Sun Xinxin, Institute of Economics, Shanghai Academy of Social Sciences The curtains of the first China International Import Expo (hereinafter referred to as the CIIE or the Expo) were raised from November 5 to November 10, 2018 at the National Exhibition and Convention Center (Shanghai) under the joint sponsorship of the Ministry of Commerce PRC and the Shanghai Municipal People's Government. The Expo is an important move of the Chinese government to demonstrate the firm support for trade liberalization and economic globalization, and the wish to open the Chinese market to the world. The Country Pavilions for Trade & Investment showcased the countries' trade in goods and services, industries, investment and tourism, as well as their distinctive products. The Enterprise & Enterprise Exhibition area included the sectors of Trade in Services, Automobiles, High-end Intelligent Equipment, Consumer Electronics & Appliances, Apparel, Accessories & Consumer Goods, Medical Equipment & Health Care Products, and Food & Agricultural Products. Wide in range and rich in layers, the exhibits covered all areas in the economic and social development as well as for national welfare and people's livelihood, comprehensively demonstrating different countries' latest achievements in technology and manufacturing. Hosting the CIIE helps showcase the confidence of China as a great power, further promote the Chinese outstanding enterprises to the world, and fully demonstrate the Chinese achievements in manufacturing, technology, economy and finance in recent years. In addition, the Expo will further boost the implementation of China's "Belt and Road" Initiative and strengthen China's economic and trade cooperation with other countries. While promoting the outstanding Chinese enterprises and products, the CIIE will certainly stimulate the Chinese enterprises' enthusiasm and effort in going abroad for foreign exchange and investment. It will also help attract foreign investment in China, boost China's reforms in QFII, RQFII, RMB internationalization and RMB exchange rate system, facilitate the reform and innovation of China's cross-border capital flow regulation, and urge the Chinese enterprises to accelerate transformation and continuously improve their product quality and services. The CIIE will not only enhance the communication and cooperation among the governments, industries, universities and research centers across the world, but also promote the high-end dialogues on major frontier issues of global economy and trade among the important political figures of different countries, the people in the business, industrial and academic circles, and the media. In return, they will offer their insights on economic globalization, free and convenient trade and investment, as well as the new trends and changes in the international economic and trade development. The Expo will ultimately advance the economic globalization that features openness, inclusiveness, balance and win-win, and the building of an open world economy, and will stimulate the worldwide trade growth. Russia, as one of the guest countries of honor at this year's CIIE and one of the largest participants, sent a government delegation of nearly 800 people who brought exhibits spanning five sections of exhibition, namely food & agricultural products, medical treatment, technology, consumer goods and trade in services. Their exhibition covered an area of 2,000 square meters. Data shows that as of August 2018, Russia’s exports to China totaled 35.2 billion US dollars, with an increase of 47% over the same period last year, accounting for more than 50% of its exports to Asia the same as last year. The exports of Russia’s non-raw materials and non-energy sectors totaled 7.6 billion US dollars, with an increase of 20.3% over the same period last year. China has contributed 63% of Russia's export growth to Asian countries. Ms. Yevgeniya Dolina, Head of the Russian exhibition hall, said that Russia had become one of the most favorite overseas tourist destinations for the Chinese consumers in recent years, with the Chinese enterprises being keen to develop tourism programs in more regions of Russia. She also added that the CIIE had provided an opportunity for the Russian delegation and some Chinese enterprises to discuss a series of topics on bilateral economic and trade relations. Mr. Andrey Slepnev, General Manager of the Russian Export Center, noted that the economies of China and Russia were complementary, and there had been many opportunities for the mutual cooperation in the fields of timber, petrochemical, grain, paper, non-ferrous metals and precious metals. He said that the CIIE had made it easier for the Russian Export Center to discuss with the Chinese side on issues like simplifying procedures, eliminating trade barriers, and exploring new logistics routes, and the Russian side, had seen the great potential of China-Russian cooperation in urban construction and other aspects. Mr. Dmitry Patrushev, Head of the Russian Federation Ministry of Agriculture, mentioned that the CIIE had led to a consensus between Russia and China on the import of dairy products, and the first batch of Russian dairy products was expected to arrive in China within 2018. According to Mr. Artyom Lukin, Deputy Director of the School of Regional and International Studies at the Far Eastern Federal University of Russia, both countries have signed a series of cooperation agreements thanks to the CIIE in the fields of investment, technology and green agricultural products. The bilateral cooperation in agriculture of both countries is also expected to develop rapidly in the next few years. As we can see, the CIIE is a pioneering feat in the history of international trade, marking that China has opened its doors wide to foreign products. It allows the global enterprises to enter the enormous Chinese market of 1.4 billion people, to leverage the rapid development of the Chinese economy, and to expand their marketing channels in China. It will contribute to the sustained growth of the world economy and help restore the worldwide confidence in economic development. On the other hand, the CIIE will usher in a large number of foreign quality products and services into China and allow the Chinese consumers and enterprises to understand these foreign products better, which will enrich the spiritual and cultural life of the Chinese people, lift their living and consumption standards, and meet their diverse consumption needs for a better life. The greatest significance of the CIIE lies in that it will accelerate the transformation and upgrading of the Chinese economy toward a higher class and bigger competitiveness, making China a leader in economic globalization and trade liberalization. Moreover, the CIIE has further promoted Shanghai's infrastructure building, improved the city's security, transportation, landscaping and air quality, and made the city more beautiful. It has boosted Shanghai's tourism and economy, and lifted the life quality and morality of the people to a higher level. It has made great contributions for Shanghai to open up further, draw in more foreign investment and advanced foreign ideas, enrich its market layers, promote the development of its economic system, complete its financial system reform, and finally fulfill its goal of becoming an international financial center. The CIIE has fully demonstrated the strong confidence of China as a great power, its positive attitude toward foreign cooperation, its inclusiveness and open-mindedness. The CIIE has also presented before the world the lofty aspiration, far-seeing intelligence, modesty and harmony of the Chinese cities represented by the international metropolis of Shanghai, as well as the initiative and dauntless spirit of the Chinese people in the new era. (The author is a research associate of the Institute of Economics, Shanghai Academy of Social Sciences.)