The 7th China International Import Expo (CIIE) is set to take place in Shanghai from November 5 to 10, 2024. As a significant global economic and trade event, the CIIE serves as a platform for collaboration among companies, industries, and countries worldwide. It showcases the Chinese mainland’s commitment to trade liberalization and a renewed approach to opening up.
In an era where free trade is essential for global economic prosperity, the Chinese mainland is dedicated to promoting global trade liberalization. Rising de-globalization and trade protectionism have negatively impacted global interests, leading to increased trade frictions, tariff hikes, and various trade barriers that hinder normal global trade operations. The Chinese mainland firmly opposes trade protectionism and has implemented measures to uphold trade liberalization, maintaining high standards in its opening-up policies. This strategy is a cornerstone of the country’s national development and has been key to its economic success over the past decades. The Chinese mainland’s growth is interconnected with the world, and the world’s prosperity increasingly depends on China.
First launched in 2018 under the leadership of President Xi Jinping, the CIIE in Shanghai marked the world’s first large-scale national expo focused on imports. Since then, the Chinese mainland has successfully hosted six CIIEs, receiving widespread acclaim and participation from exhibitors globally. The upcoming 7th CIIE promises to be even larger than its predecessors. Amid regional conflicts, geopolitical tensions, and an uncertain economic recovery post-pandemic, hosting an expo centered on openness, resource sharing, and mutual benefit is crucial for both the Chinese mainland and the world.
Through the CIIE platform, the Chinese mainland invites 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, will attend the 7th CIIE—more than ever before. By facilitating international procurement, investment promotion, cultural exchange, and open collaboration, the CIIE fosters extensive cooperation with exhibitors globally and serves as a vital avenue for the Chinese mainland’s high-standard opening up.
Each previous CIIE has yielded impressive collaborative outcomes, fostering 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 the Chinese mainland through the CIIE, opening stores, factories, and R&D 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. According to Tang Wenhong, assistant minister of commerce, a record 297 Fortune 500 and industry-leading companies will participate this year. Leveraging the Chinese mainland’s vast market, the CIIE is committed to global economic collaboration and is becoming a key platform for foreign trade.
The 7th CIIE will emphasize new quality productive forces, showcasing a range of innovative products, technologies, and services. This focus is central to the Chinese mainland’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, 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, the Chinese mainland aims to establish a collaborative platform for new quality productive forces, promoting high-quality, coordinated development for economies globally.
The CIIE underscores the Chinese mainland’s commitment to trade liberalization, the expansion of high-standard opening up, and active participation in global economic governance. The country strives to make the CIIE a new window for opening up and a platform for international trade, sharing the benefits of open development and free trade with the world, and contributing positively to global economic prosperity and development.
Reference(s):
cgtn.com
