Carlo Diego D'Andrea is vice president and Shanghai Chapter chairman of the European Chamber of Commerce in China.
He told VOA, "We were waiting today for President Xi to inform the world about the reform that will take place in the coming days, but what
we wanted to hear, (such as) the complete steps on implementing the
reform and a clear timetable, did not appear."Xi said China would ease
barriers to industries such as financial services, agriculture, mining
and education. He said the nation would increase purchasing of imported
goods and lower tariffs. He also said China would create a better
business environment with a reasonable system of rules, including
punishing intellectual property rights violators.
Xi admitted China could work to better protect intellectual property rights. But he also said those who are not pleased with China’s
behavior should look at their own treatment of such rights, as well.Some
of Xi’s comments appeared to be directed toward the United States and
its leader, President Donald Trump.
Xi promised that China would import as much as $30 trillion in goods and $10 trillion in services during the next 15 years. Last year, China
imported $1.8 trillion in goods and $458 billion in services.Thousands
of foreign companies are taking part in the expo. Some countries, like
Kenya, even have national exhibitions at the event in an effort to win
interest in their products and improve ties. Kenyan President Uhuru
Kenyatta was one of several leaders who, in addition to Xi, spoke at the
opening ceremony Monday.
Kenyatta noted how China is his nation's biggest trading partner. In fact, trade between the two countries grew from $471 million in 2007 to
$4 billion in 2017.
Kenyatta said, "This trade, however, was skewed heavily in favor of China…It is important therefore to correct the trade imbalance and
enable a fairer share of trade."
Xi praised Shanghai as a center for technology and invention. China wants Shanghai to be one of the world's leading international financial
centers by 2020.
China remains one of the world's most protectionist economies. The Organization for Economic Cooperation and Development ranks China 59 out
of 62 countries in terms of openness for foreign direct investment.
D'Andrea said the expo will help countries reduce their trade deficits with China. But, he added, it will not change China’s reform
deficit. VOA News reported this story. Caty Weaver adapted it for VOA
Learning English. Ashley Thompson was the editor.
