China will boost imports to $22T this decade: President

By Riyaz ul Khaliq

ANKARA (AA) – China aims to increase its imports to $22 trillion in the next 10 years, the country’s president said on Wednesday.

“Big countries need to lead by example, major economies need to act on sound principles, and developing countries need to play an active part in promoting opening up and sharing responsibilities,” Xi Jinping said in his address to the third China International Import Expo (CIIE).

“It is by working together that we will advance common development of our world.”

Xi said that hosting the CIIE, a global trade event, is an expression of China's “sincere desire to share its market opportunities with the world and contribute to global economic recovery.”

He stressed the need for “openness, cooperation and unity for win-win results” and to deal with the uncertainties stemming from the COVID-19 pandemic.

“China expects to import more than $22 trillion of products as an accumulated amount in the next 10 years,” he said.

Xi urged all countries to protect the multilateral trading system, with the World Trade Organization as its cornerstone, and to “improve the rules of global economic governance to build an open world economy.”

“We will steadfastly expand all-round opening up and explore more efficient ways to connect domestic and foreign markets and share factors of production and resources,” he added.