INTERNATIONAL - US, China trade war stupid: Jack Ma

The China International Import Expo, slated to be held annually will run for six days from Nov 5 to 10

U.S. President Donald Trump has railed against China for what he sees as intellectual property theft, entry barriers to U.S. business and a gaping U.S. trade deficit.

The business lobby group admitted there had been progress in removing caps on foreign investment in education and medical services and acknowledged Xi's support for an acceleration to the negotiations for the EU-China Comprehensive Agreement on Investment, which demands China give EU businesses access to its market in a way that mirrors the EU's openness to Chinese investment. No senior US officials were set to attend the Shanghai event.

The Hangzhou-born entrepreneur has been an outspoken opponent of tariffs on US-China trade.

China's imported goods and services are estimated to exceed Dollars 30 trillion and Dollars 10 trillion respectively in the next 15 years, Xi said in his inaugural address, state-run Xinhua news agency reported.

With the Belt and Road Initiative (BRI) being further implemented, two-way investment and trade between China and countries along the Belt and Road have continued to gather pace, Xi said.

But such promises are nothing new and the commitments made at the Shanghai import expo do not go as far as is necessary, the European chamber said.

In terms of goods imports, hitting $30 trillion seems like it will be easily achievable.

The US trade deficit with China helped create jobs in China, without which the country would have faced big problems, Ma said.

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Expectations had been low that Xi would announce bold new policies of the kind that many foreign governments and businesses have been seeking from Beijing.

Kenyan President Uhuru Kenyatta voiced the foreign impatience when he told the opening ceremony that his country's growing trade with China was "heavily skewed" in Beijing's favour.

Foreign business groups have grown tired of Chinese reform promises, and while opposing Trump's tariffs, had long warned that China would invite retaliation if it didn't match the openness of its trading partners.

The Expo is seen as an attempt by Beijing to counter mounting criticism of its trade and business practices. Its VIP guest list includes prime ministers and other leaders from Russia, Pakistan and Vietnam. The Swiss government said in a statement to Reuters on Sunday that his visit had never been confirmed, and that Secretary of State Marie-Gabrielle Ineichen-Fleisch would represent Switzerland.

From the United States, some 136 exhibitors are expected to attend, including Google, Dell Inc, Ford (F.N) and General Electric (GE.N).

Since then, officials of the two countries held several rounds of talks for India to export its agricultural products like sugar and rice as well as its pharmaceuticals and IT in which the country has an upper hand in the global exports.

For Iraq, it's crude oil.

Chad would be selling its bauxite and tiny São Tomé would sell package holidays.

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