew criticism from the European Chamber of Commerce in China on Friday, which branded it a «political showcase» and urged authorities to enact more tangible measures to restore confidence in the country among European businesses.
China's imports have slumped this year amid a slowdown in the world's second largest economy, although data released last month indicated that the downtrend could be starting to ease.
Li in his speech cited examples of businesses that had benefited from the show — including an Afghan carpet maker and
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