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First China International Import Expo (CIIE) Opened in Shanghai

Time: 2018-11-05 Source : PRATIC

This morning, the first China International Import Expo(CIIE) opened and President Xi Jinping delivered a keynote speech at the opening ceremony.

CIIE is hosted by China Ministry of Commerce and Shanghai Municipality, and it is a "trail-blazing" move in the history of international trade development. The CIIE is the first-ever import-themed national-level expo.

More than 3,000 enterprises from more than 130 countries and regions are attending the expo, and more than 5,000 kinds of commodities will be exhibited for the first time in China, highlighting the benefits of economic globalization.

That many enterprises from countries along the Silk Road Economic Belt and the 21st Century Maritime Silk Road are taking part in the expo, with some from the least developed African countries showing their exports for free, also makes the event a window by which the world can see the world.

CIIE also attracted more than 200 enterprises of the FORTUNE GLOBAL 500 and the leading enterprises of many countries. CIIE also caused a positive response among many U.S. companies. There are more than 180 U.S. companies attended CIIE, which ranks third among all attending countries. Qualcomm, General Electric, Johnson & Johnson, General Motors, Dupont and so on all attend CIIE. It is reported that the exhibiting companies including the US exhibitors are considering to establish the exhibitors union.

In a telephone conversation with US President Donald Trump on Thursday, China President Xi Jinping said the expo has shown China's willingness to increase imports and further expand its opening-up, and he is glad to see many US companies enthusiastically participate in the event.

China now has more than 300 million middle class consumers, and the number will double in a decade or two, which will be twice that of the United States, and threefold that of the European Union. Last year, China contributed 30 percent of the world's economic growth. That China increases imports to meet people's demands and propel its continued developmentit expects to import more than $10 trillion worth of goods and services in five yearswill benefit companies from around the world and help stoke the global economy.

The event, which runs to Saturday, is being held when China celebrates the 40th anniversary of its reform and opening-up, and reflects China's transformation from being the world's factory to being the main market for the world.

History will tell that this expo was a milestone signaling that China was on the way to becoming the world's largest import and consumer market, and that countries around the world would share the dividends of China's continued reform and opening-up.

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