English English

By Yin Lei

China's import exposition to be held next month will present new opportunities to the world and drive China's economy in its steady, high quality development in the long term, said a report of Xinhua News Agency on Wednesday.

From Nov. 5 to Nov 10, the seven-day China International Import Expo will be held in Shanghai, the first exhibition ever hosted by a country that focuses on boosting imports. This inclusive event will see businesses from 100 nations across the world, including those from 30 least developed countries, which will gather in Shanghai to meet customers, join discussions, and launch new products.

This exhibition, together with China's four cuts to tariffs this year, sends a positive and clear sign of the country's policy to increase imports.

In 2018, China has taken a series of moves that will cut China's general tariff level from 9.8 percent in 2017 down to 7.5 percent. In May and July, it had already canceled or reduced tariffs on imported medicines, car parts and some daily consumer goods. Starting from next month, it will lower the most-favored nation tariffs on 1,585 taxable items crossing its border.

Experts said this upcoming grand event, while benefiting the world, is also good for China. It will help satisfy Chinese consumer's desire for high-quality life, offer opportunities to turn inbound trade to inbound investments, and facilitate exchanges and cooperation among enterprises.

Against the rising trade protectionism, China's import exposition manifests its consistent stance on advancing mutually beneficial, win-win opening-up and safeguarding free trade, according to Bai Ming, a researcher with the Chinese Academy of International Trade and Economic Cooperation.