China is slated to host a huge trade fair in the coming months. Many market observers believe that China will use the said trade fair as a stage to show off the country's newest trade policy. In recent months, following the start of the bitter trade war against the United States, China has renewed its tough stance against foreign investments and has slowly opened up its market to international concerns.
Despite China's decision to open up its trade borders, some foreign businesses are still a tad skeptical about the country's recent change in stance. Some foreign businesses, as well as diplomats, have said that they will wait until the country adopts a more concrete policy change in order to further improve foreign access into its massively untapped foreign market. From Singapore, a contingent composed of no less than 80 companies will take part in the expo.
The China International Import Expo was announced by Chinese President Xi Jinping in 2017. At that time, President Xi described the expo as a way to calm rising tensions surrounding the country's approach to trade policies and regulations. Additionally, the expo also aims to flaunt China's willingness to cut its trade gap with the United States and other markets as well.
The China International Import Expo will open its doors on Nov. 5 and is expected to run until Nov. 10. The trade fair will be hosted in the Chinese city of Shanghai.
Many analysts and market observers, as well as people with insider knowledge about the expo have said that while many American companies are expected to attend the expo, United States is planning not to send officials or representatives even though they were properly invited. The United States embassy in China did not offer a comment regarding the matter.
Despite the looming snob of the United States, many analysts are still positive that China will deliver on positive terms. Many expect the Asian superpower to unveil most of its important market-opening policies on the said expo. It will also come as no surprise to many of those who are expected to join the event if China decide to confirm the long standing rumors that the country will expand its importing capabilities in order to offset the negative repercussions of the trade war with the United States.
Local Shanghai government, along with the country's Ministry of Commerce, have put together new departments that will be tasked to organize and run the whole expo. Additional, a special dispute resolution tribunal has been created in order to cater those who are in need of such services.
