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SHANGHAI. – The fifth China International Import Expo (CIIE) concluded in Shanghai yesterday, with a total of US$73,5 billion worth of tentative deals reached for one-year purchases of goods and services.
The figure represented an increase of 3,9 percent from that of last year, Sun Chenghai, deputy director of the CIIE Bureau, told a press conference.
A total of 145 countries, regions and international organizations attended the expo, Sun said, adding that more than 2,800 enterprises from 127 countries and regions participated in the business exhibition, showcasing 438 new products, technologies and services.
There were 284 Fortune 500 companies and corporate giants among the participants, the official said.
Registration for the sixth CIIE has begun, with over 100 000 square meters of the business exhibition area already booked.
The CIIE is the world’s first national-level import expo. It was held from November 5 to 10 this year in Shanghai.
The successful event, held during Covid-19 epidemic flare-ups, sends a strong positive signal to the world about China’s vast opportunities, economic resilience and willingness on cooperation, experts and participants at the fair have said.
Against the backdrop of anti-globalization headwinds, participants said the event has met with their expectations in terms of providing them with fresh business opportunities, getting to know Chinese customers and people-to-people exchanges, and they said that the event has made them full of confidence in China’s commitment to further opening up its economy amid an economic upgrade.
The major trade fair, with its fifth edition boasting more participating countries and regions, more diverse exhibits and more premium products, saw deals worth over US$73,5 billion inked, up 3.9 percent year-on-year, Sun Chenghai, deputy director of CIIE Bureau, said yesterday.
The 2022 CIIE is the first major international expo held in China after the successful conclusion of the 20th National Congress of the Communist Party of China (CPC), and it comes on the heels of a flurry of diplomatic events that saw the leaders of Vietnam, Pakistan, Tanzania and Germany visiting China.
It struck a high note of China’s opening-up in the new era and underlined China’s unswerving commitment to creating new opportunities for the world through its own development, as the world faces a lingering pandemic, energy crisis, and growing trend of anti-globalization and trade protectionism, experts said.
Representatives from 145 countries, regions and international organisations participated in the expo. More than 2 800 companies from 127 countries and regions attended, bringing with them a total of 438 new products, technologies and services for debut.
A total of 284 out of the world’s top 500 enterprises and industry leading companies attended this year’s CIIE while 48 centrally administered state-owned enterprise (SOEs) held a collective deal-signing ceremony.
The US once again sent the largest country delegation, with 200 companies attending, and a swath of German companies exhibited their products at the show.
More and more global companies and investors have come to see the CIIE as the place to connect with China for further opportunities and to enjoy the fruits of China’s economic development.
The world is being ravaged by the pandemic, the impact of the Russia-Ukraine conflict and soaring energy prices.
In its latest world economic outlook, the IMF downgraded global growth to a meagre 2.7 percent for 2023, down from the 2.9percent it projected in July.
Wilson Ho, vice president of US-based software company SAS, said that as the world faces anti-globalisation headwinds and the pandemic continues to batter the economy, the world sorely needs an opportunity and a platform to break the conundrum.
“Each year’s CIIE is a vital platform for China’s continuous opening-up. For MNCs, CIIE is a fabulous platform to showcase their brands.
Conversely, we can also say MNCs are increasingly looking at the CIIE,” Ho said. SAS inked a deal at this CIIE with a Shanghai company to develop big data and foster artificial intelligence talents in the Yangtze River Delta.
Gao Shiwang, a director with the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, said that CIIE has become a well-known venue where China’s SOEs, Chinese local governments and multinational companies can meet and sign deals in a collective fashion. Gao has come to the CIIE for five consecutive years.
According to Sun, a total of 293 trade and investment agreements, valued at $5.9 billion, were also inked at the CIIE. – Xinhua-Global Times
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