China's door will 'open wider’, Xi tells foreign executives

BEIJING

Chinese leader Xi Jinping has vowed that the country's door would "open wider and wider" as he met with foreign executives in Beijing.

"China is firmly committed to advancing reform and opening up. The door of opening up will only open wider and wider," Xi told the executives on March 28, including hedge fund boss Ray Dalio and Samsung Electronics chief Lee Jae-yong.

China has sought to woo foreign businesses as it faces down a mounting trade war with the United States under President Donald Trump, who has slapped swingeing tariffs on Chinese goods.

"China is committed to high-quality development and accelerating green, digital and intelligent transformation, and has strong industrial supporting capacity," Xi said.

"Foreign enterprises in China can develop their advantages and capabilities and gain an advantage in global competition."

Xi also said the world trading system is facing "severe challenges."

"Multilateralism and free trade are facing severe challenges," Xi told business leaders , adding that "unilateralism and protectionism are intensifying."

China warned on March 27 a trade war would have "no winners" after Trump announced 25 percent import tariffs on foreign-made cars.

"There are no winners in a trade war or a tariff war. No country's development and prosperity has been achieved by imposing tariffs," Chinese Foreign Ministry spokesman Guo Jiakun said at a regular news briefing.