The Power of the Market

The large attendance at the sixth China International Import Expo reflects increasing global interest in the Chinese market

Representatives from 154 countries, regions and international organisations gathered in Shanghai on 5-10 November for the sixth edition of the China International Import Expo (CIIE) in what was its first full return to in-person exhibition since the COVID-19 outbreak. In a message to the expo, Chinese President Xi Jinping said he hoped the CIIE will better serve as a window for fostering a new development pattern that creates new opportunities for the world through China’s further development, and as a platform of high-standard opening up that allows China’s enormous market to be shared by the world.

He also expressed the hope that the expo will play a greater role in providing shared international public goods and services that facilitate an open world economy and let the world benefit from win-win cooperation.

His expectations were well met by the event, which saw a total of $78.41 billion worth of tentative deals reached for one-year purchases of goods and services, a new record high.

The figure represents an increase of 6.7 percent from last year, Sun Chenghai, deputy director of the CIIE Bureau, told a press conference at the conclusion of the expo on 10 November.

A magnet for global traders

More than 3,400 enterprises from 128 countries and regions took part in the event, showcasing 442 new products, technologies and services, up from 438 last year, according to Sun. A record high of 289 global Fortune 500 companies and top industrial enterprises were present at the exhibition.

Since its launch in 2018, the expo has been an important part of China’s efforts to open its market