At the opening ceremony of the seventh China International Import Expo (CIIE), Chinese Premier Li Qiang highlighted the critical need for continued openness and cooperation in the global economy. Addressing representatives from around the world, he emphasized that expanding and upgrading China’s opening-up is essential to counter rising unilateralism and protectionism, and to promote lasting peace, stability, and prosperity.
High-standard opening-up has been a key feature of China’s economic journey. Over the past six editions, the CIIE has attracted companies from 173 countries and regions, with transactions exceeding $424 billion and over 2,400 new products, technologies, and services debuting annually.
The sheer size and appeal of the CIIE make it a valuable platform for global companies. Chief executive officers find participation rewarding, as it provides opportunities to showcase their latest innovations to one of the world’s largest and fastest-growing consumer markets.
Last year’s expo saw the largest-ever delegation from the United States, with more than 200 U.S. companies, including Ford and Tesla. This reflects a willingness among international businesses to engage with China, distancing themselves from unilateralist and protectionist policies and aligning their interests with China’s development.
This year, the number of exhibitors has hit a new record, with participation from 152 countries, regions, and international organizations. With 297 Fortune 500 companies and industry leaders set to attend, China is increasingly becoming a hub for global business development.
The 2024 Investment Promotion Conference, in support of this year’s expo, attracted officials and delegates from countries such as Argentina, Mexico, and the Czech Republic. The event underscores the interest of foreign officials and companies to invest in China and their trust in the country’s openness.
China’s opening-up is not just about removing trade barriers and encouraging investment; it is also about fostering cultural exchanges and bringing countries and regions closer together. The CIIE serves as a platform for innovation, cross-cultural interactions, and international harmony, all of which are crucial for global stability and prosperity.
The expo is taking place amid a complex geopolitical environment, with escalating regional conflicts posing serious threats to international security and economic growth. At this critical time, the CIIE sends a strong message of cooperation, peace, and mutual coexistence. China’s openness presents invaluable opportunities for global nations and companies to establish or expand their presence in one of the world’s largest consumer markets.
The Enterprise and Business Exhibition, comprising six major areas—including an Innovation Incubation Special Section aimed at providing opportunities for small and medium-sized enterprises—continues to be the cornerstone of the expo. It offers an equal playing field for companies from developed and developing nations to showcase their innovations and promote their products.
As the world grapples with challenges to globalization and rising protectionism, the CIIE stands as a symbol of openness and collaboration. By fostering international trade and cultural exchange, China demonstrates its commitment to building a shared future of peace, stability, and prosperity.
Reference(s):
CIIE: A symbol of globalization and an antithesis of protectionism
cgtn.com
