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Economy

New Opportunities in China | In the Seventh Year of CIIE, Opening Up is in Progress

2024-07-22   

You can buy this chili sauce from supermarkets in China... but be careful, it's very spicy! "Said James Kimonio, the Rwandan ambassador to China, as he introduced a chili sauce known as the" Rwandan godmother ". Rwanda is one of the 45 least developed countries listed by the United Nations, but it is a "six time full-time student" who attends the China International Import Expo (CIIE) every year. It brought rich flavors such as coffee, tea, chili, honey, etc. to the CIIE, and the hot selling chili in China increased the income of local farmers by five times. There are many "CIIE enthusiasts" like Rwanda, and the 7th CIIE, which will be held from November 5th to 10th, 2024, has not yet started. It is reported that the global promotion of the 7th CIIE has entered more than 30 countries and regions. Currently, there are over 1000 signed companies for business exhibitions, including nearly 260 Fortune 500 and industry leading enterprises. The CIIE is the world's first national level expo with an import theme. You can intuitively feel its power from a single number -78.41 billion US dollars, which is the intended annual transaction amount of the 6th CIIE. More and more exhibitors are using the CIIE as an excellent platform to showcase their latest achievements, including global debut, Asian debut, and China debut. Why can only China host such a global trade event? We cannot do without China's solid foreign trade foundation. As of 2023, China has maintained its position as the world's largest trading nation in goods for seven consecutive years, with an average of 114.4 billion yuan of goods flowing between China and countries around the world every day. You come and go, goods flow smoothly. China continues to open up and connect with the world at a higher level, fulfilling its commitment to "exploring new opportunities for cooperation and win-win outcomes". We cannot do without the vast consumer market in China. The world's second largest consumer market and first largest online retail market, consisting of over 1.4 billion people and over 400 million middle-income groups, contain vibrant vitality and enormous potential. The further release of high-end and diversified consumer demand continues to expand the "diameter" of the Chinese economy and market. We cannot do without China's firm choice of openness. Currently, the international situation is intertwined with turmoil, and global cooperation is difficult to be optimistic about. The CIIE can continue to thrive because it is not only an import goods exhibition that gathers selected and advanced products and technology, and drives the gathering of upstream and downstream supply chain industries, but also an international platform that promotes China's meeting with the world market, industrial integration, mutual promotion of creativity, and mutual learning of rules. China has been the world's second-largest import market for 15 consecutive years and has become a major trading partner for over 140 countries and regions. As a globally shared international public good, the spillover effects of the CIIE continue to amplify. Buy globally, China's large market is generously expanding to the world; Selling globally, China has a rich variety of products and smooth logistics channels as support. Buying and selling will ultimately benefit the world. The latest Global Trade Outlook and Statistics report by the World Trade Organization (WTO) predicts that global trade in goods will increase by 2.6% in 2024, and continue this year's recovery momentum in 2025, with an expected growth of 3.3%. Along the Huangpu River, the CIIE is a window and a starting point. In order to accelerate the development of new quality productivity, the 7th CIIE will add a new materials zone under the technology and equipment exhibition area, creating a new product launch and exhibition venue, the latest industry trend promotion venue, and an international innovation resource sharing venue for the new materials industry. In the seventh year of entering the CIIE, China's door to opening up is getting wider and wider, and the global agreement to go to the East has increased export opportunities for countries and injected momentum into world economic growth. (New Society)

Edit:NingChangRun Responsible editor:LiaoXin

Source:SAN Li HE Studio

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