China Plans to Increase Foreign Investment and Imports During Next Five Years

Forex News

The Chinese government plans that the country will import goods worth $8 billion and attract $600 billion of foreign investment in the next five years. Wang Yi (Foreign Minister) stated, that China's overseas investment will reach $750 billion in the next five years, and added, that China would widen market access and open up its financial sector. According to politician, the practices of unilateralism and protectionism would be a form of regression, and not only would they lead to a dead end, they would damage one's own interests.

Meanwhile, China is still considering the possibility of imposing restrictive measures on the importation of soybeans from the United States. During a meeting between representatives of the Chinese unit of the US Soybean Export Council and the Ministry of Agriculture of China, representatives of the Chinese side wanted to receive information about the consequences for the country in the event of the introduction of import duties on US soy. The issue of supply and demand for soybeans in China was also discussed.