CHINA INVITES WORLD TO ENTER ITS ' OPEN' MARKET
Shanghai, Nov 17 -- The seventh China International Import Expo (CIIE), which wrapped up last week, has delivered a promising message of continued growth and optimism on the global market, despite prevailing economic uncertainties.
Over the past seven years since its inception in 2018, the CIIE has seen tremendous success with growing attendance and increasing turnover each year. The expo has become a symbol of China's new development model, offering a premier platform for high-level openness to attract global participants.
According to data released by the CIIE Bureau, the value of tentative deals reached at this year's six-day exhibition exceeded $80 billion, a 2% increase from last year. Many foreign business executives expressed optimism about the expo as an opportunity to tap into China's vast market, rich opportunities for growth, and cutting-edge technologies.
Yann Bozec, president for Asia-Pacific at Tapestry Inc, the United States-based luxury goods company, stated that the CIIE offers global companies a platform to connect with clients, government representatives, media, peers and business partners, providing valuable insights on product innovations showcased at exhibits.
Echoing similar sentiments, Roy Jakobs, CEO of Royal Philips, a Dutch multinational industrial conglomerate noted that healthcare is a key focus for his company in China, highlighting the expo's efforts to build connections with hospitals, technology innovation companies, and government agencies.
The seventh CIIE also presented several strategic zones to enhance international trade exchange and innovation. For instance, a new materials zone was launched within the technical equipment hall, while an automobile section brought together exhibits on autonomous driving, low-altitude economy, and new energy storage.
A notable theme emerged as the expo showcased advanced technologies under the concept of "new quality productive forces". This refers to production freed from traditional economic growth models, highlighting high technology, efficiency, and quality. It resonates with China's new development philosophy for increased productivity.
With this year's CIIE demonstrating solid prospects for sustainable global business operations in China, the Chinese government has further lifted restrictions on foreign investment in manufacturing, guaranteeing equal treatment for all companies involved in resource access, licensing standards, and government procurement.
The event sets an encouraging message about China's vast market potential and innovative growth strategies. For businesses willing to venture into these trends, future opportunities may hold answers to prevailing challenges amidst turbulent global markets.
For investors seeking sustainable success stories about emerging players like tech giants who showcased innovations at the CIIE in 2023 or 2024, more insights can be found in a follow-up release next year likely from various prominent publications offering comprehensive market data over time.