Xi steers import expo into global platform for sharing Chinese opportunities

A PUBLIC GOOD

In today's world, confronted with accelerated changes unseen in a century and a sluggish economic recovery, the five consecutive editions of the CIIE have brought sustained positive momentum to the global economy.

The expo has promoted extensive matchmaking between exhibitors and buyers, strengthened the confidence of foreign investors, and bolstered economic and social development.

Data show that, from 2018 to 2021, exhibitors at the four editions of the CIIE launched more than 1,500 new products, technologies and services, with a total tentative turnover exceeding 270 billion dollars.

Over the years, China's foreign trade has continued to grow. In the first 10 months of 2022, its foreign trade of goods was 34.62 trillion yuan (about $4.78 trillion), an increase of 9.5 percent from 2021.

"We need to promote development through opening-up and deepen exchanges and cooperation among us. We need to 'join hands' with each other instead of 'letting go' of each other's hands. We need to 'tear down walls,' not to 'erect walls.' We need to stand firm against protectionism and unilateralism," Xi said at the second CIIE in 2019.

American companies are heavily invested in the CIIE and are pleased with the results of their investments, said US-China Business Council President Craig Allen. Allen added that it is a great place to meet Chinese buyers, government officials, suppliers and friends from all over China.

Noting that China has produced about 30 percent of global growth over the past 10 years, Allen said American firms are interested in all elements of the Chinese economy and want to sell into every segment.