A glimpse of China’s high-level opening up through the 7th CIIE - 2024-11-03
The 7th China International Import Expo (hereinafter referred to as “CIIE”) will be held in Shanghai from November 5 to 10, 2024. This is a major economic and diplomatic event after the Third Plenary Session of the 20th CPC Central Committee. The CIIE can provide opportunities for exchanges and cooperation for enterprises from various countries, facilitate economic recovery, enhance international understanding and trust, and contribute to the stability and development of global economy. Overall, the convening of the 7th CIIE reflects the continuity, inclusiveness and timeliness of China’s opening up.
First, the continuity of opening up. Since the first China International Import Expo in 2018, China has held six sessions consecutively. Against the background of major adjustments in the global economic and trade situation, China has always adhered to the concept of expanding the opening up of the Chinese market, reflecting the continuity of opening up and the consistency of relevant policies. This is highly consistent with the requirements put forward in the Resolution of the Third Plenary Session of the 20th CPC Central Committee, “We must remain committed to the basic state policy of opening to the outside world and continue to promote reform through opening up. Leveraging the strengths of China’s enormous market, we will enhance our capacity for opening up while expanding cooperation with other countries and developing new institutions for a higher-standard open economy.” This shows that no matter how the international economic and trade situation changes, China will open its door wider to the outside world.
Second, openness and inclusiveness of opening up. The Resolution of the Third Plenary Session of the 20th CPC Central Committee proposed to expand unilateral opening to the least developed countries. In this regard, the CIIE 2024 will provide support for 37 least developed countries to participate in national and corporate exhibitions, expand the African product zone to enhance unilateral opening to the least developed countries, and implement the concept of inclusiveness and shared benefits with practical actions. On the one hand, this will help enterprises from the least developed countries enter the Chinese market through the CIIE, promote economic growth and industrial development, and strengthen international cooperation; on the other hand, it also demonstrates China’s position of adhering to supporting the least developed countries on behalf of relevant developing countries. These measures can promote South-South cooperation, enhance the participation of the least developed countries in global trade, and reflect China’s responsibility in global economic governance.
Third, the timeliness of opening up. The joint development of digital and green trade is an important feature of the current global economic development. The combination of the two not only reflects the urgent need of countries around the world for technological progress and environmental protection but also brings new opportunities and challenges to the development of global trade. In addition to the six exhibition areas, the CIIE 2024 will continue to set up an innovation incubation special section. It will curate exhibitions on four major tracks - digital economy track, green and low-carbon track, life sciences track, and manufacturing technology track for the first time. It will focus on displaying about 360 innovative projects, which is a record high. Actively incorporating and highlighting the elements of digital economy and green and low-carbon development in the CIIE will help domestic and foreign enterprises actively adapt to the new trend of digital and green trade, and achieve sustainable development goals by using digital technology to improve the efficiency of green supply chains. This reflects the timeliness of the high-level opening of the CIIE.
With the continuous integration of the global economy, the CIIE will continue to serve as an important platform for countries to show their products and services. This not only facilitates China’s import growth but also provides more opportunities for international enterprises to explore the Chinese market. It will further promote openness, innovation and sustainability, injecting new vitality into the global economic recovery and development.
The author is Peng Yu, a researcher at the Institute of World Economy, Shanghai Academy of Social Sciences.
Source: Touch Shanghai
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