Six keywords of CIIE showcase China’s market potential_英语频道_央视网(cctv.com)

This photo taken on Nov. 2, 2022 shows the west entrance of the National Exhibition and Convention Center (Shanghai), the main venue of the fifth China International Import Expo (CIIE), in east China’s Shanghai. (Xinhua/Fang Zhe)

SHANGHAI, Nov. 11 (Xinhua) — From a humanoid robot to a virtual reality mining experience, visitors were impressed by a variety of new products, technologies and services showcased at the China Import Fair, a platform for the country to share its development opportunities with the rest of the world.

At the fifth China International Import Expo (CIIE), which ended in Shanghai on Thursday, 73.5 billion US dollars of framework agreements were signed for one-year purchases of goods and services, up 3.9 percent from last year, Sun Chenghai , deputy director of the CIIE office, said at a press conference.

Here are six CIIE keywords that offer insight into China’s market outlook and exhibitors’ enthusiasm to tap into China’s huge market.

OPENING AT A HIGH LEVEL

Exhibitions turning into commodities, exhibitors turning into investors, first-time visitors turning into regulars – CIIE has seen many transformations since its opening in 2018, reflecting China’s steady progress towards an open economy with higher standards.

“CIIE is the perfect platform for collaboration. I don’t think there is any other platform in the world that can bring together so many industries and representatives of countries and have this dialogue that allows us to look at opportunities,” said Fabrice Megarbane, L “Area President Oreal North Asia Zone and Chief Executive Officer of L’Oreal China.

In addition to promoting the free movement of goods and factors, China has stepped up its efforts to further institutional opening. The country continued to shorten the negative list for foreign investment, passed laws and regulations, including the Foreign Investment Law, and established some pilot free trade zones (FTZs).

Also Read :  Oculus creator makes virtual reality headset that intentionally kills people

In the recently released Openness Index, which measured the degree of openness of 129 economies from 2008 to 2020, China’s Openness Index jumped from 0.7107 in 2012 to 0.7507 in 2020, an increase of 5.6 percent, and its ranking rose from 47th to 39th place.

HIGH QUALITY DEVELOPMENT

The fifth CIIE attracted 145 countries, regions and international organizations and more than 2,800 enterprises in the commercial exhibition area and introduced 438 new products, technologies and services.

Global companies have been attracted to gather at CIIE by China’s great opportunities brought by its high-quality development efforts.

During the 2013-2021 period, China’s average contribution to global economic growth exceeded 30 percent, ranking first in the world, according to a report released by the National Bureau of Statistics in September.

As the first healthcare multinational to settle in the new Lingang pilot FTZ area in Shanghai, Novo Nordisk announced on Nov. 6 its intention to invest 400 million yuan (US$55.63 million) to establish a holding company in the area.

Novo Nordisk hoped to seize the opportunities of China’s high-quality development to upgrade the entire industrial chain, said Zhou Xiaping, global senior vice president and president of the Novo Nordisk China region.

Foreign companies use their actions to cast a vote of confidence as they seek to illuminate future prospects. More than 100,000 square meters of exhibition space for the next CIIE has already been reserved.

BENEFIT SHARING

China has held several major exhibitions this year, including CIIE, the China International Trade in Services Fair and the China International Consumer Products Exhibition, to honor its commitments to turn the country’s huge market into huge opportunities for the world.

Also Read :  With private sector participation, India recognized for its low-cost international space standard technology: PM Modi

Each edition of CIIE has been attended by more than 100 countries, regions and international organizations, including developed countries, developing countries and some least developed countries. CIIE specially invited small and medium-sized companies from dozens of least developed countries to participate in the fair.

Afghan exhibitor Ali Azghar Faiz felt that CIIE is a useful platform for countries like Afghanistan.

He said that with the help of CIIE, he can not only introduce Afghan products in China, but also promote them in many other countries, which would be a support to the Afghan people.

Still on the road to expanding its “circle of friends”, China will continue to implement the Regional Comprehensive Economic Partnership and advance its accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement.

DOUBLE CARBON

Since China announced in 2020 the goals of peaking carbon dioxide emissions by 2030 and achieving carbon neutrality by 2060, the country has aligned its strength with pro-ecology and low-carbon efforts to accelerate the realization of its carbon goals.

With visible ecological progress, companies in various industries, including traditional energy, construction, clothing, food and new materials, have incorporated a low-carbon vision into their products and services presented at the fair.

New Zealand milk brand Theland, for example, was exhibiting its “carbon neutral milk”, which showed a low-carbon whole industrial chain.

“We want to contribute efforts to China’s ‘dual carbon’ goals,” said Sheng Wenhao, CEO of Theland Asia-Pacific region.

A report by French bank Societe Generale estimates that to achieve carbon neutrality by 2060, China’s green investment needs to reach 2.2 trillion yuan per year in the current decade, and the amount will grow to 3.9 trillion yuan in the period from 2031 to 2060.

Also Read :  Travel’s Growth Remains Flat

INNOVATION

From a virtual reality mining experience, a remote 5G excavator ride to personalized fragrance recommendations using brainwave scanning devices, a variety of high-tech gadgets reflect China’s innovation-driven industry upgrade.

“China is a world leader in digital supply chain management and digital consumption and lifestyles. This is not only the foundation for China’s economic resilience, but also the reason why global companies are flocking to China,” said Michael Bi, EY Greater Partner to manage the Chinese markets.

The country’s digital economy has reached US$7.1 trillion in 2021. It accounts for more than 18 percent of the total of the 47 major countries involved and is second only to the United States, according to a white paper published by the Chinese Academy of Information and Communication Technology.

HEALTH

The size of China’s healthcare industry is expected to reach 16 trillion yuan by 2030, according to the “Healthy China 2030” plan released by the Chinese government.

To meet the growing needs of Chinese people for physical fitness and sports, Decathlon, the world’s leading sports equipment retailer, has introduced a multi-functional rowing machine that combines the features of a piece of furniture and fitness equipment.

“Chinese people are striving for a higher standard of living, which includes voluntarily promoting sports awareness and upgrading their consumption of sports,” said Pascal Bizard, senior vice president of Decathlon China.

The company believed China’s sports industry, a trillion-dollar industry, would continue to unleash market dividends and opportunities, Bizard says.

Source

Leave a Reply

Your email address will not be published.

Related Articles

Back to top button