China reaffirms commitment to supporting free trade and establishing future-oriented international trade rules
BEIJING, Oct 14 (KUNA) -- China reaffirmed on Wednesday its commitment to safeguarding multilateralism, supporting free trade, and reforming the World Trade Organization to jointly establish future-oriented international trade rules and promote inclusive economic globalization.
Translated by Qiyas from كونا — Original source
Beijing, Oct 14 (KUNA) -- China reaffirmed on Wednesday its commitment to safeguarding multilateralism, supporting free trade, and reforming the World Trade Organization, in order to work together to establish future-oriented, rules-based trade frameworks and to promote inclusive and beneficial economic globalization. This was stated in a speech delivered by Chinese Premier Li Qiang at the opening ceremony of the 140th session of the China Import and Export Fair, also known as the Canton Fair, which is being held in Guangzhou and will run until November 4.
Xinhua News Agency quoted Li Qiang as saying that market interconnectivity is not a tool for conflict but an effective means of achieving growth, and he reaffirmed China’s commitment to further integrate its domestic market with international markets to build an open global economy. He emphasized that mutual benefit and win-win outcomes do not entail one-sided concessions, expressing China’s readiness to import more high value-added products and its hope that countries around the world would ease restrictions and take positive measures to achieve balanced trade development.
He pledged to expand high-level opening-up, share development opportunities, and boost domestic demand, while continuing to lower thresholds for accessing the Chinese market, thereby providing additional momentum for global economic growth, and welcomed foreign investment.
In a congratulatory message, Chinese President Xi Jinping noted that the Canton Fair has played an important role in promoting foreign trade over the past seven decades, and expressed Beijing’s desire to join hands with countries worldwide to protect the multilateral trading system and ensure the stability of global industrial and supply chains.
The current edition of the Canton Fair is being held in three phases and features exhibits including electronics, home appliances, new energy vehicles, service robots, clothing, and food. Organizers estimate that more than 30,000 companies and approximately 340,000 foreign buyers will participate. (End) S L Q / M A A
