The China International Import Expo (CIIE) 2023 will be held from November 5-10 in Shanghai, drawing a larger number of exhibitors from across the world to participate offline.

Now in its sixth year, the event has become a platform for promoting China's high-level opening-up policies and serves as an international public good, according to Sheng Qiuping, Vice Minister of Commerce, speaking at a press conference on Monday.

A total of 289 Fortune 500 companies and industry leaders will participate in the enterprise exhibition this year, an increase from last year.

Industry heavy-weights joining the exhibition include the world's top 15 vehicle brands, top 10 industrial electrical companies and top 10 medical equipment companies.

Participants from 154 countries, regions and international organizations are expected to join the expo in a larger exhibition area. The expo anticipates welcoming 3,400 exhibitors and 394,000 professional visitors, back to the pre-pandemic level. 

Belt and Road (BRI) participating countries account for the majority of the national pavilions. 69 countries and three international organizations have confirmed their participation in the national pavilion, of which 64 are BRI partner countries.

Among the highlights of this year's exhibition are cutting-edge technologies, including low-carbon energy and artificial intelligence. More than 400 new products, new technologies, and new services will be showcased at the expo. 

Facilitate foreign trade

Since the first CIIE was held in 2018, the five CIIEs have witnessed the launch of more than 2,000 new products, technologies, and services. 

On one hand, the CIIE facilitates foreign trade by smoothing domestic circulation by importing advanced equipment and consumer goods to help with industrial upgrading and improving the quality of consumer goods, according to Sheng. On the other hand, it promotes dual circulation by linking international exhibitors with domestic ones, he added.

Tentative deals worth almost $350 billion were reached at the previous five expos, facilitating to stabilization of foreign trade and investment, said Sheng.

China has launched a series of policies to stabilize foreign trade growth and optimize the structure this year. Sheng said the commerce department, along with other relevant departments, will continue to offer policy support including offering favorable import tax rates and building import demonstration zones.

Sheng emphasized giving full play to the leading role of exhibitions like CIIE in promoting the import of high-quality products.

"China will amplify the spillover effect of various exhibitions to match more high-quality products with enterprises, allowing more companies to share the opportunities of its market," said Sheng.

The Hongqiao forum will open on the sidelines of the CIIE themed on development and openness, with an aim to promote multilateralism.