The fifth edition of the China International Import Expo (CIIE), the world’s first import-themed international expo, was successfully concluded this year, breaking numerous records since its inaugural event in 2018 in Shanghai. Hosted by the esteemed port city of Shanghai in the People’s Republic of China, the expo aims to further open the Chinese market to the world and enhance economic cooperation between countries based on mutually beneficial trade.
Initial Announcement and Objectives of the Expo
Initially announced by President Xi Jinping at the Belt and Road Forum for International Cooperation in May 2017, the expo seeks to overcome the global economic stagnation and encourage countries, international organizations, and business communities from around the world to work together and promote shared prosperity through trade. The opening ceremony of the expo, held at the National Exhibition and Convention Center in Shanghai, the world’s largest single-block building and exhibition complex, was delivered by Xi Jinping. In his speech, Xi described the expo as “an important symbol of China’s new development paradigm and a high-standard platform for opening-up.” He emphasized the tangible benefits to all states and peoples globally, particularly the stakeholders of the Regional Comprehensive Economic Partnership (RCEP), the world’s largest free trade agreement.
Key Highlights from Xi Jinping’s Speech
Another significant emphasis in Xi’s speech was the establishment of new pilot zones for e-commerce cooperation under the Belt and Road Initiative (BRI) and the Digital Economic Partnership Agreement, aimed at accelerating institutionalization to foster innovative development in trade. Xi underscored China’s commitment to sharing its development experiences and opportunities with developing countries in the coming period. This speech directly reflected the decisions made at the 20th General Congress of the Communist Party of China, concluded in October. For instance, a significant report presented at the Congress indicated that China would offer favorable concessions for foreign investments, protect the rights and interests of foreign investors in accordance with the law, and promote a business environment that meets international standards.
Impact of the COVID-19 Pandemic and Expo Participation
In line with the gradual alleviation of the adverse effects of the COVID-19 pandemic, this year’s expo saw the participation of over 2,800 international organization representatives from 145 countries. Exhibitors at the expo spanned a wide range of sectors, from automobiles to smart industries, information technology to medical equipment, and health products to food and agricultural goods. Numerous major Turkish companies also participated in the expo. It was announced that, compared to the previous year, there was an increase of nearly 4% in the procurement of goods and services, with a total value of $73.5 billion in provisional agreements. Considering the $57.8 billion from the first expo, there has been nearly a 50% increase over five years, demonstrating the expo’s remarkable success. This year, approximately 500 new products and services were showcased.
Fair Trade and Globalization
Xi’s emphasis on “greater and fairer sharing with all countries and parties” in the context of trade opportunities is noteworthy for its implications for international fair trade distribution. The statements and actions of Chinese leaders highlight a stark contrast between Beijing’s understanding of “globalization” and that of Western capitalism and the neoliberal approach initiated post-1980s. Amid unprecedented changes and recession risks in the current global economy, the successive hosting of the CIIE in Shanghai for five years has undeniably provided a positive impetus to the global economy. The expo’s contributions, from 2018 to 2022, including a total turnover exceeding $350 billion and the introduction of over 1,500 new products, technologies, and services to the market, further attest to this.
Online Expo Platform and Participants
For the first time in CIIE history, an online expo platform was introduced, catering to company representatives unable to attend in person this year. The online expo, with the participation of 368 enterprises, saw 69 countries and international organizations signing agreements for the trade of goods, technology, and services online. According to a report released by CIIE officials post-expo, 284 of the world’s largest 500 companies participated in the expo. Additionally, over a thousand food and agricultural product enterprises from 104 countries and organizations were present at the expo. The attempts by the United States, particularly during the Trump administration and continued under Biden’s tenure with claims like “the biggest challenge of the 21st century will be between China and us,” to dissuade Western companies from the Chinese market by labeling it as “closed, insecure, and obscure” have evidently failed, as demonstrated by the CIIE.
Support from Shanghai Local Government
Gu Honghui, Shanghai Local Government Administrator and expo service official, stated that the expo supports principles of global openness, dialogue, cooperation, mutual benefit, and win-win outcomes. He highlighted that one of the most significant aspects of this is providing free exhibition stands to SMEs from underdeveloped countries to support developing countries. One of the defining features of this expo was its reflection of the determination of countries resisting imperialism to contribute more to international trade. Notably, representatives from Afghanistan, a country subjected to over 20 years of occupation by the United States and where significant human rights violations were committed, participated in the expo. Ali Azgar, a participant from Afghanistan, expressed to Global Times that “through this expo, we found an opportunity to introduce Afghan products not only to China but to all participating countries and organizations, providing substantial support to the Afghan people.” Participants from other marginalized countries, such as Nicaragua, Iraq, the Democratic Republic of Congo, Mauritania, and Djibouti, also attended the expo for the first time.
China’s Socialist Success and Emphasis on Technology
The significant success of socialism with Chinese characteristics, transforming a backward, semi-colonial country into a leading nation in advanced technology within 70 years, underlines the exceptional success story of hosting such expos. The Shanghai import expo highlighted smart technology and low-carbon production, showcasing integrated circuits, the latest technological products equipped with artificial intelligence, and high-end equipment manufacturing. In the consumer goods exhibition area, many exhibits actively supporting green-sustainable growth and life were introduced to participants for the first time. Visitors could create their virtual characters to enjoy the changes brought by artificial intelligence, participate in cloud conferences, watch VR holographic concerts, and organize robot world cup football matches.
China’s Economic Strength and Future Expectations
According to a report released by the National Bureau of Statistics of China in September 2022, China accounted for over 30% of global economic growth in the last decade. In contrast to the US’s unilateral trade barriers, China strives to offer the principles of multipolar and mutually beneficial trade to global economic stakeholders. Concurrently, the priorities of the Chinese economy include increasing domestic consumption, attracting foreign capital, expanding market access, encouraging the opening of modern service sectors, and providing national benefits to foreign-funded enterprises. As evidence of the country’s open-door policy, direct foreign investment in mainland China reached $168.34 billion in the first ten months of this year, marking a 17.4% annual increase. Economists are confident that foreign businesses operating in China will see even better protection of their investment rights in the future.
Post-Expo Investments and Future Plans
Shortly after the expo, investments that materialized or were planned became headlines in the Chinese press. Some examples include: In the second week of December, Amcor Plc, a packaging solutions provider based in Zurich, Switzerland, opened a new factory in Huizhou, Guangdong province, with an investment of approximately $100 million. According to Amcor, the factory is the largest flexible packaging facility in China in terms of production capacity. Willie Tan, CEO of Skechers China, South Korea, and Southeast Asia, announced plans to increase the number of stores in China from around 3,000 to 6,000 by 2026. German pump systems provider Wilo Group plans to open a new facility in Changzhou, Jiangsu province, next year. Over the next five years, China expects to import goods and services worth more than $10 trillion, presenting a historic opportunity for businesses worldwide to enter the vast Chinese market.
Importance and Future Perspective of CIIE for Turkey
The import expo, a significant component of China’s strategy to meet the increasing demands of its over 400 million-strong middle class, holds considerable potential for our country. As the world’s largest importer of food, daily use products, and raw materials, China offers significant opportunities for Turkey, which can work under state leadership to increase its exports to China by several folds in the coming years. In this context, CIIE, the world’s largest and first import expo, presents numerous opportunities such as shared development instead of zero-sum games, and cooperation and inclusiveness instead of unilateralism and exclusion. This platform elevates hopes for developing countries and marks their place in the Asian Century.
