Shanghai: On Tuesday, Chinese Premier Li Qiang promised to increase opening up and transform China’s enormous market into a global opportunity.
Li remarked while giving the keynote address at the Hongqiao International Economic Forum and the seventh China International Import Expo (CIIE) opening ceremony in Shanghai.
“China’s solemn commitment to the world is reflected in the hosting of the CIIE, which is an important step to expand opening up and cooperation,” Li stated.
If the first CIIE was a one-way invitation from China to the globe, then every edition has evolved into a commitment between China and the world, representing the two countries’ shared desire for cooperation and opening up, the premier stated.
Li stressed the need to strengthen consensus on opening up, adding that all parties should jointly adhere to international economic and trade orders and rules and earnestly fulfill multilateral and bilateral economic and trade agreements.
Also read: China and Pakistani Companies Sign $40 Million Deals
“China will actively align with high-standard international economic and trade rules and further expand institutional opening up,” Li said, promising to work on upgrading pilot free trade zones.
According to Li, the nation is ready to execute unilateral opening up and provide zero-tariff treatment for all tariff lines from the least developed countries to expand its massive market and transform it into a giant global opportunity.
Li said, “China firmly protects the multilateral trading system with the World Trade Organization at its core and supports developing countries in sharing more benefits of globalization.”
He said China is prepared to lead the investigation into the execution of the Investment Facilitation for Development Agreement, continue close coordination and collaboration with all parties in international economic institutions, and contribute to the emergence of an open global economy.
The premier said, “The fundamentals of the Chinese economy remain sound, and the Chinese government is capable of promoting steady economic growth and contributing more in global development and the welfare of humanity.”
Also read: Pakistan and China Boost Business Ties with Upcoming B2B Road Shows
The presidents of international organizations and foreign leaders said in their addresses that the CIIE has developed into a significant global platform for advancing investment and trade as well as opening up and collaboration.
They reaffirmed their faith in the Chinese economy and its future, and they said they were willing to work with China to further cooperation in areas like the economy, trade, connectivity, and green development, promote equality, progress, and sustainable development globally, and jointly build the Belt and Road.
