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China pledges to expand market access at annual trade fair amid foreign criticism

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SHANGHAI, China - China will further expand market access and increase imports, its premier told a trade fair in Shanghai on Sunday, amid criticism from European firms who said they wanted to see more tangible improvement in the country's business environment.

Li Qiang told the opening ceremony of the annual China International Import Expo that the country was committed to opening up its economy, and that imports of goods and services were set to reach a cumulative $17 trillion within the next five years.

The import expo was launched by President Xi Jinping in 2018 to promote China's free trade credentials and counter criticism of its trade surplus with many countries. However, participation in the past three years was curtailed by the Covid-19 pandemic. Li in his speech cited examples of businesses that had benefited from the show - including an Afghan carpet maker and Japanese pharmaceutical firm, though without identifying them - and said out of the roughly 3,400 companies participating this year, over 200 had been repeat attendees for the past six years.

 

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