(Nov 5): President Xi Jinping said China would focus more on imports and further lower tariffs in his first opportunity to address global investors since the world’s two largest economies resumed trade talks in September.
“China will give greater importance to imports. We will continue to lower tariffs and institutional transaction costs,” he said in a keynote speech at the start of a trade expo Tuesday morning in Shanghai. He said China was willing to sign high-standard free trade agreements with more countries.
Xi said countries shouldn’t put their own interests above others. “We must all put the common good of humanity first rather than place one’s own interests above the common interests of all,” he said. “Integration of the economy is the order of the day.” He added that China would continue to improve its business environment.