Six keywords of CIIE showcase China's market potential - China Daily

This photograph taken connected Nov 2, 2022 shows the westbound entranceway of the National Exhibition and Convention Center (Shanghai), the main venue for the 5th China International Import Expo (CIIE), successful East China's Shanghai. [Photo/Xinhua]

SHANGHAI -- From a humanoid robot to a virtual world mining experience, visitors were dazzled astatine a assortment of caller products, technologies, and services showcased astatine China's import expo, a level for the state to stock its improvement opportunities with the remainder of the world.

The 5th China International Import Expo (CIIE), which concluded successful Shanghai connected Thursday, saw $73.5 cardinal worthy of tentative deals reached for one-year purchases of goods and services, up 3.9 percent from that of past year, Sun Chenghai, lawman manager of the CIIE Bureau, told a quality conference.

Here are six keywords of CIIE that connection a glimpse of China's marketplace prospects and the enthusiasm of exhibitors to pat into the immense Chinese market.

High-level opening-up

Exhibits turning into merchandise, exhibitors turning into investors, first-timers turning into regular participants -- the CIIE has seen galore transformations since its inauguration successful 2018, reflecting China's dependable advancement toward a higher-standard unfastened economy.

"The CIIE is the cleanable level for collaboration. I deliberation determination are nary different ones successful the satellite that are capable to bring truthful galore industries and state representatives unneurotic and person this dialog that allows america to look astatine opportunities," said Fabrice Megarbane, L'Oreal North Asia Zone president and main enforcement serviceman of L'Oreal China.

Apart from promoting the escaped travel of goods and factors, China has stepped up its efforts successful continuing organization opening-up. The state has kept shortening the antagonistic database for overseas investment, passed laws and regulations, including the Foreign Investment Law, and acceptable up immoderate aviator escaped commercialized zones (FTZ).

In a precocious released openness index, which gauged the openness levels of 129 economies from 2008 to 2020, China's openness scale jumped from 0.7107 successful 2012 to 0.7507 successful 2020, up 5.6 percent, and its ranking roseate from 47th to 39th.

High-quality development

The 5th CIIE attracted 145 countries, regions, and planetary organizations, arsenic good arsenic much than 2,800 enterprises successful the commercialized accumulation area, and debuted 438 caller products, technologies, and services.

What has enticed planetary firms to stitchery astatine the CIIE is China's immense opportunities brought astir by its high-quality improvement drive.

During the 2013-2021 period, China's mean publication to planetary economical maturation exceeded 30 percent, ranking archetypal crossed the world, according to a study released by the National Bureau of Statistics successful September.

As the archetypal healthcare multinational to settee successful the Lingang caller country of the Shanghai aviator FTZ, Novo Nordisk connected Nov 6 announced its intent to put 400 cardinal yuan ($55.63 million) successful establishing a holding institution successful the area.

Novo Nordisk hoped to prehend the opportunities of China's high-quality improvement to upgrade the layout of the full concern chain, said Zhou Xiaping, planetary elder vice-president and president of Novo Nordisk Region China.

Eyeing brightening aboriginal prospects, overseas enterprises are casting a ballot of assurance with actions. More than 100,000 quadrate meters of accumulation areas for the adjacent CIIE person already been reserved.

Sharing benefits

China has held respective large expos this year, including the CIIE, China International Fair for Trade successful Services, and the China International Consumer Products Expo, to grant its commitments to turning the country's immense marketplace into tremendous opportunities for the world.

Every variation of the CIIE saw much than 100 countries, regions, and planetary organizations attending, including developed countries, processing countries, and immoderate slightest developed countries. The CIIE peculiarly invited tiny and medium-sized companies from dozens of the slightest developed countries to enactment successful the expo.

Afghan exhibitor Ali Azghar Faiz believed that the CIIE is simply a adjuvant level for countries specified arsenic Afghanistan.

He said that with the assistance of the CIIE, helium is capable to not lone present Afghan products to China, but besides beforehand them to galore different countries, and this would beryllium a enactment to the Afghan people.

Still connected the determination to grow its "circle of friends," China volition proceed to instrumentality the Regional Comprehensive Economic Partnership, and beforehand its accession into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement.

Dual carbon

Since China successful 2020 announced the goals of striving to highest c dioxide emissions by 2030 and execute c neutrality by 2060, the state has aligned its spot with pro-ecology and low-carbon efforts to fast-track the pursuit of its c goals.

Seeing disposable ecological progress, firms successful assorted industries, including accepted energy, construction, clothing, food, and caller materials, each incorporated the low-carbon imaginativeness into their products and services showcased astatine the expo.

New Zealand's dairy marque Theland, for instance, exhibited its "carbon-neutral milk," which displayed a low-carbon full concern chain.

"We privation to lend efforts to China's 'dual carbon' goals," said Sheng Wenhao, CEO of Theland Asia Pacific Region.

A study from the French slope Societe Generale estimated that to execute c neutrality by 2060, China's greenish concern needs to scope 2.2 trillion yuan per twelvemonth successful the existent decade, and the magnitude volition turn to 3.9 trillion yuan successful the play from 2031 to 2060.

Innovation

From a virtual world mining experience, 5G excavator remote-driving, to customized perfume scent recommendations utilizing brainwave scanning devices, assorted high-tech gadgets bespeak an innovation-driven manufacture upgrade successful China.

"China has led the satellite successful integer absorption of proviso concatenation and integer exertion of depletion and surviving styles. This is not lone the instauration for China's economical resilience but besides the crushed wherefore planetary firms are flocking to China," said Michael Bi, EY Greater China markets managing partner.

The country's integer system reached $7.1 trillion successful 2021. It accounts for much than 18 percent of the magnitude of 47 large countries included, ranking 2nd aft the United States, said a achromatic insubstantial issued by the China Academy of Information and Communications Technology.

Health

The size of China's healthcare manufacture is expected to scope 16 trillion yuan by 2030, according to a "Healthy China 2030" outline released by the Chinese government.

To cater to Chinese people's expanding fittingness and sports demands, Decathlon, a starring planetary sporting goods retailer, debuted a multi-function rowing machine, which combines the features of a portion of furnishings and fittingness equipment.

"Chinese radical are pursuing a higher-level surviving standard, which includes voluntary promotion of sports consciousness and depletion upgrade for sports," said Pascal Bizard, Decathlon China elder vice-president.

The institution believed that China's sports industry, a trillion-dollar-worth industry, volition proceed unleashing marketplace dividends and opportunities, according to Bizard.