Fact Check
A fair for globalization
  ·  2021-11-15  ·   Source: NO.46 NOVEMBER 18, 2021

The Fourth China International Import Expo (CIIE) took place in Shanghai from November 5 to 10, in online-offline hybrid format. This is an important event for the international community to boost global economic and trade growth in a context of fatigued international trade during the COVID-19 pandemic. Moreover, the expo denotes China's determination in the quest for global economic growth as the country resumes energetic recovery. Nearly 3,000 businesses from 127 countries and regions attended the physical trade fair, with 58 countries and three international organizations joining the online exhibition. The numbers of both participating countries and businesses exceeded those of a year ago.

In his keynote speech delivered via video link during the opening ceremony of the Fourth CIIE, Chinese President Xi Jinping reiterated that China will firmly promote the nation's high-standard opening up and resolutely uphold the common interests of the worldwide community.

The CIIE shows China's support for multilateralism. As one of the world's largest markets, China will attach more importance to the expansion of its imports. With a total population of more than 1.4 billion and a middle-income group of more than 400 million people, the country imports around $2.5 trillion worth of goods and services, hugely contributing to international trade.

China will further shorten the nation's negative list for foreign investment and expand the rollout of telecommunication, healthcare and other services in orderly fashion. It will revise and enlarge the encouraged industry catalogue to guide more foreign investment toward the sectors of advanced manufacturing, modern services, high and new technology, energy conservation and environmental protection.

China will also deeply engage in international cooperation on green and low-carbon development plus the digital economy, as well as actively work toward joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement. It will promote high-quality Belt and Road cooperation so that more countries and people will benefit from its growth prospects and real outcomes.

The nation will take on a proactive role in global efforts to tackle climate change and safeguard food and energy security as well as provide more assistance to fellow developing countries within the framework of South-South cooperation. 

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