To fulfill its commitment to expand imports, China has hosted two import expos in succession in Shanghai, where thousands of products made their debut to woo China's swelling middle class.
"China's opening-up moves such as hosting the import expo inject great impetus to the world economy amid worldwide economic uncertainties," said David Liao, president and CEO of HSBC Bank (China) Company Limited.
To further open up its market, China has unveiled a series of measures over the past few years, including a shortened negative list for foreign investment, enhanced protection of intellectual property rights and improved business environment.
The country also pledged to continue to lower tariffs and institutional transaction costs, develop demonstration zones to promote import trade by creative means, and import more high-quality goods and services from around the world.
"A new round of opening-up measures will result in massive investment and consumption opportunities. The Chinese market's potential has not yet been fully tapped by multinationals," Liao noted.
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