French pharmaceutical giant Sanofi has started preparations for the Third China International Import Expo (CIIE) with the 100-day countdown of the expo starting on July 27. Against the backdrop of the novel coronavirus disease (COVID-19) pandemic, the company will add exhibits for public health and epidemic prevention. Sanofi has participated in the event for two years in a row.

China is witnessing a steady economic recovery with the epidemic largely under control. Sanofi remains confident in the performance of the Chinese market and plans to introduce more innovative products and vaccines by 2025 to meet diversified demands, Pius S. Hornstein, PhD, General Manager for general medicines and country Chair for Sanofi China, said in a press release on July 27.

The global economy has seen slower-than-expected resumption due to the pandemic and foreign trade of many countries has contracted. While the anti-globalization trend has reared its head, China has delivered positive signals of continuing its opening up through the CIIE and injecting confidence into the weak global economy and trade, Sang Baichuan, Dean of the Institute of International Economy at the University of International Business and Economics (UIBE) in Beijing, told Beijing Review.

"The expo will provide global players with an opportunity to tap into the large Chinese market and share the benefits of its rapid growth. It will also help meet upgraded demands of domestic consumers and enterprises for transformation through expanding imports," Sang said.

Due to the impact of the epidemic, some signing ceremonies and roadshows have been moved online for this year's expo. According to the expo bureau, the total planned exhibition area for enterprises this year is 360,000 square meters, 60,000 square meters larger than the second edition. The number of top enterprises expected to participate in this year's expo has exceeded that of last year. On July 26, the exhibitors' association for the CIIE was established, with 35 member enterprises signing agreements on participating in the expo for the next three years.

"The active participation of exhibitors reflects wide recognition of both the CIIE and the Chinese market," Sun Chenghai, Deputy Director of the bureau, said at a press briefing on July 24.

According to Sun, four new zones for public health and epidemic prevention, energy conservation and environment protection, smart transportation, as well as sports goods and events will be added this year.

The CIIE last year saw the participation of 181 countries, regions, and international organizations as well as more than 3,800 enterprises. A total of $71.13 billion worth of tentative deals were reached for a year's purchase of goods and services during the event, an increase of 23 percent from 2018.

China has seen steady economic recovery from the impact of the epidemic. With the epidemic situation greatly improving, China's gross domestic product rose 3.2 percent year on year in the second quarter, rebounding from a 6.8-percent contraction in the first quarter. The figures for its foreign trade in the first half of this year have exceeded expectations. According to China's General Administration of Customs, the country's imports saw a 6.2-percent year-on-year growth in June, the first positive year-on-year growth since the epidemic outbreak.

Sang said the talk of decoupling with China by some countries is not in line with the demands of their enterprises. Since the recovery of the global economy will take time, China needs to further introduce preferential policies for foreign trade enterprises, tap into international markets and promote cross-border trade to help the trade sector weather the impact of the epidemic.

Copyedited by Madhusudan Chaubey

Comments to lixiaoyang@bjreview.com