EconoScope | 7th CIIE to continue to expand opening-up and offer opportunities

(ECNS)-- Promotion events for the 7th China International Import Expo (CIIE) have been held in 30 countries and regions. The number of companies that have signed up on platforms for businesses exceeds 1,000, including nearly 260 Fortune 500 giants and industry leaders, according to the CIIE.

Rwanda, one of the 45 least developed countries designated by the United Nations, has been a participant with "full attendance" in the CIIE for six years.

The African nation has displayed coffee, tea, chili peppers, and honey at the expo, with the chili peppers sold to China boosting the income of Rwandan farmers fivefold.

The successful international expo has been supported by China’s solid growth in foreign trade.

As of 2023, China has been the world's largest trading nation for seven consecutive years, with an average of 114.4 billion yuan (about $15.73 billion) of international goods traded daily. 

China has linked the world with high-standard opening up to achieve win-win cooperation, facilitating commodity flow across the globe. 

China's vast consumer market contributes to the development of the expo. Over 1.4 billion people and 400 million middle-income consumers comprise the world's second-largest consumer market and the largest online retail market, showing its strong vitality and huge potential.

With consumption demand increasing, China’s market has been expanding.

Gathering high-tech products from the up and downstream supply, the CIIE has served as an international platform where global industries share their creative ideas and regulations.

China has been the world's second-largest import market for 15 consecutive years and a major trading partner for more than 140 countries and regions.

The latest edition of Global Trade Outlook and Statistics forecasts that world merchandise trade volume is expected to grow 2.6 percent in 2024 and 3.3 percent in 2025 as demand for traded goods rebounds.

The 6th CIIE had a cumulative intended turnover of $78.41 billion.

With China advancing high-standard opening-up, the 7th CIIE, scheduled to be held in Shanghai on November 5-10, will continue to inject impetus to the world economy.