The third China International Import Expo (CIIE) will be held as scheduled offline from November 5 to 10 in Shanghai amid the coronavirus pandemic, showing China's determination to further open up, a CIIE Bureau official said on Friday.
The event can also accelerate the recovery of the global economy, said Sun Chenghai, vice director of the CIIE Bureau, during a press conference on Friday.
Despite rising China-US tensions, the US multinationals still show willingness to expand in the Chinese market. Over 150 US companies including industrial leaders such as 3M, Qualcomm Technologies, Pfizer and Exxon Mobil Corp will participate in the expo, based on data released by the CIIE Bureau. More than 190 US firms attended the second CIIE.
Despite the impact of the uncertainties between China and the US as well as the pandemic, many US firms still decided to take part in the event "as they trust the market potential and improved business environment in China," Wang Xiaohong, professor at the China Center for International Economic Exchanges, told the Global Times on Friday.
Also, over 140 companies from Germany and 150 companies from Australia are scheduled to take part in the event, according to official data.
Both production and consumption have been "seriously impacted" in many countries due to the COVID-19 pandemic, Wang said, noting that the CIIE shows China hopes to establish a platform to "welcome businesses from across the world" to seek opportunities.
"It releases a signal that China will firmly continue its opening-up and improve its business environment to attract more international businesses," Wang said. Many offline events have been moved online or canceled due to the pandemic, such as the Shanghai Rolex Masters and other international sports events.
Bai Ming, a research fellow at the Chinese Academy of International Trade and Economic Cooperation, echoed the opinion. The event will be held offline, providing channels for enterprises to demonstrate their products, which also indicates the country's "confidence and determination" in epidemic prevention and control, Bai told the Global Times on Friday.
The Enterprise & Business Exhibition area of the third CIIE will be expanded to 360,000 square meters, up 20 percent from the second expo. The exhibition area for consumer goods, healthcare and services trade has exceeded the planned exhibition area, according to the bureau.