(Michael Smith – Australian Financial Review)
China’s president Xi Jinping has sought to defuse trade tensions with the United States by promising to lower import tariffs on vehicles, strengthen intellectual property protection and relax foreign ownership restrictions.
Unveiling a four-point plan he said would usher in the next phase of China’s “opening-up”, Mr Xi promised China would make good on previous commitments to modernise its economic system, broaden market access and increase imports.
However, many of the policy measures aimed at relaxing China’s tough foreign investment rules and encouraging more imports were flagged last year and did not contain a lot of new detail. Click here to read more.
- China to Further Deepen Reforms, Protect Global Free Trade: Premier (Reuters)
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- Xi’s Commitment to Free Trade Buoys Markets (Reuters)