“The Chinese economy is not a pond, but an ocean.” Chinese President Xi’s metaphor in his speech delivered at the opening ceremony of the first China International Import Expo (CIIE) revealed the vastness of China’s economy and inspired the audiences.

The dazzling commodities at exhibition booths, the crowds in exhibition halls, as well as the deals signed at the National Exhibition and Convention Center (Shanghai), were all proofs to the global confidence in Chinese economy and market.

The Chinese market is not just about “speed” and “size”, said Lothar Herrmann, CEO of Siemens Greater China. China is enhancing investment in innovation, and building an eco-system that links government, enterprises and universities, Herrmann noted, adding that the emerging startup companies are also a highlight of China.

“Now, through more interaction and cooperation with China, we are jointly developing future-oriented products, systems and solutions that will not only be brought to China, but also the global market,” Herrmann told People’s Daily, adding that vast opportunities exist in this process.

President Xi said in his speech that “Only with bold innovation and reform can we break the bottlenecks in global growth.” At the CIIE, innovation can be seen everywhere, showcasing the new momentum of China’s economic development to global enterprises.

“I am amazed at the high technologies exhibited by global enterprises at the hall, and it sends a signal that China is yearning for innovation,” said Eric Rondolat, CEO of Signify, the world leader in connected LED products, systems, and services, adding that innovation would bring a larger market.

He told People’s Daily that the number of Signify’s employees in China outruns those in other countries, so they consider Signify a “Chinese company” and will actively integrate into the development of China.

Innovation also created huge business opportunities for Chinese private enterprises. Lu Genxin, CEO of Shanghai-based tech firm Aceistar said that the most advanced artificial intelligence technologies were a major attraction for the company, and people’s demand for a better life meant both business opportunities and motivation for innovation.

The CIIE is a strong signal to the global market that China will open wider and safeguard free trade. It will surely create more opportunities for enterprises, said Angela Zhao, co-president – Real Estate of GLP China.

“Through continuous opening up, China not only developed itself, but also benefited the world,” said Li Meng, chairman of Noble Enterprise S.L.U., a wine enterprise from Spain.

“The steady economic growth, the openness and the ever-growing demand for consumption of China have allowed more development space for Spanish wine industry, and we are very confident about our market and import expansion in China,” he added.

Lithuanian President Dalia Grybauskaitė said at the CIIE that the opening of trade and investment has long been expected, and the world needs such open economy, adding that China has sent a strong message to the world.

International trade is an important tool for each country to develop economy, and the CIIE came at the right time, said Thailand's Deputy Prime Minister Somkid Jatusripitak.

The CIIE will enhance people’s confidence in free trade, especially when the global free trade system is threatened and impacted, Jatusripitak noted, adding that it will also boost the balance of trade between China and other countries, promote common progress and win-win cooperation among countries, and bring common interests for each party.