China's import expo shows commitment to opening-up, fairer global trade order amid uncertainties -- experts

BEIJING, Nov. 9 (Xinhua) -- The ongoing China International Import Expo (CIIE) showcases China's firm commitment to opening-up, shared growth, and building a fairer international trade order amid uncertainties stemming from rising unilateralism and protectionism, experts have said.

The eighth edition of the international trade fair, held annually in Shanghai, opened on Wednesday and will run through Nov. 10.

The six-day event has set a new record in scale. It boasts the participation of 155 countries, regions and international organizations, with 4,108 overseas exhibitors and a total exhibition area of over 430,000 square meters, according to the Chinese Ministry of Commerce.

HIGH EXPECTATIONS FOR CIIE AMID ECONOMIC UNCERTAINTY

"The expo provides a vital platform amid global economic uncertainty and tense trade conditions," Jacopo Vicini, deputy mayor for economic development of the Italian city of Florence, said in a recent interview with Xinhua.

Bosnian economist Igor Gavran has observed that "the openness of the Chinese market stands in sharp contrast to the growing protectionism in some Western countries." Amid sluggish global trade, he said, "China has continued to open its doors wider, sharing the fruits of its development with the world."

"Over the years, the expo has grown in stature, facilitating global products' entry into the Chinese market and promoting coordinated regional growth worldwide," said Sergei Vergeichik, an analyst at the Belarusian Institute for Strategic Research, noting China's vast, open market that shares economic dividends with partners.

The expo creates numerous opportunities for businesses of all sizes to access the Chinese market, helping open new markets and business channels, Alexis Bih, a Cote d'Ivoire economic expert said, who views the CIIE as part of China's actions and initiatives that "serve as crucial strategic levers for pulling the global economy toward recovery."

"The international community has high expectations for this year's CIIE, hoping it will further strengthen its role as a platform for international economic cooperation," he said.

Highlighting the CIIE's vital strategic role in fostering cooperation, Bih said that as "a leading global exporter and importer of goods, China continues to streamline global supply chains and has become a central driver of world trade."

COMMITMENT TO FAIRER GLOBAL TRADE ORDER

Bih believed that with concrete actions such as promoting win-win economic cooperation through the CIIE platform, "China demonstrates its commitment to building a fairer global economic and trade order," steering economic globalization toward a more open, balanced and inclusive direction.

"China not only puts forward a grand vision but also takes concrete actions to build a fairer and more equitable global trade environment, bringing great hope to small and medium-sized economies," Gavran said.

As the CIIE demonstrates, as one of the world's largest consumer markets, "China is further expanding openness and offering tremendous opportunities to smaller economies" like his country, Bosnia and Herzegovina, Gavran said.

The CIIE, like China's other platforms and global initiatives, "offers smaller economies a more valuable path for collaboration," he added.

Vicini, for his part, said he believes that China's ongoing high-standard opening-up will create new opportunities for cooperation between countries. "This openness is not limited to trade but extends to deeper exchanges in culture, arts, innovation, and sustainable development."

"With its strong capacity to attract investment and facilitate exchanges, China is expected to play a key role in fostering a more balanced economic globalization based on sustainability, innovation and mutual respect," Vicini noted. ■