Economic Affairs

China's 'new phase of opening up' is credible

Pressure from trade partners aside, liberalising is also in Beijing's interest

For all of last week, China held its first import fair, called the China International Import Expo (CIIE), in Shanghai. In previous years, it was a trade expo - the word "import" was never mentioned. But, from now, the CIIE is to be an annual event.

Some 3,600 companies from 172 countries took part. On display were wares from all over the world, including flying cars from a company called AeroMobile in Slovakia, helicopters from Italian aerospace company Leonardo, the world's smallest pacemaker from US medtech firm Medtronic, eco-friendly vehicles from Finland, diamond-studded high-heeled shoes by designer Jimmy Choo, exotic coffees from Kenya and, from a Singapore company named Westcom Technology, bio-toilets that don't need water.

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A version of this article appeared in the print edition of The Straits Times on November 14, 2018, with the headline 'China's 'new phase of opening up' is credible'. Print Edition | Subscribe