The China International Import Expo (CIIE), a flagship initiative of President Xi Jinping, runs through Nov. 10 under the theme “New Era, Shared Future,” Anadolu Agency reported.
Launched by Xi in 2018 to demonstrate China’s commitment to opening its market, the annual event brings together international companies seeking access to Chinese consumers and businesses.
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Speaking at the opening ceremony, Vice Premier Ding Xuexiang described the expo as a practical contribution to promoting an open global economy.
“Everyone is concerned about trade market issues, the key is how to realize trade balance,” he said, adding that the event was both a measure to expand imports and an effort to support an open world economy.
US exhibitors occupy the largest exhibition area at the National Exhibition and Convention Center for the eighth consecutive year. Companies from Germany, the UK and France are also among the leading participants.
More than 300 Fortune Global 500 companies and industry leaders are taking part, marking a record for the event. More than 2,000 companies are making their debut this year.
The expo’s innovation incubation section features 633 technology and innovation projects from nearly 40 countries and regions, an increase of almost 20% from the previous edition.
The first eight editions attracted participants from more than 180 countries, regions and international organizations. They also saw over 3,400 new products, technologies and services unveiled, while cumulative intended deals exceeded $580 billion.
