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  November 5th, 2018 | Written by

China International Import Expo Kicks-Off with Tariff Talks

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  • "China’s initiative to expand imports is not a choice of expediency."
  • "The reform of the global governance system and the international order is picking up speed."

The first China International Import Expo gathered 2800 companies from over 130 countries and regions to meet with over 150,000 buyers in Shanghai from Nov 5 to 10, 2018. This event is now anticipated as an annual event that provides success initiatives and strong performance, according to Chinese President Xi.

The conference  kicked-off with China’s president stating that he will cut tariffs and expand China’s economy in a speech today addressing changes to come, including an overall drop in anticipated imports, according to reports.

In his address, he stated he aims to “help friends from around the world to seize opportunities presented by China’s development in the new era and offer a platform for us to deepen international business cooperation for shared prosperity and progress.”

In addition to expanding China’s trade efforts, Xi explained how openness and cooperation are at the center of dynamic international economic trade activities and how the current economic state calls for such actions and cooperation on a global level.

Xi also stated that his goals moving forward include efforts to ” lower tariffs, facilitate customs clearance, reduce institutional costs in import, and step up cross-border e-commerce and other new forms and models of business.”

Creating a world-class business environment from enforcing and respecting international laws and implementing fair practices were mentioned during his address.

“Countries need to improve their business environment by addressing their problems. They should not just point fingers at others to gloss over their own problems. They should not hold a “flashlight” in hand doing nothing but to check out on the weakness of others and not on their own.”

As the expo continues on, nations around the world watch closely for global leaders responses and comments on the speech and how things moving forward will be impacted by Xi’s statements and plans of action.