The 4th China International Import Expo (CIIE) kicked off in Shanghai on Nov. 5. A total of 58 countries and three international organizations have attended the online country exhibition of the event, and nearly 3,000 companies from 127 countries and regions have brought their products to the business exhibition.
The numbers of enterprises as well as countries and regions that have been attracted to the event both surpassed those of the 3rd CIIE last year.
Many products of German pharmaceutical company Boehringer Ingelheim made their global or Asian debut at the 4th CIIE.
In 2020, the company launched its external innovation hub in Shanghai, the first of its kind ever built by pharmaceutical multinationals in China. This year, it completed the phase II expansion of its biopharmaceutical base in the Zhangjiang High-Tech Park, Shanghai, tripling the production capacity of the base.
“We have attended the CIIE for three years in a row because we really value and have confidence in the prospects of the Chinese market,” said Felix Gutsche, president and chief executive officer (CEO) of Boehringer Ingelheim China.
“We have also benefited from the spillover effect of the CIIE. Not only have our exhibits at the CIIE turned into commodities, but our company has evolved from an exhibitor to an investor in China,” he added.
This year’s CIIE is holding the country exhibition online for the first time. With 3D modeling, virtualization engine and other technologies, it has set up immersive digital pavilions for countries to showcase their development achievements, leading industries, representative enterprises as well as culture and tourism, fully demonstrating the economic situations of various countries and diverse civilizations in the world.
The Republic of the Congo, Kiribati, Mauritius, Solomon Islands and Palestine have joined in the CIIE for the first time.
The active participation of companies in the CIIE not only mirrors the appeal of the platform, but vividly reflects overseas enterprises’ expectation and recognition of the Chinese market, said Sun Chenghai, deputy director of the CIIE Bureau.
Thanks to the CIIE, Jungheinrich AG, a leading intralogistics solutions provider based in Germany, has grown from a hidden champion in the industry in Europe into a world-famous brand, pointed out Bai Daping, general manager of Jungheinrich AG China. The company has attended the CIIE for four consecutive years.
“Our exhibits at the 1st CIIE have now boasted a market share of more than 50 percent. The products we brought to the second CIIE can now be manufactured by a factory in Kunshan city, east China’s Jiangsu province, which helps cut our costs by 25 percent.
Our factory in Qingpu district, Shanghai, can not only feed the Chinese and Asian-Pacific markets, but make products for European markets,” Bai said.
As one of the first batch of bonded artworks for the 4th CIIE, a pumpkin sculpture made by Japanese artist Yayoi Kusama that worth over one million dollars, arrived in Waigaoqiao bonded area, part of the China (Shanghai) Pilot Free Trade Zone (SHFTZ), on Oct. 25.
For the first time, the CIIE has set up a section for cultural relics and artworks at the exhibition area of trade in services.
Contemporary artworks, decorative arts, ancient paintings and calligraphy works, porcelain and other kinds of cultural relics from 11 countries and regions are displayed at the 4th CIIE.
They are estimated to be worth nearly two billion yuan in total, noted Wang Jiaming, deputy director of an international cultural investment company registered at the SHFTZ.
A tax exemption policy rolled out since the 3rd CIIE has made auction house Sotheby more motivated to participate in this year’s expo.
The policy, issued by China’s Ministry of Finance, General Administration of Customs and State Taxation Administration last year, specifies that exhibitor of artworks, collectible objects and antiques can be exempted from paying import tariffs, import value-added tax and consumption tax for a maximum of five items sold at the 3rd CIIE.
In fact, all measures for further opening-up announced by China at the previous expos are being implemented.
Focusing on world economy amidst profound changes, the 4th Hongqiao International Economic Forum, a part of this year’s CIIE, provides a platform for people from political circle, business, and academia to discuss global economic cooperation in the post-COVID era.
Guests at the 12 sub-forums of the 4th Hongqiao International Economic Forum are expected to exchange ideas on hot topics including green development and digital economy and explore paths to building a community with a shared future for mankind.
The World Openness Report 2021 and World Openness Index, which evaluate the openness level of 129 economies since 2008, are expected to be released during the forum.