World’s first national-level import expo a “golden gate”

The fifth China International Import Expo (CIIE), the world’s first import-themed national-level expo, is sure to serve as an important window for more countries to enjoy China’s development opportunities.

Chinese President Xi Jinping on Friday addressed the opening ceremony via video, stressing that China will work with all countries and all parties to share opportunities in the vast Chinese market, from China’s institutional opening-up and from deepened international cooperation.

The expo was designed by Xi for the very purpose of expanding China’s opening-up and turning China’s enormous market into enormous opportunities for the world. This pioneering move in the history of international trade is regarded as a “golden gate” leading to the vast Chinese market.

Since its debut in 2018, the CIIE has become a showcase of China’s new development paradigm, a platform for high-standard opening-up, and a public good for the whole world.

At the previous four editions, China introduced a series of measures to further open up, including opening a new section of the Shanghai Pilot Free Trade Zone, shortening the negative list for foreign investment, and an orderly opening-up of the service sector.

Data from the Ministry of Commerce shows that, from 2018 to 2021, exhibitors at the four previous editions of the CIIE had launched more than 1,500 new products, technologies, and services, with a total expected turnover exceeding 270 billion U.S. dollars.

Many participants have grown from “exhibitors” to “investors.” Leading biopharmaceutical company Takeda is one such example. The c

ompany has been expanding its presence in China in recent years, with nine innovative products having been approved to enter the Chinese market.

Jurgen Unser, president of Audi China, referred to the CIIE as a “perfect platform.”

He said the CIIE showcases China’s numerous advantages, which include “a huge market, a great business environment, and favorable opening-up policies.”

This expo has joined the China Import and Export Fair (Canton Fair) and the China International Fair for Trade in Services in becoming major platforms for China’s opening-up.

The world today is confronted with accelerated changes not seen in a long time, as well as sluggish economic recovery. Despite such challenges, the fifth import expo still attracted 145 countries, regions, and international organizations, and 284 industry leaders and world top 500 companies.