The seventh China International Import Expo (CIIE) is making waves this year, embodying the spirit of globalization amidst rising protectionist trends. Chinese Premier Li Qiang, during his keynote address at the opening ceremony, emphasized the critical need to uphold, expand, and upgrade China's open-door policy. He stated that this approach is essential for fostering lasting peace, stability, development, and prosperity in a world increasingly challenged by unilateralism and backlash against globalization.
Over its six previous editions, the CIIE has been a cornerstone of China's economic journey, featuring companies from 173 countries and regions. These expos have facilitated transactions exceeding $424 billion and have showcased over 2,400 new products, technologies, and services each year. This year, the expo is set to break records once again, with participation from 152 countries, regions, and international organizations, and the attendance of 297 Fortune 500 companies and industry leaders.
For international businesses, the CIIE presents an unparalleled opportunity to enter or expand within one of the world's largest and fastest-growing consumer markets. Last year’s expo saw the largest-ever delegation from the United States, including over 200 companies like Ford and Tesla. This move highlights a strategic shift as these companies seek to align their interests with China's development, distancing themselves from their home countries' protectionist policies.
Beyond economic transactions, the CIIE serves as a vibrant platform for innovation and cultural exchange. The 2024 Investment Promotion Conference, held in support of this year's expo, attracted consular officials from Argentina, Mexico, and the Czech Republic, alongside delegates from foreign investment promotion agencies. This event underscores the global trust in China's openness and the eagerness of foreign investors to engage with the Chinese market.
The Enterprise and Business Exhibition remains a cornerstone of the CIIE, featuring six major areas including an Innovation Incubation Special Section. This initiative provides small and medium-sized enterprises from both developed and developing nations an equal opportunity to showcase their innovations and promote their products, fostering a level playing field for all participants.
In a complex geopolitical landscape marked by escalating regional conflicts, particularly in the Middle East, the CIIE stands as a beacon of cooperation and mutual coexistence. By facilitating cross-cultural interactions and transnational harmony, the expo contributes significantly to global stability, development, and prosperity. As nations and companies seek to navigate these challenging times, the CIIE offers a treasured opportunity to collaborate and thrive in one of the world's most dynamic markets.
Reference(s):
CIIE: A symbol of globalization and an antithesis of protectionism
cgtn.com
