Tashkent, Uzbekistan (UzDaily.com) -- China will import goods worth US$22 trillion in the next 10 years. This was announced on 4 November at the opening ceremony of the III China International Import EXPO by the President of the People’s Republic of China Xi Jinping. He stressed that China is "a market open to the whole world."

Specially for his foreign colleagues, the head of the Chinese state stressed that the new economic concept of "double circulation" does not imply that the PRC will refuse to expand its openness to the outside world. 

The concept denotes two contours of the Chinese economic system: internal and external, while the emphasis is on “internal circulation”, that is, on relying on one’s own forces and internal markets for further economic development. Explaining the essence of this policy, Xi stressed: "double circulation" does not imply development behind closed doors, but, on the contrary, a more open double cycle of domestic and international markets. "

The Chinese President reiterated that globalization is an irreversible process. In this light, he called on the international community for mutual openness, sharing of responsibilities, and partnership. Xi urged not to allow protectionism and the policy of unilateral actions to undermine the world order.

He recalled that China follows the above principles not in word but in deed. So, this year the number of Chinese free trade zones has grown from 18 to 21. At the beginning of the year, the Foreign Investment Law came into force, the purpose of which is to improve the business climate for foreign capital. In addition, the PRC has significantly increased the intensity of negotiations on a comprehensive investment agreement with the European Union. 

An agreement on the Comprehensive Regional Economic Partnership is expected to be signed soon, which involves the creation of the world’s largest free trade zone with the participation of China, ASEAN countries, Japan, the Republic of Korea, Australia and New Zealand. Earlier it was reported that it may be signed this month on the sidelines of the 37th summit of the Association of Southeast Asian Nations (ASEAN) in Vietnam.

Xi Jinping added that the China International Import Expo is another example of China’s expanding openness. The current fair brought together representatives of more than 2,600 foreign enterprises from 124 countries of the world, more than 100 forums will be held dedicated to strengthening international cooperation in various areas - from e-commerce to the industrial Internet, from the joint development of the Belt and Road integration initiative to interaction in environmental activities.