How Will China’s Pledge to Import Much More be Achieved?

During the opening ceremony of the China International Import Expo (CIIE) in Shanghai on Nov. 5, China announced its import of goods and services are expected to exceed US$30 trillion and US$10 trillion respectively in the coming 15 years. China has been the world’s second largest merchandise importer for nine consecutive years. Last year, import of goods reached US$1.84 trillion, an increase of 15.9 percent from 2016. Against the background of such an encouraging performance, a total of 172 countries, regions and international organizations from five continents are currently showcasing their development achievements and what they have to offer at the CIIE, a unique event being held for the first time. More than 3,600 companies from other countries are taking advantage of the occasion to seek common development with hundreds of thousands of potential Chinese purchasers. What will China import? The top 10 imports last year were electrical machinery, equipment; mineral fuels, including oil; machinery, including computers; various mineral ores, slag, ash; optical and medical apparatus; vehicles; plastics and plastic articles; organic chemicals; oil seeds; and copper. These items account for three-quarters (75.2 percent) of China’s overall imports from the rest of the world. Imported mineral fuels, including oil, grew the fastest (up 40.2 percent from 2016). In second place in this regard were purchases in the ores, slag and […]

CIIE: New chapter for India-China trade

All eyes are on next week’s mega event, the China International Import Expo (CIIE) in Shanghai which opens on November 5. The world’s first import-themed expo, the CIIE is going to be a path-breaking event in the process of China’s opening-up which not only represents China’s sincere strategy to further open its market to the world, but also reflects the win-win spirit of the Belt and Road Initiative. According to media reports, the six-day import fair will draw the participation of more than 2,000 government officials, international organization leaders, renowned entrepreneurs and academics from over 130 countries and regions. The CIIE will not only provide opportunities for 3,000 companies around the world to explore the Chinese market, but also create a platform for countries to share business opportunities with each other. Such levels of participation from the international community is a clear vote of confidence on China’s leading role in globalization and free trade at a time when the developing and developed worlds both face challenges in trying to overcome a tendency during tough economic times to turn toward protectionism. As such, the CIIE is an example of China’s global insight as well as its long-term goal of creating a global society that works together. During his visit to New Delhi on March 26 this year, Chinese Commerce Minister Zhong […]

Foreign Comments on Xi’s Keynote Speech

On November 5, 2018, Chinese President Xi Jinping delivered a keynote speech at the opening ceremony of the China International Import Expo (CIIE) in Shanghai. China Pictorial collected an array of comments from foreign participants at the expo. Jeffrey J. Schott, senior fellow at the Peterson Institute for International Economics: President Xi’s speech was very important for emphasizing the openness of China and the policies that China will pursue to ensure that the world is welcomed in China and do business here. Lowering the barriers at the border is important. Besides, many other initiatives that President Xi talked about with regard to investment and intellectual property are also important for promoting and maintaining economic growth in China. The growth of China will in turn support the growth of the rest of the world. Many of the items that President Xi touched upon could serve as a positive signal when he meets with U.S. President Donald Trump later this month at the G20 summit in Buenos Aires. The two sides will find ways if there is goodwill to be found in both — China and the U.S. can de-escalate the terrible trade friction. So I think there were some very important signals that President Xi gave today that will hopefully lead to more positive discussions between the United States and China […]

Xi’s Keynote Speech Inspires Chinese Participants

On November 5, 2018, Chinese President Xi Jinping delivered a keynote speech at the opening ceremony of the China International Import Expo (CIIE) in Shanghai. China Pictorial collected comments from Chinese participants of the expo: Luo Qiang, deputy secretary of Chengdu Municipal CPC Committee, mayor of Chengdu: At the opening ceremony of the China International Import Expo, Chinese President Xi Jinping’s remarks exhibited China’s resolution and attitude to drive its reform and opening-up to a deeper level as well as the country’s determination to build a community with a shared future for humanity. This year marks the 40th anniversary of China’s reform and opening-up. China’s economic development has made great contributions to the stability and growth of the world economy. The country’s reform and opening-up fuels its own development as it brings opportunities to countries around the world. Since the launch of the Belt and Road Initiative in 2013, China has been steadfastly seeking win-win cooperation and fruit sharing. Against this backdrop, the country will not close its door to the world and will only become more and more open. The initiatives proposed by China have been widely accepted and recognized by the international community. Δ Luo Qiang, deputy secretary of Chengdu Municipal CPC Committee, mayor of Chengdu. by Chen Jian Wang Tongzhou, Chairman and President of China Non-ferrous Metal Mining […]