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Xi says open to discussion on state-owned companies in CPTPP talks

President also puts industrial subsidies on table to pave way for trade pact

Chinese President Xi Jinping speaks at the opening ceremony of the China International Import Expo in Shanghai on Nov. 4.   © Reuters

SHANGHAI -- President Xi Jinping said Thursday that China is open to negotiations on industrial subsidies and state-owned enterprises in order to be accepted into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

This follows China's application to join the CPTPP in September, a move seen as undermining the role of the U.S. in championing free trade. Washington was the brainchild of the deal -- which includes allies such as Australia, Canada and Japan, as well as eight other countries -- but later decided to pull out.

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