Chinese president calls for fewer restrictions on foreign investors
Beijing — Chinese President Xi Jinping has called for an increase in imports and fewer restrictions for foreign investors as Beijing comes under pressure from the US and Europe to provide a more level playing field for companies in the country. Donald Trump has railed against China’s huge trade surplus while the EU and US companies have complained about a lack of access to the huge market. Speaking to a Communist Party committee on financial and economic affairs, Xi called for "expanding imports while stabilising exports", state-run media reported on Tuesday. China’s leaders are trying to transform the economy from a reliance on exports and state investment to one driven by domestic demand, although that has led to a slowdown in growth to 26-year lows. Xi also said "an open economy" with fewer restrictions to foreign access would serve to "promote balance of payment under the current account", according to the China Daily. The large US trade deficit with China was a major talking po...
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