Chinese President Xi Jinping has pledged to open up its economy further as he defended economic globalisation.
"Economic globalisation is an irreversible historical trend and provides strong momentum for the world economic development," President Xi said.
His made the pledge while inaugurating a six-day exposition at the National Exhibition and Convention Centre in Shanghai.
The first ever China International Import Expo kicked off on Monday in Shanghai where 172 countries including Bangladesh are participating.
A total of 3,600 companies and organisations from participating countries and regions are showcasing their development achievements and products at the exposition.
He said China will push forward multilateral and bilateral cooperation in pursuit of its development.
"As globalisation deepens, the practices of 'law of jungle' and 'winner takes it all' are a dead-end," he said, implicitly referring to the ongoing trade war with the United States.
In his inaugural speech, president Xi said all countries should be committed to opening-up and opposing protectionism and unilateralism in a "clear-cut stand."
The President pledged to make non-stop efforts to reform and open up.
He also stressed China's commitment towards building a community with a shared future for mankind.
"Openness has become a vivid symbol of modern China," President Xi said, detailing the country's accomplishments over the 40 years since its reform and opening up.
"China has achieved the great historical turn from being closed or semi-closed to all-round open."
"The Chinese economy is a sea, not a pond." "Storms can overturn a pond, but never a sea," he said.
The Chinese president emphasised higher-quality economic development under a more open market condition.
"China will never stop its steps toward pushing for the construction of an open world economy," Xi said.
A higher-level liberalisation and facilitation policy of trade and investment will be put forth so as to achieve the "win-win" opening up strategy, according to President Xi.
He expressed the hope to set up a link between land and sea, and reciprocity between the East and West.
The further opening up and reform does not just benefit China, but benefits the whole world, Xi said, adding that the country would remain an all-time active contributor to governance reform around the world.
China's imported goods and services are estimated to exceed US$ 30 trillion and $ 10 trillion respectively in the next 15 years, he said.
He said every country should strive for improving its own business environment and solve own problems.
China will speed up the exploration of the building of free trade ports with Chinese characteristics, President Xi said.
He said his country will not close its door to the world and will only become more and more open.
China's initiative to expand imports is not a makeshift, but long-term consideration of embracing the world and future while promoting common development, President Xi said.
Some 18 heads of states including Russian Federation Prime Minister Dmitry Medvedev, Pakistan's Prime Minister Imran Khan attended programme.
Managing Director of the International Monetary Fund Christine Lagarde, Microsoft founder Bill Gates, Ali Baba CEO Jack Ma, among hundreds of global financial and business leaders attended the inaugural function.
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