Editor's note: Liu Chunsheng, a special commentator for CGTN, is an associate professor at the Beijing-based Central University of Finance and Economics. The article reflects the author's opinions and not necessarily the views of CGTN.

Since its inception in 2018, the China International Import Expo (CIIE) has become a symbolic platform showcasing China's commitment to opening up to the world. This year, its seventh edition, which opened in Shanghai on November 5 and will run till November 10, is being attended by over 3,400 exhibitors from more than 150 countries, regions and international organizations.

New participants such as Norway, Slovakia, Benin, Burundi and Madagascar, and organizations like the United Nations Children's Fund demonstrate the CIIE's expanding "circle of friends" as its influence spreads across the global economy.

For Chinese enterprises, the CIIE is a window to the world, bringing together a large number of international buyers and providing Chinese companies direct access to the global market. Whether in traditional manufacturing or emerging technology industries, businesses can showcase their high-quality products and services here. By establishing long-term stable cooperative relationships with international buyers, Chinese enterprises can enter the global market more smoothly and enhance their position in the global supply chain. Through communication, they can gain a deeper understanding of the needs and trends of the international market, which enables them to adjust their products and marketing strategies to better compete globally.

A standout performance at the CIIE helps Chinese brands shine brightly on the international stage. International media, industry experts and global buyers have been focusing on the CIIE, highlighting the high-quality exhibits of Chinese companies and effectively upgrading the traditional perception of Chinese products in the international market. 

For instance, in recent years, some Chinese machinery equipment companies have been displaying intelligent, high-precision devices at the CIIE, establishing a high-end image of Chinese brands. This recognition and trust in Chinese brands lays a solid foundation for the expansion of their overseas business.

But more importantly, the CIIE is a powerful antidote to the rising trend of trade protectionism. It encourages countries to lower trade barriers and engage in fair, just and transparent trade competition, achieving optimal resource allocation and mutual benefits. For example, specialty agricultural products and handicrafts from other developing countries enter the Chinese market through the CIIE, creating more choices for consumers in China while injecting new vitality into their own economies.

In today's world, the globalization of industrial chains has become an unstoppable trend. The CIIE has become an important venue for exchange and cooperation among enterprises at various stages of the global supply chain. From raw material suppliers to component manufacturers and end-product producers, businesses from different countries and regions seek cooperation opportunities at the CIIE. Such cross-regional and cross-industry collaboration improves production efficiency, reduces costs and enhances product quality.

For instance, in the electronic information industry, chip manufacturers, software developers and electronic equipment assemblers have in-depth negotiations at the expo, forming closer industrial chain cooperation and driving the development and innovation of the entire industry.

As a vast array of advanced international technologies is displayed and exchanged, Chinese enterprises can introduce leading production technologies, research and development concepts and management models through cooperation with top international firms. This plays a crucial role in the transformation and upgrading of traditional industries and the growth of emerging ones.

Taking the automotive industry as an example, cooperation with well-known foreign car brands and component suppliers has led to significant progress in new energy vehicle technology and autonomous driving for Chinese car companies. Additionally, improvements in corporate management have enhanced the competitiveness of the entire industry, promoting high-quality development.

The expo brings global high-quality goods and services to Chinese consumers, optimizing the structure of the domestic consumption market. The introduction of luxury consumer goods, high-quality healthcare products and unique cultural items meets the demands of middle-to-high-end consumer groups in China, leading to consumption upgrades.

This optimization of consumption patterns also drives the development of related domestic industries, creating a virtuous cycle where consumption upgrades promote industrial upgrading, fostering high-quality economic development.

But perhaps the most important facet of the CIIE is that it acts as a bridge for multilateral cooperation among nations and regions. During the expo, government officials, business representatives and scholars from around the world gather to discuss trade policies, investment environments and industrial cooperation. This mechanism of multilateral exchange and cooperation helps eliminate misunderstandings and differences between countries, creating conditions for more stable and sustainable international partnerships.

The CIIE will continue to play an irreplaceable role in promoting China’s commitment to wider opening up and building an open world economy. It will assist China's high-quality development and provide a platform for cooperation among countries and regions, representing a significant opportunity for global economic development. 

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