Eric's Insight: Why does the CIIE keep getting better?
The 8th China International Import Expo (CIIE) was held in east China’s Shanghai from November 5 to 10. The CIIE once again sent a clear message to the world: no matter how the external environment changes, China's door will only open even wider.
Venue of the 8th China International Import Expo (CIIE)
Independent opening-up
While unilateralism and protectionism by certain countries severely impact the international economic and trade order and disrupt the global economy, China adheres to open cooperation and mutual benefit, continuously expanding high-level opening-up.
The CIIE is the gateway for the world economy to access the Chinese economy and a crucial bridge connecting China to the world. This year, both the exhibition area and the total number of enterprises at the CIIE hit record highs.
The growing CIIE shows that China is actively expanding international circulation, turning its vast market into a great opportunity for the world, sharing opportunities and achieving common development with all countries.
It also signals China's fairness, justice, openness, inclusiveness, and commitment to win-win cooperation. Despite the rapidly changing international landscape and economic situation, China's determination to open up remains unwavering.
Focusing on innovation
The CIIE is the world's first national-level exhibition themed on imports, and it also constantly innovates and develops itself in practice.
In green environmental protection and technological innovation, the CIIE had the energy conservation and environmental protection zone in 2020 and the energy low-carbon and environmental protection technology zone in 2021, following the development trend of green trade closely.
This year's CIIE also showcased new technological highlights. With 461 new products, technologies, and services making their debut, it facilitated technology sharing and digital trade. Globally, the importance of trade connectivity remains unchanged, and the CIIE will demonstrate more innovative contributions.
Cementing a trade bond
The CIIE showcases China's business environment and market potential to the world. Using trade as a bond, it attracts more multinational companies to China and put down roots for development.
Some companies have attended all the eight versions of CIIEs, including well-known enterprises from various industries such as Volkswagen, Johnson & Johnson, Nestlé, Siemens, L'Oréal, and Charoen Pokphand Group.
As "exhibits" turn into "commodities" and "exhibitors" into "investors," the CIIE’s influence continues to grow, and the advantages of China's super-sized market, complete industrial supporting facilities, and mature business environment are becoming increasingly prominent.
The continuous localization strategies by numerous multinational companies in China helps to deepen the integration of trade and investment at the product, industrial, and macro levels.
The interaction between trade and investment has a long history, and the CIIE platform further contributes to the win-win development of China and global multinationals.
A platform for mutual benefits
Themed on import trade, the CIIE itself is an important measure to implement trade facilitation. Why can the CIIE keep getting better? A very important reason is its adherence to "sharing benefits with all."
Since its first session, the CIIE has facilitated the participation of the least developed countries. Over eight years, more and more products from these countries have entered the Chinese market through the CIIE.
This year's CIIE provided preferential policy support for exhibitors from 37 least developed countries, expanding the African products zone, and China increased unilateral opening-up to the least developed countries.
The Hongqiao Forum first discussed on "enhancing the economic resilience of the Global South" and "agricultural sustainable development in the Global South," gathering global wisdom for people-centered approaches and promoting inclusive and equitable development.
The CIIE is a vivid case to illustrate how China and other countries are promoting inclusive and mutually beneficial development and advancing high-quality Belt and Road cooperation.
Writing by Li Feng (Associate Professor at China Foreign Affairs University and Deputy Director of the Department of International Economics and Trade); Editing by Han Chengyuan, Zhang Ruogu and Zu Hongbing; Translating by Wang Shixue
Li Feng