8th CIIE showcases opening-up

The upcoming eighth China International Import Expo will inject greater certainty and confidence into the global economy through concrete actions, showcasing China's unwavering commitment to high-level opening-up and win-win cooperation with overseas partners, said senior government officials and business leaders on Tuesday.

Speaking at a news conference in Beijing, Vice-Commerce Minister Sheng Qiuping said preparations for the latest CIIE, which will be held in Shanghai from Nov 5 to 10, are nearly complete.

The grand event will feature 4,108 overseas exhibitors from 155 countries, regions and international organizations, with the total exhibition area exceeding 430,000 square meters — with both the number of participants and the exhibition scale setting record highs, said the Ministry of Commerce.

Noting that the CIIE serves as a key platform for foreign firms to observe China's high-standard opening-up and experience its vast market potential, Sheng said that despite mounting global economic headwinds, China's huge market continues to provide strong stability and confidence.

As the world's second-largest import market for 16 consecutive years, China expects its imports of goods and services to exceed $15 trillion during the 14th Five-Year Plan (2021-25) period, he added.

With more than 800 million middle-income consumers projected over the next decade, Sheng said that cumulative intended deals from previous expos, which have surpassed $500 billion, also underscore China's firm commitment to sharing market opportunities with the outside world.

According to the CIIE Bureau, one of the expo's organizers, the trade fair this year will introduce new themes such as the silver economy, ice and snow economy, sports economy and automotive tourism, alongside new platforms for digital and health consumption.

Wu Zhengping, deputy head of the CIIE Bureau, said these efforts aim to stimulate the consumption of goods and services while nurturing new models of consumer spending.

The eighth CIIE itself will see the debut of 461 new products, technologies and services, said the bureau.

Coach, a United States-based fashion brand and a seven-time participant at the CIIE, will make the global debut of new products, including bags and clothing, at the expo.

"We have witnessed the CIIE's growing scale and influence, as well as its positive spillover effects," said Liliana Lucioni, president of Coach China. "We look forward to exploring new opportunities with partners and bringing even more creativity and quality products to Chinese consumers."

French industrial conglomerate Schneider Electric will also showcase a range of China-originated innovations at the CIIE, including solutions for street lighting systems and battery switchboards, bringing Chinese ingenuity to benefit the world.

"Investing more in China means investing in the future," said Yin Zheng, executive vice-president of China and East Asia operations at Schneider Electric, emphasizing that as a key engine of global growth, China is not only a vast and open market and an essential part of global supply chains, but also a hub of world-class innovation.

Yin said that the French company's newly upgraded air circuit breaker will also make its debut at the expo this year.

During the CIIE, this product will officially roll off the production line at the group's plant in Shanghai, marking a true realization of "from production line to the CIIE" and enabling faster responses to the needs of the Chinese market, he added.

The Ministry of Commerce said that enterprises from a total of 123 countries participating in the Belt and Road Initiative have confirmed their participation in the CIIE, increasing by 23.1 percent year-on-year.

China will expand its exhibition space for African products, with the number of African companies participating in the eighth CIIE up 80 percent on a yearly basis.