President Xi vows again to open up China and ease promise fatigue

The China International Import Expo, slated to be held annually will run for six days from Nov 5 to 10

The China International Import Expo, slated to be held annually will run for six days from Nov 5 to 10

The Chinese president said China would push forward multilateral and bilateral cooperation in pursuit of development.

"CIIE is not a market-oriented event in nature and if the Chinese government is bent on importing more products, someone has to pay the bill", said Pang Zhongying, an worldwide relations professor from Macau University of Science and Technology.

While in China, President Uhuru is expected to sign a horticulture trade deal which will allow Kenya to export fresh produce such as avocados, cashew nuts and mangoes to China.

China is under pressure from Trump and elsewhere to wind back its $423 billion goods trade surplus with the world, and Xi has already pledged that the country will import $24 trillion dollars of goods from overseas over the next decade and a half. "Kenya has one of the most conducive business environments in Africa", the President added.

President Kenyatta also met officials of Cherami China-Africa Investment Management, a firm that plans to construct a cancer treatment centre in Kenya, in partnership with the University of Nairobi.

Xi said China would seek to "step up" moves to stimulate domestic consumption of imports, lower tariffs, ease customs clearance procedures, and implement harsh punishments for intellectual property infringements, among other measures.

He also made it crystal clear that China will always be an advocate for worldwide cooperation.

Most reactions urge against taking more Chinese loans.

In a speech that largely echoed previous promises, Xi said China would accelerate opening of the education, telecommunications and cultural sectors, while protecting foreign companies' interests and enhancing punitive enforcement for infractions of intellectual property rights.

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President Kenyatta said the trade fair, which will be held on an annual basis, is an effective platform for correcting the trade imbalance between Kenya and China.

Xi's idea of holding an import expo to solve trade frictions in many ways epitomizes the gap between China's policies and the expectations of the outside world.

He noted that Kenya's ties with China started in the old days of the Silk Road and the renewed relationship is reawakening old friendships. Of G-20 countries, only Russian Federation is sending a head of state or government.

On his part, President Xi said the expo is part of China's deliberate attempt to share its wealth with the rest of the world through opening access to its vast market.

In Shanghai, many firms have been trying to increase sales in the Chinese market with a population of 1.4 billion.

Xi has said the expo proves China is willing to reduce its huge trade surpluses with other countries, but it is not known whether he will unveil new trade or liberalisation initiatives in Shanghai.

The Chinese leader said China will lead the fight for open markets even as some big economies exhibit isolationist and protectionist tendencies.

The event, which has a United Kingdom delegation led by the trade secretary Liam Fox, is aimed at bolstering access to China for foreign firms but has been overshadowed by the trade spat with Donald Trump.

He also said he expects China to import $30 trillion worth of goods and $10 trillion worth of services in the next 15 years.

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