Xi pledges to reduce auto tariffs

Beijing, April 10: Chinese President Xi Jinping on Tuesday said his government would “significantly lower” tariffs on vehicle imports this year. Xi made the remarks in a keynote speech at the opening ceremony of the Boao Forum for Asia annual conference held in the island province of Hain, reports Xinhua news agency.

“We will take the initiative to expand imports,” Xi said. The country will work hard to import more products that are competitive and needed by the Chinese people, he said. Chi will also seek faster progress toward joining the World Trade Organisation Government Procurement Agreement. “Chi does not seek trade surplus; we have a genuine desire to increase imports and achieve greater balance of intertiol payments under the current account,” he said. Meanwhile, Chi hopes developed countries will stop imposing restrictions on normal and reasoble trade of high-tech products and relax export controls on such trade with Chi, Xi added. (IANS)