Xi Jinping wants more imports and foreign investment
The Chinese president said that foreign firms should be able to benefit from the same treatment as Chinese companies. At the World Economic Forum in Davos, Xi stood as a defender of free trade and globalisation against Donald Trump's protectionism, but foreign companies operating in China complain of obstacles they face to do business in that country.
Beijing (AsiaNews/Agencies) – Chinese President Xi Jinping has called for more imports and foreign investment during speech to delegates to a committee on financial and economic affairs.
Xi called for "expanding imports while stabilising exports", the China Daily said. He also urged “measures to liberalise trade and simplify import procedures while reducing tariffs on certain consumer products.”
Beijing announced a US$ 42.7 billion trade surplus in June. Imports increased 17.2per cent whilst exports rose 11.3per cent on an annual basis.
The large US trade deficit with China was a major issue for Trump during last year's presidential campaign, when he claimed Beijing had "stolen" millions of jobs from Americans.
At the World Economic Forum in Davos, Switzerland, at the start of the year, the Chinese president stood out as a defender of free trade and globalisation in the face of Trump's protectionist rhetoric.
However, foreign firms in China have long pointed out the obstacles to doing business in the country.
Now for Xi, "national treatment in laws and policies should be granted to foreign-funded companies after they enter the market.”
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