Commentary: CIIE presents huge boon for world economy

Source: Xinhuanet| 2019-11-08 16:50:23|Editor: Lu Hui
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People watch welding robots operating at the Equipment exhibition area during the second China International Import Expo (CIIE) in Shanghai, east China, Nov. 6, 2019. The National Exhibition and Convention Center in Shanghai greeted a large number of visitors on the second day of the CIIE. (Xinhua/Fang Zhe)

By Lu Hui

BEIJING, Nov. 8 (Xinhuanet) -- In face of world economic downward pressure and rising protectionism, the current China International Import Expo (CIIE) embodies China's determination to further open up.

It will help promote economic and trade exchanges and cooperation among countries, and boost the international trade and world economic growth.

In a short time of two years, the CIIE, a brainchild of Chinese President Xi Jinping, has quickly attracted wide participation of countries and enterprises, becoming a major initiative in the history of global trade.

Compared with last year, this year's event has attracted more participants. It hosts nearly 4,000 companies from 155 countries and regions and is expected to attract 500,000 buyers and visitors. Its exhibition space area is increased by 60,000 square meters to reach 360,000.

The enthusiasm of participants fully demonstrates the high recognition and expectation of the international community and also strongly proves the attractiveness of the vast Chinese market.

The CIIE releases great dividends of "buying from the world and benefiting the world."

As China has a market of 1.4 billion people, with the biggest middle-income population in the world, the CIIE is a good opportunity for the world to tap tremendous potential and ride on China's fast train of economic development.

Through the CIIE, the foreign exhibitors can fervently compete to showcase their prime products and best services.

At the same time, the expo will enable the Chinese enterprises to get access to the cutting-edge technologies and new concepts and to have more import channels to stimulate their development and industrial upgrading.

For average Chinese consumers, the CIIE will meet their demands for a better life as their shopping carts are getting filled with branded foreign goods.

Currently, the world economy and global trade stand at a historic crossroads.

In the face of the high wall of trade protectionism erected by certain countries, China's move to expand opening up sends a strong signal about promoting economic globalization and trade liberalization to achieve mutually beneficial and win-win outcomes.

In the past five years, China has contributed 22.7 percent to global import growth and has become an increasingly important economic driving engine.

"Economic globalization represents the trend of history. Like the world's great rivers, the Yangtze, the Nile, the Amazon and the Danube -- they all surge forward in relentless flow, and nothing can stop their mighty movement," President Xi said at the opening ceremony of the second China International Import Expo.

He outlined five measures to promote higher-level opening up -- continuing to open up its market, improve its opening-up structure, optimize the business environment, deepen multilateral and bilateral cooperation, and advance Belt and Road cooperation.

Global trade will greatly benefit from China's commitment to an open world economy.

"Standing at a new historical starting point, China will open its door only wider to the world, " Xi said.

By reaching out its arms and embracing the world, China will bring more opportunities and vitality to all countries.

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