The fifth China International Import Expo will take place from November 5-10 this year.
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The fifth China International Import Expo will take place from November 5-10 this year. (Graphic: Business Wire)
Buoyed by its opening-up policy, continuous optimization of the business environment and strong economic resilience, China will remain a hot investment destination in the years to come, said global experts at the World Economic Forum (WEF) 2022 in Davos, Switzerland.
China's stable economic growth is of great significance to a global recovery, WEF President Borge Brende said in a recent interview. "So long and medium term, I'm quite bullish on China's economy," said the president.
In addition to China's own economic size, business leaders also agreed that China's approach and commitment to globalization also matter. Chinese leaders have repeatedly reaffirmed commitment to economic globalization and free trade, including during speeches at the WEF.
A major platform for international procurement, investment promotion, cultural exchanges and open cooperation, the China International Import Expo (CIIE) has been successfully held for four consecutive years and is widely regarded as an international public good for economic globalization and multilateral trading system, as well as a pivotal carrier for building an open world economy and a community with a shared future for mankind.
Since its inception in 2018, the expo has been growing in scale and influence. For example, the area of its business exhibition increased from 270,000 square meters in 2018 to 366,000 square meters in 2021, while the first three editions have helped channel about $30.5 billion in foreign investment into 622 projects.
According to a report on the business exhibition of the fourth CIIE, which took place from November 5-10, 2021, more than 2,900 companies from 127 countries and regions participated in the exhibition. Among them, 622 companies are from countries along the Belt and Road while 125 are from Central and Eastern Europe and 87 are from Africa. Companies from about 30 least developed countries were provided with free booths at the fourth CIIE.
The report also shows that 274 industry-leading companies, some of which are on the Global 500 list, attended last year's expo. During the fourth CIIE, $70.72 billion worth of tentative deals were clinched.
As the CIIE enters its fifth year, multinational exhibitors have continued to express hope in participating in the fifth edition of the trade fair in November.
At an online meeting held by the CIIE Bureau recently, 15 high-profile corporate executives from different industrial committees of the CIIE Enterprise Alliance expressed confidence in Shanghai's anti-epidemic fight and the resilience of the Chinese market.
"Facing changes unseen in a century, we see that China has never stopped the pace of implementing opening-up when confronting challenges of the pandemic or the turbulence of the global situation. It has steadily advanced the annual CIIE, which provides broader opportunities for industry exchanges and stronger confidence," said Jean-Christophe Pointeau, president of Pfizer Biopharmaceuticals Group China during the online meeting.
Pointeau added that Pfizer's products became more accessible to ordinary people in China and brought benefits to many Chinese patients through the annual expo.
Despite the ongoing COVID-19 pandemic, the fifth CIIE will be held from November 5 to 10 this year as scheduled.
The CIIE Bureau recently released several favorable measures to help exhibitors overcome difficulties in production and operation caused by the COVID-19 pandemic and other factors.
For example, exhibitors that set up their own booths will be entitled to a 300-yuan ($45.14) subsidy for each square meter of their exhibition space. The subsidies, which shall be no more than the cost of setting up the booth, can be redeemed directly or used to offset booth fees at the sixth CIIE or costs incurred during the fifth CIIE, including costs for forums, activities, hotels and advertisements.
The registration deadline for the fifth CIIE has also been extended to July 31, 2022.
To date, more than 75 percent of the planned exhibition space of the 5th CIIE has been reserved. More than 250 Fortune Global 500 companies and industry leaders, as well as most of the world's top 10 companies in the pharmaceutical, medical equipment and automobile industries have confirmed their participation in the expo.
Opening-up is the hallmark of contemporary China. The CIIE demonstrates China's resolve to expand high-level opening up, share development opportunities with the world and make economic globalization more open, inclusive, balanced and beneficial for all.
It is time to seize the myriad opportunities in the Chinese market through the CIIE. Be sure to sign up for the fifth edition this year. Click here to register: https://www.ciie.org/exhibition/f/book/register?locale=en&from=enpress