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The National Exhibition and Convention Center (Shanghai), the main venue for the 7th China International Import Expo (CIIE), in east China's Shanghai, November 4, 2024. [Photo/Xinhua]
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In his keynote speech at the 7th China International Import Expo (CIIE) on Tuesday, Chinese Premier Li Qiang stressed the importance of opening-up. Against the backdrop of rising protectionist sentiments and sluggish global economic growth, the five-day CIIE is demonstrating China's determination and capability in advancing high-level opening-up.
Throughout history, trade has turned out to be vital in the exchanges between civilizations, and the CIIE has proved itself as an effective platform in promoting the accessibility of international trade for all.
The expo generated a total intended transaction amount surpassing $420 billion in its first six editions, and over 1,130 foreign enterprises and investment promotion organizations have conducted targeted connections across the country.
This year, a record-breaking 297 Fortune Global 500 companies and industry leaders are present at the event, with 186 companies and organizations participating for seven consecutive years, according to official data. The event has attracted 39 government procurement delegations and four industry procurement delegations, totaling 780 trade sub-groups, marking a historic high.
Jinbao, the mascot of the China International Import Expo (CIIE), and Xiaoxin, a humanoid robot providing an inquiry service, are pictured at the media center of the 7th CIIE in Shanghai, east China, November 4, 2024. [Photo/Xinhua]
International trade groups are gathering at the world's first import-themed national-level expo to showcase their products, foster global economic collaboration, and tap the potential of the Chinese market for opportunities.
"Over the past years of participating in the CIIE, we have seen firsthand just how influential the expo can be for our business," Toshinobu Umetsu, president and CEO of Shiseido China was quoted by Xinhua as saying. "The CIIE successfully transformed our 'exhibits' to 'products,'" Umetsu added.
For global investors, the expo has turned out to be a gateway to China's vast market. By constantly unleashing the dividends of openness, the CIIE is committed to sharing China's new development opportunities with the world – and this explains its popularity.
Take the UK company AstraZeneca as an example. Participating in the CIIE for sixth successive years, the company last year made two rounds of investment in its manufacturing and supply base for inhalation aerosols in Qingdao, Shandong province, bringing the project's total investment to $700 million.
Inclusiveness is a keyword for China's high-level opening-up. To promote international trade for all, the CIIE has also provided free exhibition booths to enterprises from 37 least-developed countries and expanded the African products zone, facilitating their participation in the Country and Business Exhibitions.
"We hope to capture the Chinese market of 1.4 billion people after showcasing our honey products during the five-day expo," Xinhua quoted Jackson Mponela, production manager for commerce and development at Tanzania Future Enterprises Company Limited. For Tanzania, the CIIE is an ideal platform to raise global awareness of the "Made in Tanzania" brand.
As the world's second-largest economy is accelerating its intelligent transformation, its high-level openness also features innovation and high-quality development. For the first time, the CIIE hosts events themed around "sustainable development driven by new quality productive forces." Augmented reality experiences, artificial intelligence-powered robots, an astronomical satellite model and other cutting-edge technologies are on display to explore pathways to green and sustainable development.
"The company is ready to ride the wave of the country's (China's) pursuit of new quality productive forces, which are high-tech, highly efficient and of a high quality," said Qin Lei, marketing business partner at Hexagon Manufacturing Intelligence (Qingdao) Co., Ltd.
The CIIE is just an epitome of China's inclusive and innovative opening-up. The country has been rolling out a host of policies to spur international trade and attract foreign investment.
In September, China announced it would give the least developed countries that have diplomatic relations with it zero-tariff treatment for 100 percent tariff lines starting from December 1 this year. The country also removed all market access restrictions for foreign investors in the manufacturing sector on November 1.
China, on several occasions, has pledged to open its door wider. With the CIIE and other supportive measures, China is fulfilling this pledge with concrete actions.
