The entrance of the National Exhibition and Convention Center (Shanghai), which is the main venue for the upcoming fifth China International Import Expo (CIIE). (PHOTO: XINHUA)

By WANG Xiaoxia

The fifth China International Import Expo (CIIE) is around the corner. Five years on, the evolution of the CIIE is a shining example of China's continued opening-up, and a reflection of the shared opportunities and win -win cooperation for businesses from around the world.

According to statistics, at the last four CIIE, more than 1,500 new products, new technologies and new services made their debut, and tentative deals valued at more than 270 billion USD were reported.

The CIIE has played an active role in improving domestic supply, promoting industrial and consumption upgrading, and constructing new development patterns, said Sheng Qiuping, vice minister of commerce.

This year's CIIE sees unprecedented progress. Three global high -fashion giants, top 10 medical device enterprises, top 10 medicine enterprises and top 10 vehicle enterprises will all participate in the exhibition.

Shanghai International Sister Cities Hub, launched on September 29, is a new platform to help promote products displayed at the CIIE from Shanghai's international sister cities, all year round.

"Despite the uncertainty of the external environment, the CIIE will be held offline as planned. It is this kind of certainty that gives the world even more confidence in China's sure -footedness and determination to grow with its global partners," said Pietro Brambilla, chief financial officer of L'Oreal North Asia and China.

The CIIE is not only an international trading event, but also an important engine for high-quality economic development of China and its integration into the global market.

Since the first CIIE, China has been improving regulations while opening up, and supportive policies have been implemented, which further optimized the business environment and promoted high-quality economic development, said Dong Yu, executive vice president of the China Institute for Development Planning, Tsinghua University.

During the first eight months of 2022, 120 key projects were signed in the Hongqiao International Central Business District, where the CIIE is located, with the intended investment of 82.721 billion RMB, up 60 percent year-on-year.

From the CIIE, China International Fair for Trade in Services and China International Consumer Products Expo to the implementation of RCEP and the reduction of the negative list for foreign investment access, China has been committed to opening up at a higher level and supporting economic globalization with its own actions.