Chinese leader Xi Jinping on Friday warned of "severe challenges" to global trade, vowing to open the country's door "wider and wider" to foreign firms as Beijing faces down a mounting trade war with the United States.

Meeting executives including hedge fund boss Ray Dalio and Samsung Electronics chief Lee Jae-yong in Beijing's ornate Great Hall of the People, Xi warned that "unilateralism and protectionism" were on the rise.

"Multilateralism is the inevitable choice for addressing the difficulties and challenges facing the world, and economic globalisation is an unstoppable........

© International Business Times