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SHANGHAI – President Xi Jinping promised Monday to open the growing consumer market in China, in order to defuse the complaints, Beijing is abusing the global trading system. But by opening a major exhibition of importers in Shanghai, he has not responded to US and European complaints about technology policy and restrictions imposed on foreign companies.
The China International Import Expo is part of official efforts to defuse trade tensions while resisting the pressures to roll back industry projects that, according to Washington, Europe, Japan and the United States. other governments are violating its obligations to open markets.
"We sincerely want to open the Chinese market," Xi said in a speech to a prestigious audience, including Russian Prime Minister Dmitry Medvedev. Xi promised to "boost the potential for increased imports", including reducing costs for importers and improving the consumer's purchasing power.
Some 3,600 companies from 152 countries selling everything from Egyptian dates to German factory machines, attend this five-day event in a Shanghai convention center that is one of the world's largest buildings.
Business groups complain that while Beijing is increasing its imports to serve its manufacturers and consumers, it is blocking access to the finance and logistics industries. They say regulators are trying to get their foreign competitors out of promising areas such as information security.
Xi has given "few specific solutions to the concerns of the world of foreign affairs," said Kenneth Jarrett, president of the American Chamber of Commerce in Shanghai, in an email.
Jarrett noted that Xi had promised better protection for foreign patents and other intellectual property rights, which companies complain of being copied or inappropriately used by Chinese competitors. But he added that companies should see the implementation "before knowing if this commitment is real".
Premiers and other senior government officials such as Egypt, Hungary, Pakistan and Vietnam were also present at the fair.
The United States – China's largest trading partner – did not intend to send a high-level envoy.
The exhibition is "probably not a great advantage or attraction for US companies," said the president of the US Chamber of Commerce in China, William Zarit, in an email.
"Many may be present because they think it's politically smart," Zarit said. "However, unless we change some of the current protectionist barriers, it will not change much anyway."
Xi has made no mention of Beijing's fight with President Donald Trump about China's plans for state-led technology development. But referring indirectly to Trump's "America first" policies and threats of import controls, he called on other governments to "jointly protect free trade."
China has cut tariffs and announced other measures this year to boost imports, which rose 15.9 percent in 2017 to reach $ 1.8 trillion. But none of them respond to US complaints that led Trump to impose tariff penalties of up to 25% on Chinese imports of $ 250 billion. Beijing responded with tariff increases of $ 110 billion worth of US goods.
Chinese leaders have rejected pressure to cancel projects such as "Made in China 2025," which advocates the creation by the state of global champions of robotics and other fields.
Last week, Trump and Xi had what the Chinese Foreign Ministry described as an "extremely positive" phone conversation. They plan to meet at the meeting of Argentina's group of 20 leading economists this month, but private sector analysts say it is unlikely that decisive progress will be made.
The struggle added to the challenges of communist leaders trying to sustain economic growth that dropped to a post-global level of 6.5% after a year earlier in the three months ending in September. They are also striving to restore confidence in a stock market that has fallen 25% this year to become the worst-performing country in the world.
Xi acknowledged that some Chinese industries face "growing risks," but said efforts to support growth were already paying off. He said that the Chinese economy, worth $ 12 trillion a year, is "a sea, not a small pond" and can withstand shocks.
"A storm can spill a small pond, but not a sea," he said. "After more than 5,000 years of hardship, China is still here. In the face of the future, China will always be there.
The exhibition is part of Beijing's drive to develop a China-centric trade network and increase its influence in a global system dominated by Western countries.
China is already the No. 1 market for its Asian neighbors and is promoting its multi-billion dollar "Belts and Roads" initiative to expand trade by building ports, railroads and railways. 39 other infrastructure in 65 South Pacific countries, via Asia and Europe.
The fair shows in Beijing that she "is making efforts to increase imports," said Rajiv Biswas, chief economist for Asia at IHS Markit. But it is "unlikely to have much impact" on its politically sensitive trade balance with the United States.
An agreement with Washington "will require significant action by the Chinese authorities to reduce bilateral trade imbalances and protect US intellectual property rights," Biswas said.
Europe, Japan and other trading partners have criticized Trump's tactics, but echo US complaints. European leaders are frustrated by the fact that Beijing prevents foreign acquisitions of most Chinese assets while its own companies face a wave of global buying.
Last week, French and German ambassadors in Beijing called for changes, including ending the requirement for foreign companies to operate in joint ventures with state-owned partners.
The Shanghai exhibition also gives Beijing the opportunity to revive its blazon for global development as a result of complaints "Belt and Road" leaves host countries too indebted, while too little work goes to local businesses.
Governments such as Nepal, Sri Lanka and Thailand have abandoned or curtailed their projects. Kenya and other countries are struggling to repay their Chinese loans.
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