Apre-CIIEmatchmakingmeetingforexhibitorsandbuyersisheldinShanghaionJuly27XINHUAFromNewZealandfreshmilktoCanadianseafoodtoSouthAmericanfruits,Chineseconsumers’increasinglydiscerningtastespresentenormousopportunitiesforforeignbusinesses.Asimilartrendisnoticeableinconsumerspendingonworld-renownedbranditemsinautomobiles,luxurybagsandhi-techdevices.TohelpkeepupwiththechangeinChinesebuyingpatterns,thefirstChinaInternationalImportExpo(CIIE),underthethemeofNewEra,SharedFuture,willbeheldinShanghaiinlessthan100days.
“TheCIIEshouldbeonparwiththemostrenownedexpositionsintheworld,combiningcountry-andenterprise-specificexhibitionsandbusinessforumstoformacomprehensiveinternationalinfluence,”VicePremierHuChunhuasaidatthe100-daycountdowninShanghaifortheopeningoftheCIIEonJuly27.
Over2,800companiesfromover130countriesandregionshaveconfirmedtheirattendanceattheCIIEonNovember5-10.TheexpohasattractedexhibitorsfromallG20members,over50countriesandregionsalongtheChina-proposedSilkRoadEconomicBeltand21st-CenturyMaritimeSilkRoadandmorethan30oftheworld’sleast-developedcountries.It’sexpectedthatover150,000purchasersfromhomeandabroadwillattendtheevent,accordingtoorganizers.
“AsoneofthefourmajordiplomaticeventshostedbyChinathisyear,thefirstCIIEisofgreatsignificanceontheoccasionofthe40thanniversaryofChina’sreformandopeningup,”saidViceMinisterofCommerceWangBingnan.
WhatmakesthisexposospecialisthatitisamajormovebyChinatoresolutelysupporttradeliberalizationandvoluntarilyopenitsmarketswidertotheworld.TheCIIEservesasabrand-newspringboardforforeignbusinessesandproductseyeingtheChinesemarket.
Atimely,popularevent
OversixdecadesafterChinaestablishedtheChinaImportandExportFair(CantonFair)inGuangzhouinsouthChina’sGuangdongProvince,originallyaimedatexports,thecountrywillholdtheworld’sfirstimport-themednational-levelexpoonanannualbasis.AttheBeltandRoadForumforInternationalCooperationinMay2017,ChinesePresidentXiJinpingannouncedthedecision.
AsXihasreiteratedonmanyoccasions,Chinawillnotcloseitsdoorstotheworld,butwillonlyopenupmoreandmore.“Opennessbringsprogress,whileself-seclusionleavesonebehind,”hesaid.
Exhibitors’enthusiasmforthefirstCIIEhasexceededorganizers’expectations.“TheboothareaforbusinesseswasalreadyfullybookedinJune.Wehadtoexpandtheboothareatwice,from210,000to270,000squaremeters,”saidSunChenghai,DeputyDirectoroftheCIIEBureau.InlightoftheCIIE’spopularity,morethan30companiesandinstitutions,includingmanyindustryleaders,havealreadysignedupforthesecondCIIE.
AranchaGonzalez,ExecutiveDirectoroftheInternationalTradeCenter,saidtheCIIEisaveryuniquefair.“ItsignalsacommitmentbyChinatomovefrombeingaglobalfactorytobeingaglobalmarket.”WiththeCIIE,ChinacanshareitsexperienceofexpandingexportswithothereconomiesaroundtheworldandhelpthemtaptheChinesemarket,shesaid.Theexpois“anexampleofhowinternationaltradecanbewin-win.”
LiangMing,DirectoroftheForeignTradeInstitutewiththeChineseAcademyofInternationalTradeandEconomicCooperation,saidtheCIIEcomesattherighttime.“Theworldeconomyisfacingchallengesfromalackofgrowthmomentumasthetrendofantiglobalizationemergesandsomecountries’policiesareincreasinglydomesticallyfocused,”hesaid,addingthatmountingtradefrictionsandinvestmentrestrictionsposeagreatthreattosustainedglobalgrowth.
“Againstthisbackdrop,theCIIE,withparticipationfromalargenumberofcountriesandregionsandbuyersfromhomeandabroad,willserveasanopenplatformforglobaltrade.Tothegreatestextent,itshowsChina’sconsistentstanceinsupportingthemultilateraltradingsystemandfreetrade.Itsendsastrongsignalinoppositiontotradeprotectionismandinsupportofbuildingandsafeguardinganopenworldeconomy,”Liangsaid,notingthatChina’sfurtheropeningupandincreaseofimportswillgreatlyincreasetradeliberalizationandinjectnewimpetusintoglobalgrowth.
HostingtheCIIEalsocaterstotheongoingconsumptionupgradetakingplaceinChinaamidacontinuouslyexpandingmiddle-incomegroupandincreasinglydiversifieddemands.Chinesepeoplehavedemonstratedanevergrowingpurchasingpowerthroughheftyspendingduringoverseastrips.
Astheworld’sbiggestspenders,Chinesemainlandtouristsspent$261billionin2016,twotimesthatofU.S.tourists’overseasspending.Thisaccountedfornearly21percentoftheworld’stouristconsumption,accordingtoareportreleasedbyChina’sleadingonlinetravelagencyCtripandtheCenterforChinaandGlobalization,aChinesethinktank.
“ByhostingtheCIIE,Chinawillexpandimportsofservicesandhigh-qualityconsumergoodstogivepeoplemorechoices,guideChinesepeople’soverseasspendingtoflowback,optimizeconsumptionstructureandbettersatiatepeople’sdemandsformorediversifiedandtailor-madeproducts,”Liangsaid.
Businesscommunitythrilled
Chinahasbeentheworld’ssecondlargestimporterofgoodsfornineyearsinarowandtookin10.2percentofglobalimportslastyear.Inthenext15years,Chinaisexpectedtoimport$24trillionworthofproducts.
Foreignbusinessesarecovetingmarketopportunitiescreatedbyoneoftheworld’sfastestgrowingmajoreconomiesandtheworld’sbiggestmiddle-incomegroup,whoisdemandingabetterlifeandhigher-qualitygoods.
InearlyJuly,Chinaintroducedsubstantialtariffcutsonautomobilesandconsumergoods.Whiletariffcutsreducethecostsofimports,theCIIEaimstoprovideinstitutionalsupportbyboostinginformationsharingandbridgingsupplyanddemand.
WalterTong,GreaterChinaManagingPartnerforKeyAccountsatErnst&Young,amultinationalprofessionalservicesfirmheadquarteredinLondon,saidtheCIIEisnotonlyabridgeconnectingexhibitorsandbuyers,butalsoabridgeforexhibitorstonetworkandtointeractwiththegovernment.
“WithourprofessionalknowledgeandChinesemarketknowhow,wecanhelpsmallandmedium-sizedforeignbusinessesexpandtheiroperationsinChina.AndtheCIIEoffersagoodopportunityforErnst&Youngtoreachmorepotentialclients,”TongtoldBeijingReview.
HealsohailedChina’srecentmovesinopeningitsfinancialmarketwidertotheworld,especiallyinthebankingandinsurancesectors.“Weverymuchlookforwardtoenteringthismarket,”Tongsaid.
AndreasWeller,PresidentoftheAsia-PacificregionforGermanautopartsmakerZF,saidthecompanywoulddisplayitslatesttechnologyinautonomousdrivingande-mobilityattheCIIE.“ZFispleasedtotakepartintheCIIE,whichisanimportantmeansforthesustainedopeningupoftheChineseeconomyandagreatopportunityforglobalenterprisestoenhancetechnicalexchangeandbusinesscooperation,”Wellersaid.
AccordingtoWeller,ZF’sfootprintcovers40countriesand230locationsworldwideandChinatakesupnearly20percentofitsglobalsalesvolume,playingavitalpart.“WehavesetuptwoR&DcentersinChina,andarecommittedtoenlargingourR&DfacilitiesinChinasignificantly,”hesaid.
SimonElectricisasupplierofhigh-qualityelectricalequipmentandwiringproducts.TheSpanishcompanyfirstenteredtheChinesemarketin1999andachievedsalesrevenueofover1billionyuan($147million)lastyear,withthegoalofatleasttriplingthisfigurewithinthreetofiveyears.
“Overthepasttwodecades,oursalesrevenueintheChinesemarkethasbeenincreasingatanaverageof15to20percentannually,”saidZhangRenyu,GeneralManagerofSimonElectricChina,addingthatChinasalesnowaccountforroughly20percentofthecompany’sglobaltotal.
“Weappliedfora300-square-meterbooth,butwiththepopularityoftheCIIE,weonlygot100squaremeters,”ZhangtoldBeijingReview.
“WehavesharedthebenefitsofChina’scontinuedreformandopeningupforthepast20years.TakingpartinthefirstCIIEreflectsourconfidenceinChina,intheChinesemarketandintheChineseGovernment,”Zhangsaid.
“WewillconsolidaterelationswithourtraditionalpartnersandexplorenewpartnersatthefirstCIIEinNovember,”headded.
(ReportingfromShanghai)
CopyeditedbyRebecaToledoCommentsto
AnaerialviewofShanghaiframedbytheHuangpuRiverSHENLIANGQuickFactsAbouttheChinaInternationalImportExpo
Theme:NewEra,SharedFuture
Venue:NationalExhibitionandConventionCenter(Shanghai)
Date:November5-10,2018
Hosts:MinistryofCommerceofthePeople’sRepublicofChinaShanghaiMunicipalPeople’sGovernment
Partners:WorldTradeOrganizationUnitedNationsConferenceonTradeandDevelopmentUnitedNationsIndustrialDevelopmentOrganization
Logo
MascotThreeMajorPartsoftheExpo:
(Sources:ChinaInternationalImportExpoBureau,NationalExhibitionandConventionCenter(Shanghai);designedbyPamelaTobey)