BEIJING, Nov. 8, 2019 /PRNewswire/ -- A news report by China.org.cn on China International Import Expo:
Last year, the China International Import Expo (CIIE) concluded with intention-to-buy deals worth $57.83 billion. On Nov. 5, the second CIIE opened with even greater expectations and more colorful activities, attracting enterprises and organizations from a wider area of the world to promote themselves in Shanghai.
This year, the total floor space for the Business Exhibition and Country Exhibition expanded to 360,000 square meters from 300,000 square meters, and more Fortune 500 enterprises and industry leaders joined in.
The Business Exhibition consists of seven sections, with the Section of Food & Agricultural Products covering the largest area and attracting the most exhibitors. Many of these exhibitors have developed long-term partnerships with Chinese enterprises. Danone from France and Arla Foods from Denmark are cases in point. In the past 10 years, they have become shareholders of China's leading dairy product supplier Mengniu.
The world's passion for the Chinese market has always been on the rise. The per capita disposable income of Chinese residents reached 28,000 yuan in 2018. With the consumption structure upgrading, the proportion of imported goods in daily consumption has risen rapidly; yet, compared with developed countries, China still has huge space for a further increase of the proportion of consumption in GDP, meaning the Chinese market will continue to offer great potential.
After the first CIIE, 137 exhibitors set up offices in the Pudong District of Shanghai. A coffee maker displayed at the expo was soon seen in nearly 500 stores in 80 cities around the country. In June, the world's smallest pacemaker got the nod from the Chinese authorities to enter the local market. All these developments have shown foreign enterprises the real benefits of the expo.
These benefits are not only due to the expo's promotional effects, but also the result of China's actions to further promote opening-up. According to the 2019 edition of the negative list for foreign investment, the agriculture, mining, manufacturing and service sectors have been opened wider to the world. Meanwhile, the government also established a free trade zone in Hainan Province, passed the Foreign Investment Law, introduced a regulation to improve business environment, and reshuffled the state intellectual property administration.
This year's CIIE will conclude in two days. No doubt, it will set a new record in the value of intended deals. More importantly, it will offer the world an opportunity to grasp the development trend of China, a major market and the world's second largest economy. With a view to the future, only globalization and mutual-benefit trade can serve as the long-term propeller of common development.
CIIE: An opportunity to enter the Chinese market