The 7th China International Import Expo (CIIE) just wrapped up in Shanghai, and it’s making waves around the world. Held from November 5 to 10, the expo came at a time when the global economy faces challenges like geopolitical tensions and trade frictions.
But what’s so special about CIIE? Well, it’s the world’s first national-level expo focused solely on imports. Launched in 2018, after being proposed by President Xi Jinping, the expo shows China’s commitment to opening up its markets to the world.
This year, Premier Li Qiang emphasized China’s dedication to making it easier for foreign businesses to enter its market. He announced plans to relax market entry rules and open up sectors like telecommunications, education, and healthcare. This means more opportunities for companies around the world to tap into China’s massive consumer base.
Since it started, CIIE has showcased over 350,000 products, including about 2,500 new ones. Deals worth over $420 billion have been made! Even during the pandemic, the expo didn’t slow down. Last year’s event saw deals worth $73.5 billion, and this year, that number climbed to $78.41 billion.
What’s really cool is how the expo supports small and medium-sized enterprises (SMEs) from around the globe, especially from developing countries. It’s helping them compete on the world stage by giving them access to China’s huge market.
This year’s expo was bigger than ever, with 297 Fortune 500 companies participating and representatives from 152 countries and regions. There was a big focus on sustainability, green energy, and tech innovations like artificial intelligence and new energy vehicles.
Beyond business, the CIIE is also about cultural exchange, bringing people together and strengthening international friendships.
In a world that’s facing a lot of challenges, the CIIE stands out as a beacon of openness and cooperation. It’s not just about trade; it’s about building a more connected and prosperous global community.
Reference(s):
cgtn.com
