China vows continued commitment to opening economy, expanding imports at trade fair
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China's Premier Li Qiang said at a trade fair that China will continue expanding market access and increase imports. He stated China's commitment to opening its economy.
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Li said China aims to reach $17 trillion in cumulative imports of goods and services in the next 5 years. He said China will relax market access including lifting investment restrictions.
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The annual China International Import Expo was launched in 2018 to promote China's free trade image amid criticism of its trade surplus.
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Participation in the past years was limited by COVID-19. The European Chamber of Commerce recently called it a "political showcase" and wants more tangible business environment improvements.
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Around 3,400 companies are participating this year including repeat attendees. Countries like Australia and the U.S. sent large delegations. Deals worth $73 billion were signed last year.