China is offering to increase imports by hosting the international import expo with a view to advancing a new round of high-level opening-up, strengthening international cooperation on the Belt and Road Initiative and jointly building an open world economy, President Xi Jinping said on Monday.

▲ Photo by Feng Yongbin/China Daily

Xi made the remarks when addressing a banquet that he and his wife, Peng Liyuan, hosted in Shanghai to welcome foreign guests attending the second edition of the China International Import Expo, which opens on Tuesday. Xi will deliver the keynote speech at the opening ceremony.

The expo is a place where commodities and services are traded, cultural exchanges are promoted, international guests are greeted, and benefits are gained by people around the world, Xi said, adding it meets the common aspirations of the people to live a better life.

Xi hailed the expo, which was initiated last year in Shanghai, and said many countries and enterprises from around the world have participated in the event, which he described as a great creation in the development of global trade, and an important platform for international cooperation in the new era.

Xi spoke of the tremendous changes, developments and achievements China has had in the past 70 years, particularly since it adopted the reform and opening-up policy in 1978. The development process showed that "only when the world is good, China is good. Only when China is good, can the world get better", he said.

Xi called for intensifying international cooperation to beef up the development of the global economy.

Under the theme of "New Era, Shared Future", the six-day event will involve 64 countries and three international organizations participating in country exhibitions, with a total area of 30,000 square meters to showcase their achievements, business environment and industries.

More than 3,000 companies from about 150 countries and regions will attend the business exhibitions, with an exhibition area of 330,000 square meters, with more representatives from the Fortune Global 500 list than in the first expo. The first import-themed expo at the national level is a place where other countries' products can access the vast Chinese market.