Expo mirrors vision of openness, trade partnerships

The recently concluded seventh China International Import Expo in Shanghai was a reflection of the ethos of the ancient Silk Road route that connected people, ideas, economies, cultures, civilizations and products, brightening the chances of greater connectivity, prosperity and openness, while promoting equitable, fair and free economic globalization and international cooperation.

The latest trade fair further highlighted China's strong commitment to opening-up, modernization and global cooperation.

The expo represented a gateway for translating China's vast market into great opportunities for the world, in line with President Xi Jinping's vision of shared global prosperity, trans-regional connectivity, and greater opening-up and cooperation.

Foreign leaders and heads of international organizations have termed the CIIE an important international platform for promoting trade and investment. This highlights their confidence in the Chinese economy and its prospects, as well as the willingness to advance partnerships with China in multiple spheres, including the economy, investment, trade, connectivity and green development.

Critical analysis and comparative studies show that the CIIE has become an effective platform in promoting the accessibility of international trade for all and in connecting the hubs of global development, security and civilizational initiatives.

Over its first six editions, the CIIE facilitated deals worth a combined $420 billion, helping over 1,130 foreign enterprises and investment promotion organizations to forge connections across China.

This showed the country's inbuilt economic innovation, expansion of consumer market and products, and attraction as an investment and business destination, not to mention its major role in the world economy.

Remarkably, the participation of a record-breaking 297 Fortune Global 500 companies and industry leaders at the seventh CIIE, with 186 companies and organizations joining for the seventh consecutive year, reflects China's economic prowess, supply chain strength, high-quality industrialization and, above all, its firm belief in openness and modernization.

Moreover, the participation of 39 government procurement delegations and four industry procurement delegations, a total of 780 trade subgroups, marked a historic high at the seventh CIIE, reaffirming China's role in the global economy, commerce, business, manufacturing, green technologies, hybrid agriculture and government-to-government, business-to-business and people-to-people connectivity.

The CIIE has become the ultimate showcase of international trade groups gathering at the world's first import-themed national-level expo, fostering global economic collaboration and tapping the potential of the Chinese market for opportunities.

It has also become an ideal hub for trans-regional integration of markets, ideas and innovations, successfully translating exhibited items into commercial opportunities and deals. It has become a gateway to China's vast market for international investors and businessmen, unleashing the dividends of openness and sharing China's new development opportunities with the rest of the world.

China's inclusiveness, openness and vision of shared prosperity has seen exhibitors from 37 least developed countries getting free exhibition booths at the latest CIIE, helping expand the African products zone.

Making the CIIE more interactive, productive and informative, events themed around "sustainable development driven by new quality productive forces" were held for the first time. Augmented reality experiences, artificial intelligence-powered robots, an astronomical satellite model and other cutting-edge technologies were on display to explore pathways to green and sustainable development.

The CIIE epitomizes China's inclusive and innovative opening-up, with the nation's numerous policies helping spur international trade and investments.

It has multiple socioeconomic effects in terms of promoting international procurement, attracting foreign investment inflows, boosting exchanges of commercial ideas and people-to-people exchanges, and supporting China's wider opening-up to international goods.

China's safeguarding of the multilateral trading system with the World Trade Organization at its core further supports developing countries in sharing more benefits of globalization.

The country's readiness to continue close coordination and cooperation with all stakeholders in international economic organizations and its efforts to promote the implementation of the Investment Facilitation for Development Agreement and advancement of the cause of an open world economy will help build bridges of mutual trust and boost economic cooperation, cross-border investments, joint ventures and globalization.

That stands in contrast to the protectionism and the sanctions/tariffs gameplay of the United States, moves that could gain more traction now following the US presidential election early this month.

The world has a chance for hope, betterment, welfare, stability and further integration because of the Chinese economy's resilience, diversification, innovation, openness and modernization, as it promotes steady economic growth and contributes to global development and the welfare of humanity.

The author is president of the Center of Pak-China Corridor of Knowledge and executive director of the Center for South Asia& International Studies in Islamabad, Pakistan. The views do not necessarily reflect those of China Daily.