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An Indian delegation led by the US Secretary of Commerce, Anup Wadhawan, participates in the first international exhibition on China's international import inaugurated in the eastern metropolis of Shanghai.
A total of 81 countries attend the fair and hope to gain access to China's tightly closed import market. China, the world's largest exporter, plans to become a major importer.
It is estimated that goods and services imported from China will exceed 30 billion US dollars and 10 billion US dollars over the next 15 years, said Xi in an inaugural address, reported by the news agency Xinhua official.
"India has built a pavilion at the show that highlights its areas of activity: agricultural products, pharmaceuticals, information technology and tourism," said Prashant Lokhande, economic adviser and trade of the Embbady of India to India.
Pakistani Prime Minister Imran Khan was one of the leaders of the countries who took part in the inaugural ceremony of the Expo.
Xi said the measures announced in April to ease access to the Chinese market had so far been implemented.
China further simplified the negative list of foreign investment, reduced investment limits and raised the level of free investment.
China is taking aggressive action to expand its financial openness, continue to make progress in the services sector, deepen its openness in the sectors of agriculture, extractive industries and manufacturing and accelerate the process of 39 opening up sectors such as telecommunications and education. , medical treatment and culture, said Xi.
He said that there was every reason to be totally confident in the future of the Chinese economy, which has slowed in recent years.
At present, China's economy remains broadly stable and improving, Xi said, citing data including 6.7 percent GDP growth in the first three quarters of 2018.
"The Chinese economy really works within reasonable limits, which gives us a solid foundation for achieving development goals for the entire year," Xi said.
Compared to other major economies, China still ranks first in the world in terms of GDP growth, he said.
The foundations for sound and stable economic growth remain unchanged, the factors of production necessary for quality development remain unchanged, and the overall dynamics of stability and long-term economic progress also remain unchanged, said Xi.
China's capacity for macroeconomic regulation is increasing, and efforts to deepen reform in all areas have triggered new growth drivers, he added.
With the implementation of the Belts and Roads Initiative (BIS), bilateral investment and trade between China and countries along the Belt and Roads continued to accelerate Xi said.
"Overall, favorable conditions for the long-term, healthy and stable growth of the Chinese economy are met," said Xi.
This is the first international exhibition of imports from China. All major countries in the world, including the United States, have a mbadive trade deficit with China, the world's largest exporter.
In June, US President Donald Trump launched a trade war with China by imposing additional tariffs on imports of US $ 250 billion.
Trump urged China to reduce its $ 375 billion trade deficit by providing better access to US products by protecting intellectual property rights.
India also pressured China to take action to reduce the annual trade deficit by more than 51 billion USD, which was one of the main areas of the informal meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping in Wuhan in April.
Since then, officials from both countries have spoken several times to have India export its agricultural products such as sugar and rice, as well as its pharmaceuticals and information technologies. in which the country has the upper hand on world exports.
Although the exhibition, to be held until November 10, has attracted a lot of interest for the global industry, China has not yet liberalized its import market, officials said.
This is the world's first exhibition on the subject of imports, with an area of about 30, 000 square meters. It will include business and commercial exhibitions, country pavilions for trade and investment.
Twelve countries – South Africa, Brazil, Canada, Egypt, Germany, Hungary, Indonesia, Mexico, Pakistan, Russia, Russia and the United Kingdom – will be the "guests of honor" of the great economic event.
More than 3,000 companies from more than 130 countries have confirmed their participation in trade fairs and companies of the fair, with a total area of 270,000 square meters, said China Daily China Daily.
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