The seventh China International Import Expo (CIIE), held from November 5 to 10, concluded with a record-breaking $80.01 billion in tentative deals for one-year purchases of goods and services, marking a 2 percent increase over last year.
The event attracted 3,496 exhibitors from 129 countries and regions. Notably, 186 enterprises and institutions have participated in all seven editions of the expo, underscoring the long-term commitment of global businesses to the Chinese market. Many others made their debut this year, signaling growing international interest.
For multinational corporations aiming to maintain a strong presence in China, the country remains an essential destination for trade and investment. “In FORVIA’s global strategy, China has consistently been one of the most important markets,” said Li Jingcheng, Vice President of Asia Strategy and Business Development for FORVIA, a global automotive company. He noted that revenue from the new energy vehicle (NEV) sector accounts for 45 percent of FORVIA’s total earnings in China.
“China has been the world’s largest automotive market for 14 consecutive years and has been setting global trends, particularly in the NEV sector,” Li added. “We hope to channel global innovation resources into China and plan to establish a global R&D center here within the next two to three years.”
According to a research report issued by one of the CIIE’s official forums, the expo’s spillover effect index has increased by 169 percent from the first CIIE in 2018 to the sixth in 2023. “The impact of the CIIE goes far beyond the expo itself; its spillover effect has deeply influenced international procurement, consumption upgrades, investment promotion, cultural exchange, and open cooperation,” said Li Qingjuan, Director of the Think Tank Center at Fanhai International School of Finance, Fudan University. “It has become a crucial driver in China’s efforts to accelerate the creation of a new development pattern and pursue high-quality development.”
Recruitment for the eighth CIIE in 2025 began in July, according to the CIIE Bureau. So far, 80 enterprises and organizations have already signed up, including Mercedes-Benz, Zeiss, Estée Lauder, Bayer, and the Singapore Business Federation, reserving nearly 50,000 square meters of total exhibition space. This early commitment showcases the firm confidence that global businesses have in the event and the opportunities it presents.
Reference(s):
cgtn.com
