China’s grand import expo draws world attention with foreign businesses optimistic about vast market opportunities

As the whistle sounded, a train loaded with goods slowly arrived at Minhang Station in Shanghai on October 20, marking the arrival of this year's first "Jinbo" China-Europe freight train. The train signals the approach of the 7th China International Import Expo (CIIE), the world's largest import expo, which will be held in Shanghai from November 5 to 10.

"Jinbo" is short for CIIE in Chinese. The train, which traveled more than 11,000 kilometers over 21 days, is loaded with 76 twenty-foot equivalent units of containers of goods valued at about 100 million yuan ($14.04 million), including cosmetics and mechanical equipment, the Xinhua News Agency reported.

This was the fourth consecutive year that CIIE exhibition products were transported to Shanghai via the China-Europe freight train service, which serves as a clear example of the growing opportunities the import expo has provided to businesses worldwide, Xinhua reported.

While there are still a few days before the opening, this year's CIIE is expected to surpass last year's record for participating countries and regions as well as enterprises, according to China's Ministry of Commerce (MOFCOM) last week.

The exhibition for enterprises at the CIIE maintains an expansive scale of over 360,000 square meters, with a total of 3,496 exhibitors from 129 countries and regions participating in the event, said the MOFCOM. The number of participating countries and regions as well as companies exceeded the previous edition in 2023, with 297 Fortune Global 500 companies and industry-leading companies participating in the event, a record high, according to the MOFCOM.

Through hosting the grand import expo, China has once again demonstrated its commitment to sustained, high-quality opening-up, while creating significant opportunities for the global market and sharing the benefits of its development with the world, Song Wei, a professor at the School of International Relations and Diplomacy at Beijing Foreign Studies University, told the Global Times.

Optimistic tones

Foreign countries and businesses from around the world are showing great interest in participating in this year's expo, with many already making early preparations to present themselves at the event.

Denmark is set to make a significant appearance at the upcoming expo highlighting its wide range of offerings for the seventh consecutive year.

This November, spearheaded by the Confederation of Danish Industry, the country's major business organization, Denmark will enhance its participation at this significant trade fair with the presence of two national pavilions, according to the press release from the Danish Embassy in Beijing.

In addition to the well-established Food Pavilion, which has already become a fundamental component of Denmark's presence at the CIIE, a new Health &Life Science Pavilion will showcase Denmark's dedication to innovation and public health.

"China and Denmark are important trading partners. Our strong presence at the CIIE is exactly a testament to such trade relations. By displaying our green solutions and developing sustainable businesses in the Chinese market, we are able to further consolidate our cooperation with China within the green transition," said Danish Ambassador to China, Michael Starbæk Christensen in the press release.

Alongside the two national pavilions, additional Danish expertise will be showcased through individual booths of nine companies, representing sectors ranging from energy and water management to design, consumer goods, and food, according to the embassy.

Foreign businesses have also expressed optimism about the new opportunities presented by the CIIE. They also shared their excitement about being part of this grand expo, in which many have participated for several years.

Among them, including the German multinational pharmaceutical and biotechnology company Bayer. The company has attended this expo for seven years in a row since the beginning. This year, the total area of the company's booth will expand by 14 percent based on that of 2023, reaching a record high of 800 square meters, the company said in a press release sent to the Global Times.

"Having operated in the Chinese market for over 140 years, Bayer witnessed China's rapid development with each passing day and the company's business also posted stable growth. Bayer deems the Chinese market pivotal within its global strategic landscape," the company said.

Seizing new opportunities in the sustained development of the healthcare and agriculture sectors, the German company stated it continues to step up innovation investments and firmly supports its commitment to the Chinese market.

This year, international express delivery giant FedEx will also continue to participate in the CIIE. In a statement sent to the Global Times, FedEx highlighted the CIIE as an important platform to expand trade opportunities and deepen cooperation and exchanges.

At this year's expo, FedEx said that FedEx plans to showcase its 40-year journey of development since entering the Chinese market, "reaffirming its unwavering support for global trade, and highlighting its commitment to China's development."

The enthusiasm of foreign countries and enterprises to participate in this year's CIIE reflects their sustaining confidence in the Chinese market and economy, as well as their growing desire to engage in China's high-quality development, Song said.

New impetus

As the Belt and Road Initiative (BRI) has entered a new phase focused on high-quality development after marking its 10th-anniversary last year, the CIIE is expected to provide fresh momentum to the initiative, as it has become a platform of opportunities for the partner countries, experts said.

"The expo offers important opportunities for countries and regions in joint construction of the BRI, especially the developing and least developed nations, to enhance their exports to China... This enables these countries to unlock their independent development potential through trade, promoting their gradual economic recovery amid the current global economic downturn," Song said.

Notably, this year, China has introduced various preferential policies in trade facilitation for other countries, including zero-tariff treatment to 100 percent of tariff items of products from all least-developed countries that have established diplomatic relations with China.

Song said that coupled with favorable trade policies, the CIIE offers these countries a direct platform to showcase their quality products, which can substantially increase exports from developing nations to China while providing Chinese consumers with a greater variety of choices.