China has a population of 1.4 billion. Its middle-income population is the biggest in the world. The huge Chinese market points to a potential that is simply unlimited. The Chinese people often say, "The world is a big place, and I want to see just more of it." What I want to say to you today is that the Chinese market is such a big one that you should all come and see what it has to offer. China will adhere to its fundamental state policy of opening-up and stay committed to opening-up to promote reform, development and innovation. This will bring about opening-up at an even higher level.

China will better leverage the fundamental role of domestic consumption in economic development and foster a more robust domestic market to boost growth at home and create more room for global growth. China will give greater importance to import. We will 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. We will take steps to promote balanced development of both imports and exports, of trade in goods and services, of two-way trade and investment, and of trade and industry. This way, we will ensure a free yet orderly flow of both international and domestic factors of production, improve the efficient allocation of resources, and deepen integration of markets.

(Source: Extract from Xi Jinping's keynote speech at the opening ceremony of the 2nd China International Import Expo in Shanghai, east China, November 5, 2019.)

This episode is presented by Zheng Junfeng.