第三届进博会正激荡起中国经济“大海”的澎湃动力 - 2020-12-04

The third China International Import Expo (CIIE) saw US$72.62 billion worth of deals signed, marking a new record in economic and trade cooperation. The outstanding achievements once again testify to the fact that China’s economy is a vast ocean. Just like the ocean remains there, China is always there. It deserves special mention that the third CIIE, which was held amid the accelerating construction of a new development pattern, perfectly interprets the dialectical relationship and positive effects of the domestic and international economic cycles.
The 5th plenary session of 19th CPC Central Committee explicitly stated that it is necessary to accelerate the construction of a new development pattern in which domestic economic cycle plays a leading role while international economic cycle remains its extension and supplement, and major deployments have been made. General Secretary Xi Jinping repeatedly stresses that the focus on the domestic market is by no means a closed domestic loop. China will open its door wider to the outside world. “China’s aim is to turn the Chinese market into a market for the world, a market shared by all, and a market accessible to all.” The CIIE is an inclusive and open cooperation platform built by China to promote common development by expanding the opening-up of its market, as well as a convenient green channel between goods, services and the Chinese market. It serves as a policy announcement, showcasing China’s firm commitment to forging ahead with opening-up and expanding imports. In recent years, with anti-globalization thoughts such as the “end of globalization” and “decoupling” on the rise, China has not only been unswervingly expanding its opening-up to the outside world, but also been actively contributing its wisdom and power to global opening-up. It has subsequently launched international public products such as the “Belt and Road” Initiative, Asian Infrastructure Investment Bank, and China-Europe Railway Express, creating new demands and injecting new momentum into rebalancing regional and world economies.
High-level opening-up results in high-quality development. The CIIE has become an important platform for investment promotion and industrial upgrading in China. Numerous high-quality exhibits and projects have been launched one after another, while many exhibitors have become investors. As the restructuring of global industrial chain and supply chain is speeding up, the CIIE has convinced multinational companies of China’s determination and sincerity to expand opening-up. Therefore, they have a bullish view on the Chinese market and chosen to further integrate themselves into China’s industrial ecology. As more and more high-quality imports become a part of ordinary people’s daily lives, in order to better meet the diversified and individual needs of domestic consumers, many multinational companies take the initiative to transform from “made in China” to “made for China (customized).” Apart from holding the CIIE, China has been reducing the institutional cost of imports. Such services as “North American lobsters delivered in 48 hours” and “New Zealand fresh milk delivered in 72 hours” stand as a testament to the upgrading of China’s opening-up. Focusing on “turning exhibits into commodities,” many trade facilitation policies and measures have been tailor-made and widely adopted, thus making the CIIE an important window to showcase the achievements of China’s institution-based opening-up.
The Chinese platform contributes to the development of an open world economy. By participating in the CIIE, many multinational companies have seen a sales surge in the Chinese market, enhancement of brand value, and accelerated penetration into lower-tier cities (two ups and one down”). Many developing and underdeveloped countries have gained access to a green channel to expand exports to China. The platform effect of the CIIE enables small and micro enterprises, niche exhibits, and even the smallest booths to attract much market attention. The growth of demands in the Chinese market offers a big stage for high-quality and featured products in many countries, and changed the original trade path with Europe and America as the main export markets, which will enlarge the pie of global trade and development, and make economic globalization inclusive, balanced and beneficial for all. The Hongqiao International Economic Forum provides a platform for participants to discuss frontier issues about world economy, and strengthen communication on economic and trade policies, as well as a window for them to learn about China’s new opening-up measures in a timely manner, and jointly contribute their wisdom to the global economic development.
A domestic market with tremendous consumption demands, a huge population of 1.4 billion, and 400 million middle-income people is rising rapidly. The CIIE has manifested China’s determination to expand imports to such fields as high-end manufacturing, advanced service industry, daily consumer goods, high-quality agricultural products and resource products, resulting in large, stable and sustainable demands for products and services of other countries. In the next 10 years, China’s cumulative merchandise imports are expected to exceed US$22 trillion. For other countries, this will not only create considerable trade income and promote long-term development, but also create an increasing number of new jobs and substantially improve people’s livelihood.
Nowadays, China has become a large market with the greatest potential. Registering long-term, stable growth with higher quality, China will surely increase the spill-over effects of the CIIE and create new miracles that will surprise the rest of the world.
 
Author: Zou Lei, Director of Opening-Up Strategy Research Center of Shanghai Party Institute of CPC, and Researcher of Shanghai Research Center for Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era