China's imports of goods, services to exceed USD 40 trillion in 15 yrs: Xi

China's imported goods and services are set to exceed USD 40 trillion in the next 15 years, President Xi Jinping pledged as he kicked off a major import fair in which India and 80 other countries are participating.

An Indian delegation led by Commerce Secretary Anup Wadhawan is taking part the first China International Import Expo inaugurated in the eastern metropolis of Shanghai.

A total of 81 countries are taking part in the fair and hoping to gain access to China's tightly closed import market.

China, the top global exporter, plans to become a major importer.

China's imported goods and services are estimated to exceed USD 30 trillion and USD 10 trillion respectively in the next 15 years, Xi said in his inaugural address, state-run 'Xinhua' news agency reported.

Xi said measures announced in April to relax access to Chinese market have so far been implemented.

China has further simplified negative list of foreign investments, reduced investment limits and lifted the level of free investment.

(Agencies)