Xi, from China, promises the opening of the market at the start of the import fair
Xi, from China, promises the opening of the market at the start of the import fair
President Xi Jinping promised on Monday to open China More broadly to imports when it opened a high-profile trade fair aimed at changing the name of the country as a global customer. But it offered no response to US and European complaints about technology policies and restrictions on foreign companies.
The China International Import Expo is part of official efforts to defuse commercial tension while resisting the pressure to reverse the industry's plans that Washington, Europe, Japan and other governments say they violate their market opening obligations.
"It is our sincere commitment to open the Chinese market," Xi said in a speech to a VIP audience that included Russian Prime Minister Dmitry Medvedev. Xi promised to "stimulate the potential to increase imports," including reducing costs for importers and improving the purchasing power of consumers.
Some 3,600 companies from 152 countries that sell from dates in Egypt to German factory machinery attend the five-day event at a Shanghai convention center that is considered one of the largest buildings in the world.
The Xi government is emphasizing the promise of China's growing consumer market to help resolve complaints. Beijing abuses the global trade system by giving up promises to open its industries.
Business groups complain that while Beijing is expanding imports to serve its manufacturers and consumers, it blocks access to industries such as finance and logistics. They say that regulators are trying to squeeze out foreign competitors from promising fields such as information security.
Prime ministers and other senior government officials, including Egypt, Pakistan and Vietnam, also attend the fair.
The United States, China's largest trading partner, had no plans to send a high-level envoy.
The exhibition "is probably not a great benefit or attraction for American companies," US President of the Chamber of Commerce in China William Zarit said in an email.
"Many can attend because they think it is politically intelligent," said Zarit. "However, unless some of the protectionist trade barriers currently in place are changed, there will not be much difference in any way."
Xi did not mention Beijing's fight with President Donald Trump over Chinese plans for the development of state-run technology industries. But in an indirect reference to the policies and threats of import control of Trump's "America first," he called on other governments to "jointly safeguard free trade."
China has cut tariffs and announced other measures this year to boost imports, which increased 15.9 percent in 2017 to $ 1.8 trillion. But none addresses the US complaints that prompted Trump to impose tariffs of up to 25 percent on Chinese imports of $ 2.5 billion. Beijing has responded with tariff increases in $ 110 billion of US products.
Chinese leaders have rejected the pressure to reverse plans such as "Made in China 2025," which calls for state-led creation of world champions in robotics and other fields. Some US officials worry that this may erode the industrial leadership of the United States.
Last week, Trump and Xi had what the Chinese Foreign Ministry called an "extremely positive" telephone conversation. They plan to meet this month during the meeting of the Group of 20 leading economists in Argentina, but private sector analysts say it is unlikely that there is an advance.
The struggle has added to the challenges for the communist leaders: those who try to prop up the economic growth that plummeted at an annual rate post global crisis of 6.5 percent in the three months ending in September. They are also struggling to rekindle confidence in a stock market that has plummeted 25 percent this year to become the worst performance in the world.
Xi acknowledged that some Chinese industries face "increasing risks," but said efforts to prop up growth are already paying off.
"The fundamentals for a solid and stable growth of the Chinese economy remain unchanged," he said.
The exhibition fits in with Beijing's quest to develop a commercial network centered on China and increase its influence in a global system dominated by the West.
China is already the No. 1 market for its Asian neighbors and is promoting its multi-million dollar "Belt and Road" initiative to expand trade by building ports, railroads and other infrastructure in 65 countries from the South Pacific through Asia to Europe and Africa.
The fair allows Beijing to demonstrate that it is "making efforts to increase imports," said Rajiv Biswas, chief Asia economist at IHS Markit. But it is "unlikely to have much impact" on its politically sensitive trade balance with the United States.
An agreement between the United States and China "will require significant steps by the Chinese authorities to reduce bilateral trade imbalances and protect the intellectual property rights of the United States," Biswas said.
Europe, Japan and other business partners have criticized Trump's tactics, but echo the complaints of the United States. European leaders are frustrated that Beijing bans foreign acquisitions of most Chinese assets, while its own companies are on a global shopping spree.
Last week, the ambassadors of France and Germany in Beijing called for changes that include the end of requirements for foreign companies to operate joint ventures with state partners. Writing in a Chinese business magazine, they asked for a review of the rules that say they prevent companies from benefiting and protecting their technology.
The Shanghai exhibition also gives Beijing the opportunity to repair its image as positive for global development after complaints "Belt and Road" leaves host countries with too much debt, while very little work goes to local companies .
Governments such as Nepal, Sri Lanka and Thailand have rejected or reduced projects. Kenya and other nations have had problems paying for Chinese loans.
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