Home / Business / Xi vows to further open China economy amid US trade spat

Xi vows to further open China economy amid US trade spat

FILE PHOTO: US President Donald Trump welcomes Chinese President Xi Jinping at Mar-a-Lago state in Palm Beach, Florida, US, April 6, 2017. Carlos Barria, Reuters

BEIJING – President Xi Jinping vowed on Tuesday to take new steps to open China’s economy amid a broiling trade confrontation with the United States. 

Pledging a “new phase of opening up”, Xi told an economic forum on the southern island of Hainan that Beijing was not seeking a trade surplus.

He said China will take measures to liberalise automobile investment, reduce tariffs on cars this year and protect intellectual property — all areas that have been high on the list of demands by the US.

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