How import expo became nation's shared public product

To fully understand and appreciate the scale of the China International Import Expo, physical attendance, even though it may be tiring, is essential.

For journalists, it could be a challenge scampering from one corner of the vast venue in Shanghai to another for an interview, and then scurrying back to attend a forum starting in the next minute. A pair of sneakers could help keep soles and feet from disintegrating due to overuse.

The sixth CIIE, which concluded on Nov 10 at the National Exhibition and Convention Center (Shanghai), set a new record for intended transactions on an annual basis. Over 3,400 global companies participated, marking historic highs in both the number of exhibitors and exhibition area. The presence of Fortune Global 500 companies reached more than 280, surpassing previous levels. That meant the challenge of offering comprehensive multimedia coverage, often in real time, became stiffer for journalists.

Beyond expressing astonishment at the overwhelming number of visitors at the venue, many global executives remarked that the grand event has evolved into another internationally shared public product made in China. This plays an indispensable and prominent role in upholding the stability of global industrial and supply chains while fostering open cooperation on a global scale.

Amid the intricate and evolving external landscape, the CIIE's "circle of friends" has consistently expanded, and its functionalities have diversified, garnering growing popularity over the past few years. Aligned with China's unwavering development and expanding openness, the CIIE has progressed, effectively enabling the global community to tap into the vast Chinese market and explore new opportunities within the country.

From an internal perspective, the CIIE contributes to the Chinese economy in two key ways. First, it provides new opportunities for China's imports. By introducing high-quality global goods and services, the CIIE promotes consumption and industrial upgrades in China.

Second, the CIIE offers Chinese businesses the chance to communicate and collaborate with top global companies, aiding them in expanding international markets and enhancing brand influence.

Now for the external view. The CIIE plays a crucial role in advancing the global economy. On the one hand, it creates a wider market for global goods and services. Drawing on global companies to showcase their offerings in China, the CIIE facilitates the integration of the Chinese market with the world, presenting increased sales opportunities for global products and services.

Moreover, the CIIE energizes global economic cooperation. During the expo, businesses from various countries can engage in in-depth exchanges and collaborations, collectively exploring new business models and innovative directions, fostering global economic development toward a more open, inclusive and beneficial direction.

For example, a number of multinational corporations, such as Tapestry Inc, the US-based luxury goods group, Germany's Mercedes-Benz Group AG and Japan's Toyota Motor, have already signed deals to participate in the seventh CIIE next year, further indicating that the expo has become a crucial engine for the growth of the Chinese economy and presenting attractive opportunities for global companies.

Apparently, these multinationals recognize that China's initiative to promote businesses for elevating product quality, enhancing technological content and fostering independent innovation capabilities is conducive to achieving high-quality development. This is evident in the ongoing increase in demand for superior imports, including high-tech products and manufactured goods.

They have also stepped up product development and commercialization to fully exploit the Chinese market, as many foreign business leaders have been impressed by the "China speed" demonstrated in both growth and innovation, as highlighted during the expo.

As a window on China's foreign trade and strengths in attracting global capital, the CIIE has revealed the enormous potential and dynamics of the Chinese market.

To address challenges like global economic uncertainty, regional conflicts and supply chain realignments, China must implement proactive measures to ensure the continuous and stable development of its foreign trade and create a business-friendly environment.

The country's commitment to deepening its openness to the rest of the world and promoting high-quality development, along with the application of technology in both innovation and green fields, will further enable its economy to adapt to the constantly changing international trade environment in a better way.