On November 5, 2018, the first China International Import Expo kicked off in Shanghai, China. President Xi Jinping attended the opening ceremony and delivered a keynote speech.

Xi Jinping: China will further reduce tariffs, improve customs clearance facilitation, reduce institutional costs in the import link, and accelerate the development of new business models and models such as cross-border e-commerce. China has a large market with a population of more than 1.3 billion. China sincerely opens its market to other countries. The China International Import Expo not only needs to be held year after year, but also needs to be run at a level, effective, and better.

Xi Jinping: The measures to relax market access that I announced in April have basically been implemented. China has further streamlined the negative list of foreign investment access, reduced investment restrictions, and increased the level of investment liberalization. China is steadily expanding the opening up of the financial industry, continuing to promote the opening up of the service industry, deepening the opening up of agriculture, mining, and manufacturing, and accelerating the process of opening up in telecommunications, education, medical care, and culture, especially for foreign investors who have a large domestic market gap. Education, medical and other fields will also relax restrictions on foreign ownership. It is estimated that in the next 15 years, China's imports of goods and services will exceed US$30 trillion and US$10 trillion, respectively.

Reposted from The Paper