Speaking in China’s financial hub Shangai on Monday, Mr Xi advocated for an open and inclusive economy with remarks that clearly go against the US’ anti-globalisation stance.
He said China would accelerate efforts to remove barriers to foreign business in a bid to increase imports and open the country’s markets.
Mr Xi claimed: “We will foster a world-class business environment.”
The Chinese president added “the world is facing the challenge of rising anti-globalisation” and “countries need to acknowledge that economic globalisation is an irreversible historical trend, and openness and collaboration are the engines of global growth and vitality”.
Shen Dingli, a Professor at Fudan University in Shanghai, commented on Mr Xi’s remarks, noting: “If the US closes, if China closes, then the whole world closes.
“So China is against America’s anti-globalisation stance.”
Washington refused to send any government officials to Shanghai’s international import fair despite politicians and business chiefs from 150 countries attended the event.
The world’s top two economies are in the middle of a huge trade war over tariffs, which kicked off in March when the Trump administration announced tariffs on $50billion work of Chinese goods in a bid to punish China for the theft of US intellectual property and economic policies that the US said harmed American firms.