China holds 1st expo for imports amid trade war with US

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The leading pharmaceutical company has put its virtual reality technologies on show at the first China International Import Expo in Shanghai.

Inaugurating the first China International Import Expo in Shanghai in which India along with 172 other countries, regions and international organisations took part, Xi, in a thinly veiled attack on President Donald Trump, called for staunch opposition to protectionism and unilateralism.

China's President Xi Jingping has pledged to "step up" access to his country's economy as the trade war with the United States rumbles on.

China has a massive trade deficit with nearly every country in the world, with the value of its exports far exceeding the value of its imports.

Participation of over 200 businessmen has become a regular feature in the Kunming and Chengdu fair, held in different locations of China every year through the FIEO.

Microsoft founder Bill Gates (right) with World Bank President Jim Yong Kim at the 1st China International Import Expo in Shanghai, Monday.

Uhuru said that a more balanced trade between China and Africa would help fight the propaganda that the Asian giant was taking advantage of poor countries.

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.

With the Belt and Road Initiative (BRI) being further implemented, two-way investment and trade between China and countries along the Belt and Road have continued to gather pace, Xi said.

Amid a trade war with the US, President Xi Jinping on Monday urged the global community to oppose protectionism as he vowed to step-up China's imports of goods and services to over United States dollars 40 trillion in the next 15 years. "Instead they would only exacerbate global market turbulence".

Inter's Chinese fans will also be in for a treat with club legend and current vice-president Javier Zanetti to attend on November 8 and 9.

The trade war saw U.S. crude oil shipments to China stop completely in October, and China slapped a 10% tariff on LNG in September.

Xi said China would ease barriers to industries such as financial services, agriculture, mining and education.

"It is our honest commitment to open the Chinese market", Xi said in an address opening the event in Shanghai.

Bridging suppliers from all across the world with more than 160,000 buyers from over 80,000 domestic as well as foreign companies, the expo will substantially reduce the information and institutional costs for trade and deliver tangible deals and benefits for foreign firms. "As incomes are rising in China, consumers want faster access to and a wider variety of high-quality products from around the world", said Alvin Liu, General Manager of Tmall Import and Export.

China ranks 59th out of the 62 countries evaluated by the Organization for Economic Cooperation and Development in terms of openness to foreign direct investment.

China's capacity of macroeconomic regulation is growing, and efforts to deepen reform across the board have unleashed new drivers of growth, he added.

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