Xi vows to further open China economy amid US trade spat

Beijing (AFP) – 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.