Xi pledges to open Chinas markets wider to an impatient world

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President Xi Jinping promised Monday to open China wider to imports at the start of a high-profile trade fair meant to rebrand the country as a global customer, but he offered no response to USA and European complaints about technology policy and curbs on foreign business.

Speaking at the trade expo in Shanghai, Xi pledged to "embrace the world" as China promotes the growing consumer market in the world's second-largest economy.

But he made no mention of complaints that China's plans for state-led development of technology industries and curbs on access to its domestic industries violate its free-trade obligations. The U.S. has recently ramped up its criticism of theft of American companies' intellectual property rights by Chinese companies and state entities and the U.S. Justice Department last week indicted state-owned chipmaker Fujian Jinhua Integrated Circuit Co. He said China's $12 trillion-a-year economy is "a sea, not a small pond" and can withstand shocks.

China would "foster a world-class business environment" and its doors will open "ever wider", he said.

The fight has added to challenges for communist leaders are who trying to shore up economic growth that slumped to a post-global crisis low of 6.5 percent over a year earlier in the three months ending in September.

The event is being attended by several foreign heads of government including Russian Prime Minister Dmitry Medvedev and Pakistani premier Imran Khan.

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Trump has been insisting that China should cut down Dollars 375 billion trade deficit by providing more access to the American goods by ensuring IPR protection.

China and the USA are engaged in a trade war that's seen Washington impose tariffs on $250 billion worth of Chinese goods coming into the US.

While Xi and Trump may take the chance when they meet in Argentina to agree that "let's not escalate things any more for the moment", it would not be able to address these "very deep roots" underlying the trade row, Magnus said.

The group of leaders also visited the Chinese booth that is organized around the country's vision of innovative, coordinated, green, and open development that is for everyone, which showcased the country's achievements since the reform and opening-up and new opportunities brought to the world by the Belt and Road Initiative.

"Overall, favorable conditions are in place for the long-term, healthy and steady growth of the Chinese economy", Xi said. "Facing the future, China will always be here".

This week's event also is part of efforts to develop a trading network centered on China and increase its influence in a Western-dominated global system. But it is "unlikely to have much impact" on its politically sensitive trade balance with the United States.

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Kenyan President Uhuru Kenyatta voiced the foreign impatience when he told the opening ceremony that his country´s growing trade with China was "heavily skewed" in Beijing´s favour.

Europe, Japan and other trading partners have criticized Mr. Trump's tactics but echo US complaints.

On his part, the Chinese leader gave a firm assurance that China will take proactive measures to correct the trade imbalance between Kenya and China.

The US and European Union business lobbies in China, and the French and German ambassadors to Beijing, last week called on China to use the expo to announce concrete change, saying it too often fails to deliver on promises.

Kenya was ranked position 61 overall out of a total of 190 economies and the seventh most improved country globally. Kenya and other nations have run into trouble repaying Chinese loans.

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