CIIE successfully comes to a close, ushers in new chapter of higher-quality opening-up

The first China International Import Expo will come to an end on today, Saturday. Attending the event were 172 countries, regions, and international organizations, more than 3,600 companies with a total exhibition area of 300,000 square meters, and more than 400,000 Chinese and foreign buyers eager to explore business opportunities.

Although no official statistics is available right now, the overseas social media team of People’s Daily has heard from multiple sources that a number of multi-billion-dollar deals were signed as well as many more smaller agreements covering a wide range of sectors including energy, automobile, machinery, and consumer goods and services.

Apart from the deals signed and partnerships established, a “6+365 days” mechanism has been set up to provide a trading platform for companies and buyers who were unable to attend the event and for more quality products and services to touch the lives of ordinary Chinese consumers.

Besides the immediate results and the soon-to-be-felt impact of the Expo, the most important takeaway of this year’s CIIE is perhaps the unmistakable message that China is open for business.

President Xi Jinping reassured the world at the opening ceremony of CIIE that China’s door will never be closed and will only open still wider.

He said: “China will remain a strong advocate of openness at the global level and will continue to act as a stable engine of global growth, a big market with enormous opportunities and an active supporter of global governance reform.”

The message has been well received by international companies who are already vying for prime spots at the second CIIE to be held next year.

“We’re definitely coming back,” several exhibitors excitedly told People’s Daily at the site of the Expo.

According to the organizer of the event, the pre-registration process for the second Expo was launched on July 1 and, as of late October, a large number of companies from many countries and regions have already signed up, among whom many took part in this year’s Expo.

CIIE will be held on an annual basis and will feature good performance, good results, and continued success in the years to come, President Xi said.

The first CIIE represents a crucial moment in China’s opening-up efforts, but it’s only a start to be followed by even more measures to embrace the world and promote common development.

“We will take further steps to lower tariffs, facilitate customs clearance, reduce institutional costs in import, and step up cross-border e-commerce and other new forms and models of business,” the Chinese president announced.

China’s initiative to expand imports is not a choice of expediency, he stressed. “China has a big market of over 1.3 billion people, and it is our sincere commitment to open the Chinese market,” he said.

To broaden opening-up, China has pledged to stimulate the potential for increased imports, continue to broaden market access, foster a world-class business environment, support its pilot free trade zones (FTZ) to deepen reform and innovation, and promote international cooperation at multilateral and bilateral levels.

In a world where the economic and social well-being of countries is increasingly interconnected, an open and developing China is nothing but good news for everyone.