The China International Import Expo (CIIE) 2023 will be held from November 5-10 in Shanghai, drawing a larger number of exhibitors from across the world to participate offline.
Now in its sixth year, the event has become a platform for promoting China’s high-level opening-up policies and serves as an international public good, according to Sheng Qiuping, Vice Minister of Commerce, speaking at a press conference on Monday.
A total of 289 Fortune 500 companies and industry leaders will participate in the enterprise exhibition this year, an increase from last year.
The world’s top vehicle brands, industrial electrical enterprises, medical equipment producers, mining giants, grain merchants and major shipping companies have confirmed plans to attend. More than 100 senior executives from the world’s top 500 companies and industry-leading enterprises will attend, also reaching a new high.
Participants from 154 countries, regions and international organizations are expected to join the expo in a larger exhibition area. The expo anticipates welcoming 3,400 exhibitors and 394,000 professional visitors, back to the pre-pandemic level.
Belt and Road (BRI) participating countries account for the majority of the national pavilions. 69 countries and three international organizations have confirmed their participation in the national pavilion, of which 64 are BRI partner countries.
Among the highlights of this year’s exhibition are cutting-edge technologies, including low-carbon energy and artificial intelligence. More than 400 new products, new technologies, and new services will be showcased at the expo.
Facilitate foreign trade
Since the first CIIE was held in 2018, the five CIIEs have witnessed the launch of more than 2,000 new products, technologies, and services.
On one hand, the CIIE facilitates foreign trade by smoothing domestic circulation by importing advanced equipment and consumer goods to help with industrial upgrading and improving the quality of consumer goods, according to Sheng. On the other hand, it promotes dual circulation by linking international exhibitors with domestic ones, he added.
Tentative deals worth almost $350 billion were reached at the previous five expos, facilitating to stabilization of foreign trade and investment, said Sheng.
China has launched a series of policies to stabilize foreign trade growth and optimize the structure this year. Sheng said the commerce department, along with other relevant departments, will continue to offer policy support including offering favorable import tax rates and building import demonstration zones.