Xi promises world 'big opportunities' as China's markets open up further

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China’s president has pledged to open the country’s markets further as he reaffirmed his commitment to globalisation ahead of the world’s largest import trade fair, in Shanghai. “We have been offering big opportunities for the world economy by opening up China’s huge market,” Xi said in a televised speech to kick off the fifth edition of the China International Import...

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As many as 3,000 foreign companies will display their latest products and technologies at the 2022 CIIE, up 3.4 per cent from last year, according to organisers. About 90 per cent of the 2,900 exhibitors from last year will return to the show at the National Exhibition and Convention Center in Shanghai’s southwestern Qingpu district from Nov 5 to 10.

Zhang said that more than 20 policies designed to boost the number of deals signed at the CIIE had been enforced in the past four years. They include an exemption on duties imposed on the exhibits, simplified customs procedures and the scrapping of import licences for certain food products. Deals worth US$57.8 billion were signed during the first CIIE in 2018, and this climbed by 23 per cent to US$71 billion the next year.

However, the tough travel curbs are likely to stop some senior international executives from attending. Overseas participants must undergo 10 days of quarantine and multiple tests for Covid-19 before they are accredited.

 

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