The President of China, Xi Jinping has called for an increase in imports and fewer restrictions for foreign investors. China is coming under pressure from the US and Europe to provide better access for overseas companies in the country.
Donald Trump has criticised China’s massive trade surplus while the European Union and companies in America have complained about a lack of access to the huge market in China.
Speaking to a Communist Party committee on financial and economic affairs, Xi called for “expanding imports while stabilizing exports,” state-run media have reported.
The government in China is trying to change the economy from a reliance on exports and state investment to an economy driven by domestic demand.
Xi also said that “an open economy” with fewer restrictions for foreign companies will serve to “promote balance of payment under the current account,” according to the China Daily.