Expo revival
Editorial  ·  2023-11-13  ·   Source: NO.46 NOVEMBER 16, 2023

The China International Import Expo (CIIE), the world's first national-level exposition dedicated to imports, has made a post-COVID comeback. More than 3,400 exhibitors and 394,000 professional visitors registered for this year's edition of the signature event, which was held on November 5-10 in Shanghai, representing a full recovery to pre-pandemic levels.

In particular, over 200 U.S. exhibitors in industries including semiconductors, medical devices, new-energy vehicles and cosmetics attended, marking the largest U.S. presence in the CIIE's six-year history. Among the exhibitors were 17 from the agricultural and food industry, led by the U.S. Government for the first time.

Compared with previous editions, the 2023 event featured a larger business exhibition area and higher numbers of participating Fortune 500 companies and industry leaders as well as innovative small and medium-sized enterprises. It was a display of not only new products and services, but also the confidence of the international business community in the Chinese economy.

With a population of 1.4 billion and a middle-income group of 400 million people, China boasts huge demand. First held in 2018, the annual CIIE has leveraged the strengths of China's enormous market, contributing to international procurement, investment promotion, and people-to-people exchange.

The Sixth CIIE took place against the backdrop of uneven post-COVID global economic recovery. It enabled government officials, entrepreneurs and economists to understand and take part in China's vision for global growth: sharing the benefits of China's development with other countries, and creating new economic opportunities through access to its enormous market.

Official data showed China's imports increased 6.4 percent year on year in October. In the first 10 months of this year, its total imports and exports of goods expanded 0.03 percent year on year, reversing a 0.2-percent decrease in the first three quarters. In the next five years, China's trade in goods and services is projected to reach $32 trillion and $5 trillion, respectively, creating enormous market opportunities.

Forty-five years after the launch of China's landmark reform and opening-up policy, the Chinese economy remains as and will continue to be an engine of global growth. China's commitment to further opening up as illustrated by initiatives such as the CIIE is conducive to building an open world economy.

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