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The China International Import Expo Opened in Shanghai

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    November 21, 2022 10:27 PM EST

    Companies from 145 countries and regions of the world are taking part in the fifth China International Import Expo (CIIE), which takes place in Shanghai on November 4-10. The opening ceremony was held on Friday. The organizers of this international exhibition claim that its scale will be larger than last year.To get more news about china international import expo 2022, you can visit shine news official website.

    The theme of this year’s Expo is “Stimulating Global Opening-up for Shared Opportunities of Cooperation and Development“.

    The Chinese President Xi Jinping said on Friday that “China will call all countries and parties to share opportunities for deepening international cooperation, fully and deeply participate in the reform of the World Trade Organization, and promote trade and investment liberalisation and facilitation.”

    Xi Jinping secured a third term as general secretary at the ruling Communist Party’s twice-a-decade congress last month, where he urged the party to brace for hardship and strengthen national security.
    For the past three years, the CIIE has been held under severe anti-Covid restrictions with a significantly smaller number of foreign participants. Most of the events related to business contacts and presentations of foreign products have moved online. This year was no exception, as crossing the border with China is still fraught with a number of difficulties and inconveniences.

    Nevertheless, the exhibition is still one of the largest in China, the leading economy in the world, ahead of the United States. This year, 66 countries, including Russia and India, and three international organizations will present their expositions at the National Exhibition and Congress Center.

    According to this indicator, as the deputy head of the organizing committee of the event Sun Chenghai said earlier, this year’s exhibition will surpass last year’s. Eight countries, including the Democratic Republic of the Congo, Djibouti, Iceland, Iraq, the Comoros, Mauritania, Mozambique and Nicaragua, will participate for the first time.

    The organizers have not yet published data on the total number of companies at the Expo. It is only known that at the current exhibition to 284 increased the number of present companies that are included in the list of 500 largest in the world.
    The IMF Managing Director Kristalina Georgieva attended the opening ceremony. She said that “trade has been an engine of shared growth for Asia and the world” and “We must safeguard and promote trade openness—both at home and by cooperating to build a stronger global trading system centered on the World Trade Organization.”

    Kristalina Georgieva added that the IMF latest economic outlook for the region, released last week, includes a scenario that illustrates the potential costs : “If the world—and our trade—were to divide into two blocs, we estimate permanent annual losses of 1.5 percent of GDP globally, with losses over 3 percent of GDP in Asia and Pacific countries, reflecting the key role trade plays in the region.”

    The IMF Managing Director then called China to greater openess of its domestic market to foreign investors and trade companies : “For China, there is room to further open up domestic markets, deepen reforms of state-owned enterprises, ensure competitive neutrality with private firms, and further strengthen the protection of intellectual property rights.”

    Kristalina Georgieva concluded by calling for reforms of the WTO, as the organization is criticized by countries like China and Russia : “China also has a key leadership role in the WTO. Together with other major economies, China can help strengthen the multilateral system.”