CIIE proves attraction of an open market: China Daily editorial

Over the past six years, enterprises from home and abroad have unveiled about 2,440 new products, technologies and services at the China International Import Expo, the sixth of which concludes in Shanghai on Friday.

That demonstrates the tremendous significance of the Chinese market, as well as the world’s confidence in the Chinese economy.

China has a population of more than 1.4 billion, including a middle-income group of over 400 million people. More importantly, it is opening up to the world, and is making efforts to ensure there is a fair, equal and nondiscriminatory business environment for all market entities. Along with the government’s measures to foster innovation and high-quality development, the country’s consumer market has tremendous upgrading potential, all of which provide a huge testing ground for new technologies and new products.

After acquiring firsthand experience of the country through the expo, many exhibitors at the CIIE over the past six years have chosen to establish R&D centers in China.

This year marks the 45th anniversary of China launching its reform and opening-up policies. As the success of the CIIE proves, the world’s second-largest economy will continue to promote greater market opportunities, actively expand imports, and implement the national version and the pilot free trade zone version of the cross-border service trade negative list.

As Premier Li Qiang stressed in his address at the opening of the expo, openness and cooperation produce mutual benefits. China is willing to work with other countries to make economic globalization more open, inclusive, balanced and beneficial to all. Rather than being a breaker of rules, China is a champion of rules that are fair and inclusive.

That being said, the country will actively pursue accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement, further relax its market access and align its rules with global norms, and protect the rights and interests of foreign investors in accordance with the law.

In the process, it will firmly uphold the authority and effectiveness of the multilateral trading system, fully participate in the reform of the World Trade Organization,unswervingly promote the stability of the global industry and supply chains, andfirmly oppose unilateralism and protectionism for the common good of the world.

It is committed to working with other countries to break down the barriers that restrict the flow of innovation factors, deepen reforms to nurture the digital economy, and promote the free flow of data in an orderly manner in accordance with the law. In doing so, it will continue to create huge market dividends for the world by advancing its opening-up.

Over the past six years, the expo has not only become an impactful marketplace but also a powerful crucible for new ideas and new paradigms for global cooperation. Its manifest success as a public good for the world is undeniable. In the coming years, it can elevate its function to be a gateway on the path to building a global community of development with a shared future.