China vows at trade fair to enhance market access as economy slumps

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Chinese Premier Li Qiang vowed to enhance market access and attract more foreign investment, as the world's second-largest economy has been slumping amid a property sector crisis.

SHANGHAI — Chinese Premier Li Qiang vowed Sunday to enhance market access and attract more foreign investment, as the world's second-largest economy has been slumping amid a property sector crisis, while its worsening business environment has dampened sentiment among many overseas companies.

Xi's message was read out by Vice Premier He Lifeng at the start of the sixth annual China International Import Expo. More than 3,400 companies from 128 countries and regions participated in the trade fair, which will be held until Friday. In a sign of improving bilateral relations that became strained during the government of Albanese's predecessor Scott Morrison, China, which is Australia's largest trading partner, lifted its import restrictions on the country's coal and barley and has been reviewing tariffs imposed on imports of its wine.

From Japan, companies such as Panasonic Holdings Corp., cosmetics maker Shiseido Co. and the Uniqlo clothing chain operator Fast Retailing Co. joined the event. The government-linked Japan External Trade Organization exhibited over 650 items from some 150 Japanese companies, including those related to camping and winter sports, as well as Japanese sake and confectionery goods, to help the firms expand their sales channels in China.

 

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