Xi Jinping "Promoting High-Level Opening-Up and Inclusive Economic Globalization"

Opening of the Shanghai International Import Expo

The Chinese government has announced its intention to increase market accessibility to the international community. According to Reuters on the 5th, Premier Li Chang of China stated in his opening speech at the 6th International Import Expo held in Shanghai that "we will actively expand imports and promote the coordination of goods and services trade," and "we will further expand market accessibility and remove barriers to foreign investment in manufacturing." He also mentioned that a plan to promote a high level of institutional openness in the Shanghai Free Trade Zone will be announced soon. Premier Li predicted that China's cumulative imports of goods and services will reach $17 trillion (approximately 22,300 trillion KRW) within the next five years.

China International Import Expo Center

According to China Central Television (CCTV), President Xi Jinping also emphasized in a letter at the event that "currently, the global economy lacks momentum for recovery, so countries must cooperate amid difficulties and seek common development," and "China will be an important opportunity for global development, will promote a high level of openness, and will pursue a more open and inclusive economic globalization."

The International Import Expo is an event initiated by the Chinese government since 2018 to promote external openness and expand imports. This year's event, held until the 10th, was attended by Australian Prime Minister Anthony Albanese, Cuban Prime Minister Manuel Marrero, Greek Prime Minister Kyriakos Mitsotakis, among others, with over 3,400 companies from more than 130 countries participating. Domestically, a total of 212 companies participated under the auspices of the Korea International Trade Association and the Korea Agro-Fisheries & Food Trade Corporation.