(Yicai Global) Nov. 5 -- Chinese President Xi Jinping on Tuesday opened the second China International Import Expo (CIIE) in Shanghai.

In a keynote speech delivered during the opening ceremony, Xi extended a warm welcome to all guests, saying he believes all friends could come with pleasure and return with satisfaction.

China has made major progress in expanding imports to promote consumption and cutting tariffs as part of the country's efforts to further open up its market, Xi said.

All of the five measures to expand opening-up announced at the previous CIIE have been generally implemented, Xi added.

In his speech, Xi also put forward three proposals for economic globalization, calling for efforts to uphold the core values and basic principles of the multilateral trading regime, and promote trade and investment liberalization and facilitation.

The second CIIE, which runs from November 5 to 10 in Shanghai, attracts over 3,000 enterprises from 150 countries and regions. More than 500,000 buyers are also expected to attend the event.