CIIE 2020: China’s Market Openness to Foreign Enterprises

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CIIE 2020: China’s Market Openness to Foreign Enterprises

The third edition of the China International Import Expo (CIIE), the first dedicated import exhibition in the world, was held in Shanghai, from November 5 to 10.To get more news about CIIE, you can visit shine news official website.

The CIIE, as remarked by the Chinese president Xi Jinping during the opening ceremony, demonstrates China’s desire to share its market opportunities with the world and contribute to the global economic recovery amid the COVID-19 pandemic.

What is the CIIE?

The CIIE was organized for the first time in 2018, from November 5-10, under the theme of “New Era, Shared Future”, aimed at strengthening the economic cooperation and trade, while promoting global trade and world economic growth. Since then, three CIIEs have been organized and the exhibition’s popularity continues to increase.

Previous CIIE editions
In 2018, the CIIE concluded with deals worth US$57.8 billion and the expo had over one million attendees hailing from 172 countries, regions, and international organizations; more than 3,600 enterprises participated in the exhibition.

After the first edition, even though the success of the CIIE was undeniable, foreign businesses and governments complained about the lack of implementation of the promised reforms about lowering tariffs, broadening foreign market access, and increasing imports from overseas.

Nevertheless, the second CIIE, held in 2019, concluded with US$71.13 billion worth of tentative deals reached for one-year purchases of goods and services. A total of 181 countries, regions, and international organizations attended the expo; more than 3,800 enterprises participated in the exhibition.

Considering CIIE’s positive trend and the intention of many companies to attend the third edition of the expo, China had high expectations for the CIIE 2020.