President Xi Jinping vowed on Monday to open access to China's economy, while delivering a veiled rebuke to the Trump administration, as he kicked off an import fair amid growing foreign accusations that his government was backtracking on reform pledges.
At present, China's economy remains generally stable and is making good progress, Xi said, citing data including the GDP growth of 6.7 per cent in the first three quarters of 2018.
President Xi claimed that the country will buy goods worth over $30 trillion from other countries over the next 15 years, and said the country was committed to globalisation.
"It is our honest commitment to open the Chinese market", Xi said in a speech to a VIP audience that included Russian Prime Minister Dmitry Medvedev.
But he was light on specifics and provided no timelines.
On Monday, Ma also stated that manufacturing was no longer creating jobs in China, pointing to the rise of services that will help create employment.
Carlo Diego D'Andrea is vice president and Shanghai Chapter chairman of the European Chamber of Commerce in China.
"What matters to us is that concrete actions are forthcoming and that reforms are clearly timetabled".
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"We believe that (the expo) will bring real opportunities for investment and trade cooperation between Egypt and China", Madbouly said.
Ma, China's richest man with a net worth of almost US$38 billion, is an outspoken critic of the trade dispute between China and the U.S. that has seen both sides slap billions of dollars worth of tariffs on each other's goods.
Importantly, while Xi promised to cut import tariffs-a plan his government already unveiled back in September-he did not provide any indication of giving way on the issues that have led the U.S.to impose massive tariffs on Chinese imports.
Foreign businesses have complained about a range of preferential polices that benefit Chinese firms, requirements that foreign companies form joint ventures with Chinese partners, forced technology transfers, rampant intellectual property violations and various restrictive red tape measures.
"The Chinese side is ready to have discussions with the US on issues of mutual concern and work for a solution on trade acceptable to both sides", Wang told the forum, making it clear, however, that China will hold its ground and will not agree to a disadvantageous deal.
He said we need to implement 2030 sustainable development goals and reduce imbalances in the development.
China ranks 59th out of 62 countries on openness to foreign direct investment, according to an Organization for Economic Cooperation and Development ranking.
Indian pavilion at the expo showcased country's strong areas like Food and Agro Products, Pharmaceuticals, IT and IT Enabled Services (ITES), Tourism and Services Sectors to gain market access to China, an Indian Embassy press release here said.
Although the event was meant to gather foreign companies to woo Chinese consumers, global brands from Adidas to Wal-Mart, Procter & Gamble to Uniqlo, were sending only country heads - or no senior executives at all.