The 7th China International Import Expo (CIIE) is poised to unfold in Shanghai from November 5 to 10, 2024. As a premier global economic and trade event, the CIIE offers an expansive platform for companies, industries, and nations to collaborate, reflecting China’s unwavering commitment to trade liberalization and its fresh approach to opening up.
Free trade stands as a cornerstone for global economic prosperity. Amid rising trends of de-globalization and trade protectionism, which have led to increased trade frictions and barriers, China’s dedication to promoting global trade liberalization is both timely and essential. The nation firmly opposes trade protectionism and has implemented measures to uphold trade liberalization, maintaining high standards in its opening-up policies. This strategy has been fundamental to China’s national development and economic success over the past decades. China’s growth is intertwined with the global economy, and its progress significantly contributes to worldwide prosperity.
Since its inception in 2018, under the leadership of President Xi Jinping, the CIIE has emerged as the world’s first large-scale national expo focused on imports. Over the years, China has successfully hosted six editions, garnering widespread acclaim and participation from exhibitors around the globe. The upcoming 7th CIIE is anticipated to surpass its predecessors in scale and impact. In the face of regional conflicts, geopolitical tensions, and the uncertain economic recovery post-pandemic, an expo centered on openness, resource sharing, and mutual benefit holds profound significance for China and the international community.
By leveraging the CIIE as a platform, China extends an invitation to countries worldwide to engage in practical collaboration through friendly exchange. The event is expected to attract participants from 152 countries and regions, with France, Malaysia, Nicaragua, Saudi Arabia, Tanzania, and Uzbekistan serving as guest countries of honor. Additionally, 39 government trade missions and four industry trade missions, comprising 780 trade sub-missions—the highest number to date—will attend the expo. Through facilitating international procurement, investment promotion, cultural exchange, and open collaboration, the CIIE fosters extensive cooperation with global exhibitors and serves as a vital avenue for China’s high-standard opening up.
Each previous CIIE has yielded significant collaborative outcomes, strengthening friendly relations between Chinese and foreign exhibitors. According to the Ministry of Commerce, the first six CIIEs showcased over 350,000 products, including nearly 2,500 new products, technologies, and services, generating over $420 billion in intended transactions. Many foreign exhibitors have established operations in China through the CIIE, opening stores, factories, and research and development centers, while forming partnerships with Chinese companies. Building on past successes, the 7th CIIE aims to attract leading enterprises across various sectors, expanding its global reach. Assistant Minister of Commerce Tang Wenhong noted that a record 297 Fortune 500 and industry-leading companies will participate this year. Leveraging China’s vast market, the CIIE is committed to global economic collaboration and is becoming a key platform for foreign trade.
The 7th CIIE will place a strong emphasis on new quality productive forces, showcasing a range of innovative products, technologies, and services. This focus aligns with China’s economic strategy and represents a core competitive strength for companies worldwide. Exhibitors will present cutting-edge products, with many making their global or Chinese debut. For the first time, a dedicated section for new materials will be featured, highlighting enterprises and products from high-end manufacturing sectors, including electronic materials, biomaterials, and specialty materials. The automotive sector will showcase emerging industries such as autonomous driving, low-altitude economy, and new energy storage vehicles. Through the CIIE, China aims to establish a collaborative platform for new quality productive forces, promoting high-quality, coordinated development for economies globally.
The CIIE underscores China’s commitment to trade liberalization, the expansion of high-standard opening up, and active participation in global economic governance. By making the CIIE a new window for opening up and a platform for international trade, China shares the benefits of open development and free trade with the world, contributing positively to global economic prosperity and development.
Reference(s):
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