CIIE signals China's opening up to world
The second China International Import Expo (CIIE) is being held in Shanghai from Nov. 5 to 10. With the theme of "New Era, Shared Future," the expo signals China's determination to pursue high-quality opening up and work with other countries to build an open world economy.

◆ Market opening up

The CIIE is the world's first import-themed national-level expo initiated in 2018. It is a major initiative from China to open up its vast domestic market.

This year's expo hosts 26 international organizations and nearly 3,900 companies from 155 countries and regions, and is expected to attract 500,000 buyers and visitors over its duration. The event is proof that businesses all over the world are eager to tap into the Chinese market and expand cooperation.

At the opening ceremony of the expo, China's authorities promised to further open up its market by boosting imports. The country will continue to lower tariffs and institutional transaction costs, develop demonstration zones to promote import trade by creative means, and import more high-quality goods and services from around the world.

Parallel session "E-commerce in the Digital Era" of the second Hongqiao International Economic Forum is held in Shanghai, east China, Nov. 5, 2019. [Photo/Xinhua]

Jean-Paul Agon, CEO of L'Oreal:

In China, in India and even in Africa, e-commerce is creating a leapfrog dynamic. Tens of millions or hundreds of millions now have access to good products, good drugs, good cosmetics or good food, where before they could not have access.

Liu Liange, chairman of the Bank of China:

E-commerce has also revolutionized areas like banking, with Bank of China now better able to support SMEs – something that was previously considered difficult and not cost effective – and provide financial services to more remote regions.

(Sources: Xinhua,, CGTN)

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