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Xinhua Commentary: China's pioneering role in practicing internationalism with CIIE

Source: Xinhua | 2021-11-05

Chinese President Xi Jinping delivers a keynote speech via video at the opening ceremony of the fourth China International Import Expo held in east China's Shanghai on Nov. 4, 2021. [Photo by Li Xueren/Xinhua]

SHANGHAI, Nov. 5 (Xinhua) -- Against the grim international background featuring a still raging pandemic, uneven economic recovery, energy shortage and supply chain obstacles, the fourth China International Import Expo (CIIE) got going in Shanghai as planned, further opening up China's huge domestic market.

As the world's second largest importer for 12 consecutive years and a major export destination for many countries and regions, China has been adding impetus to the global economy and providing opportunities for global development.

From 2018 to 2020, the total intended transaction volume of the previous three editions of the CIIE was about 201.6 billion U.S. dollars, making a positive contribution to international trade.

From January to September this year, China's imports reached nearly 2 trillion dollars, up 32.6 percent year on year and hitting a record high. According to the latest data from the World Trade Organization (WTO), China's imports in the first half of this year contributed to 15 percent of the global import growth.

At the fourth CIIE, scientific measures of pandemic prevention, meticulous exhibition plans, expanding customer groups and attentive business support services are highly appreciated by foreign exhibitors on the site.

The exhibitors also brought products specially tailored to the needs of Chinese customers. Slogans like "In China, For China, Co-create with China" and "50 years helping China thrive" are commonly seen on the booths or pavilions, a striking demonstration of high confidence in and a deep-rooted bond with the Chinese market.

The logic behind China's drive for opening up and sharing development opportunities is simple -- win-win, and noble -- to jointly build a community with a shared future for mankind.

China will unswervingly uphold true multilateralism, share market opportunities with the world, advance high-level opening-up and safeguard the common interests of all countries, Chinese President Xi Jinping said while addressing the opening ceremony of the fourth CIIE via video on Thursday night.

China has been consistent in fulfilling its commitments.

Over the past 40-plus years of reform and opening-up, China has steadily advanced opening-up and provided considerate support to foreign companies investing in the country for mutual benefits.

Twenty years after joining the WTO, China has honored its commitments with concrete actions, significantly lowering its overall tariff level to 2.4 percentage points below the 9.8 percent it promised at WTO entry, contributing nearly 30 percent on average to world economic growth, and now nourishing the world economy with the largest middle-income population in the world.

Promoting the construction of the Belt and Road Initiative and facilitating the world's largest trade deal Regional Comprehensive Economic Partnership agreement, China has been making unremitting efforts to provide more public goods, boost economic growth of developing countries and promote regional economic cooperation.

The International Monetary Fund has projected that China's economy is expected to grow at 8.0 percent this year.

Striving to be an increasingly mature contributor to global development, China, as Xi put it, will remain resolute in making economic globalization more open, inclusive, balanced and beneficial for all.