The 4th China International Import Expo (CIIE) in Shanghai Photo: CFP

 
The confidence foreign companies have on the vast Chinese market again paid off at the 4th China International Import Expo (CIIE) in Shanghai, as more than $70 billion worth of intentional deals were inked during the fourth edition of the world's largest import expo, officials disclosed on Wednesday during the closing ceremony of the fourth CIIE. 

The 4th CIIE wrapped up on Wednesday, with tentative deals worth $70.7 billion reached for purchases of goods and services, down 2.6 percent year-on-year, Sun Chenghai, deputy director-general of the CIIE Bureau, said on Wednesday. 

Highlights of the 4th CIIE.Graphic:Huo Siyu/Global Times

 
Around 2,900 companies from 127 countries and regions attended this year's CIIE, with an exhibition area of 366,000 square meters, which set a new record in the history of the event. About 422 new products and services were launched during the expo. 

More than 280 Global 500 companies attended this year's CIIE, with about 40 of them making debut. About 120 companies had attended the CIIE for the fourth time.

The fourth CIIE has six exhibition areas including consumption, automobile and services trade. The consumption exhibition area exceeded more than 90,000 square meters, the largest among all the sectors. 

Highlights of the 4th CIIE.Graphic:Huo Siyu/Global Times

 
Many overseas exhibitors held the function as crucial to their businesses at a time when global trade is battered by the pandemic as well as rising protectionism. They saw the event as a testimony of China's determination to further open up its markets. Such an opening-up attitude has also been an important incentive for them to continue investment in the country in spite of external difficulties. 

"CIIE not only showcases China's strength in trading, but also demonstrates its determination to drive deeper reforms and opening-up to the world … it is a strong step forward for us to continue and increase our commitment in China," Greg Holman, President of Stryker China, told the Global Times. 

Highlights of the 4th CIIE.Graphic:Huo Siyu/Global Times

 
"We have never stopped the pace to invest in China, even during the worst epidemic period in 2020,'' Michael Fuebi, CEO of TUV Rheinland AG, told the Global Times, noting that China has always been the top priority in terms of the group's strategic development planning.

Aria Yan, head of marketing at Swarovski Crystal Business in China, told the Global Times that they have already started planning to participate in the fifth CIIE. Yan also noted that the market in China is the largest one for the company and store upgrading will be the priority in the market than any other regions.

Highlights of the 4th CIIE.Graphic:Huo Siyu/Global Times

Global Times