CIIE opens gateway for world to world exchange

By Xie Jun Source:Global Times Published: 2019/11/2 13:52:14

A line of mascots Jinbao of China International Import Expo (CIIE) are placed at the National Exhibition and Convention Center (Shanghai), the venue of the second China International Import Expo, in Shanghai, east China, Oct. 30, 2019. (Xinhua/Fang Zhe)


The 2nd China International Import Expo (CIIE),  scheduled in Shanghai from November 5 to 10, is set to become more of a "world to world" expo with a surge in the number of overseas buyers, official data released during a CIIE press conference on Saturday showed. 

More than 7,000 overseas buyers will attend the upcoming CIIE, approximately double the number compared to the last CIIE, Assistant Minister of Commerce Ren Hongbin said.

He also said China is confident of importing $30 trillion worth of products in the next 15 years, as the country's importing potentials will be released further.  

In total, there will be more than 500,000 registered buyers at the 2nd CIIE, of which 31 percent are from manufacturing industries and 23 percent are wholesale and retail businesses, he added. 

Equipment manufacturing, science and technology life, and agriculture and food are the three sectors that attract maximum buyers, Ren said.  

According to Ren, each exhibitor has an exhibition area of nearly 90 square meters on average, up from last year's 74 square meters. Companies from the US, Japan, and Germany have the largest exhibition area. 

A total of about 115 companies have already signed up for the 3rd CIIE, Sun Chenghai, deputy head of the CIIE bureau told the Global Times.

The 2nd CIIE is held at a time when trade protectionism continues to sweep the globe with uncertainty looming on the China-US trade friction. 

But Ren was hopeful of China working with all sides to build CIIE into a platform that increases imports and pushes balanced trade development and cooperation.

"The CIIE was initiated by China but is shared by the world... China's market will turn into opportunities for the whole world, and will inject vigor and momentum into the establishment of an open world economy," Ren said. 

He also highlighted that China's imports, market, and consumption have driven the recovery and growth of the world economy, adding China is the "first engine" that pushes the world's economic development. 

Posted in: ECONOMY

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