4th CIIE fuels global economic growth

The 4th China International Import Expo was held in Shanghai from November 5 to 10 against the backdrop of anti-globalization sentiment, unilateralism and protectionism as well as disruptions of industrial and supply chains. The Expo is seen as China’s latest move to open its economy and inject impetus into the world economy.

Uphold multilateralism

The Expo is not only a trading platform for products and services, but also a comprehensive platform that embraces international cooperation and multilateralism. After years of development, the Expo has become a comprehensive mechanism that incorporates international procurement, investment, cultural exchange and open cooperation.

In recent years, unilateralism and protectionism have posed grave threats to global trade and economic recovery. The principles of fair trade and multilateralism are the weapons to defend globalization, with which the CIIE ensures the continuity of supply chains and stimulates consumption.

Share the Market with the World

The Expo is a window to the world and helps create an open world economy. The Expo promotes regional economic cooperation in a broader scope and at higher levels. China has stressed that it is willing to work with other countries to create opportunities through opening up and solve problems through cooperation. By deepening import trade, the Expo will break through bottlenecks in global trade and build an open world economy.

The Expo not only meets consumers’ demand, but also ensures the involvement of international companies in global industrial chain. CIIE’s support for intermediary trade is a concrete step for the strategy to foster global trade growth. The CIIE has provided opportunities for more countries to participate in economic globalization and share the benefits of global development.

China further opens up to the world

The Expo is a major decision of China to promote a new round of opening-up to the outside world and a major initiative to open its market to the world. China had announced pragmatic measures of opening-up at previous sessions of the CIIE. China has advanced its opening-up measures in multiples areas.

China has optimized its business environment, relaxed market access and shortened negative list, improved investment and regulations. China has adhered to the principles of extensive consultation, joint contribution and shared benefits to promote the “Belt and Road” initiative. Despite the Covid-19 pandemic, China and BRI countries will enhance cooperation and opening-up to respond to challenges and promote development.

This year 58 countries and three international organizations attended the Expo in the country pavilion and more than 3,000 enterprises from 127 countries and regions attended the Expo in the business pavilion. The CIIE has provided a platform for global trade. It has shown China’s determination to open up its economy and belief that opening-up and cooperation is a way to overcome difficulties and create a bright future.

Contributed by Ma Tao, researcher for Research Institute of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, Chinese Academy of Social Sciences/researcher for Institute of World Economics and Politics, Chinese Academy of Social Sciences

Translated by Wu Zidan