Trade Barriers and Reforms at the CIIE

Chinese Premier Li Qiang addressed trade restrictions at the China International Import Expo, highlighting barriers in global business and China's role in reforming trade rules. The expo, aimed at showcasing China's commitment to free trade, faces challenges with growing trade surpluses and tensions abroad.

At the China International Import Expo (CIIE) in Shanghai, Premier Li Qiang highlighted the detrimental impact of trade restrictions on global business operations. He pledged that China would actively work towards reforming the global economic and trading system to ensure more equitable and transparent trade practices.

Launched by President Xi Jinping in 2018, the CIIE serves as China's platform to showcase its commitment to free trade. Despite its continued trade surpluses, China's subdued import growth contributes to global trade tensions and domestic deflationary pressure, according to economists.

With China's trade surplus predicted to surpass last year's $1 trillion record, Premier Li underscored the urgency of improving global trade governance. As trade discussions between Xi and U.S. President Donald Trump lead to tariff reductions, this year's CIIE hosts over 4,100 overseas enterprises, maintaining U.S. companies' record exhibition presence.

(With inputs from agencies.)