The seventh China International Import Expo (CIIE) successfully highlighted global innovation and cooperation, securing a remarkable $80.01 billion in tentative deals for one-year purchases of goods and services. This marks a 2 percent increase over last year.
Held from November 5 to 10, the CIIE attracted 3,496 exhibitors from 129 countries and regions. Notably, 186 enterprises and institutions participated in all seven editions of the expo, while many others joined for the first time, underscoring the event's growing appeal.
For multinational corporations aiming to maintain a strong presence in the Chinese mainland, China remains a pivotal destination for trade and investment. Li Jingcheng, Vice President of Asia Strategy and Business Development for global automotive company FORVIA, highlighted that revenue from the new energy vehicle (NEV) sector accounts for 45 percent of FORVIA's total earnings in China. \"In FORVIA's global strategy, China has consistently been one of the most important markets,\" Li stated.
He further emphasized China's position as the world's largest automotive market for 14 consecutive years and its role in setting global trends, particularly in the NEV sector. \"We hope to channel global innovation resources into China and plan to establish a global R&D center here within the next two to three years,\" Li added.
A research report from one of the CIIE's official forums revealed that the CIIE's spillover effect index has surged by 169 percent from the first CIIE in 2018 to the sixth in 2023. \"The impact of the CIIE goes far beyond the expo itself; its spillover effect has deeply influenced international procurement, consumption upgrades, investment promotion, cultural exchange, and open cooperation,\" noted Li Qingjuan, Director of the Think Tank Center at Fanhai International School of Finance of Fudan University. \"It has become a crucial driver in China's efforts to accelerate the creation of a new development pattern and pursue high-quality development.\"
Looking ahead, recruitment for CIIE 2025 commenced in July, with eighty enterprises and organizations, including Mercedes-Benz, Zeiss, Estée Lauder, Bayer, and the Singapore Business Federation, already signed up for the eighth CIIE next year. These participants have reserved nearly 50,000 square meters of exhibition space, showcasing the strong confidence global businesses have in the event.
Reference(s):
cgtn.com
