China’s Role in Reviving Global Economy 中國在全球經濟復甦中的作用

China stands as a beacon of economic prowess, renowned as the world’s manufacturing hub, and a powerhouse of trade. Its formidable reputation as the largest exporter is underpinned by unparalleled factors: competitive pricing, unmatched quality, speedy deliveries, and staggering volumes. Chinese products dominate international markets, thanks to the efficiency of its labour force and reasonable labour costs. Moreover, China’s abundance of raw materials further reduces product costs, making them irresistibly competitive on a global scale. This competitive edge, coupled with China’s enticing policies, fuels the nation’s entrepreneurs, driving increased production and exports.


Yet, China’s significance in the global economy extends beyond its exporting prowess; it is also one of the world’s largest importers. With a colossal market boasting 1.4 billion consumers and high purchasing power, China provides a fertile ground for imported goods. In a unique approach, China not only promotes exports but also hosts the world’s only Import Expo, showcasing a commitment to global responsibility, multilateralism, and narrowing trade gaps with other nations. To further enhance its imports, China is the only country in the world, organizing Impost expos. Usually many countries only promote exports and organize export expos. China is unique in this respect, as it understands its global responsibility and promote multilateralism and sincerely desires to narrow down the trade gaps with other nations.


The sixth China International Import Expo (CIIE), scheduled for Nov. 5-10 in Shanghai, has attracted attendees from 154 countries, regions and international organizations, including the least developed, developing and developed nations. Over the past five years, the annual China International Import Expo (CIIE) has become a symbol of China’s high-level opening-up and an emblem of its ongoing endeavours to build an open global economy. It has attracted attendees from 154 countries, regions and international organizations, including the least developed, developing and developed nations. Approximately 200 companies have committed to participating for the sixth consecutive year. In the Country Exhibition, among the 69 countries participating, 16 are the least developed countries. Various agricultural and handicraft products from them will be showcased. The exhibition area of the expo will be around 367,000 square meters, and 289 Global Fortune 500 companies and industry-leading enterprises are poised to attend the expo, both exceeding the previous levels.

第六屆中國國際進口博覽會將於11月5日至10日在上海舉行,吸引了包括最不發達國家、發展中國家和已開發國家在內的154個國家、地區和國際組織參加。五年來,一年一度的中國國際進口博覽會已成為中國高水準對外開放的象徵,也是中國推動建構開放型世界經濟的象徵。本屆論壇吸引了來自最不發達國家、開發中國家和已開發國家等154個國家、地區和國際組織的參與者。大約有 200 家公司連續第六年承諾參與。在國別展上,參展的69個國家中,有16個是最不發達國家。他們的各種農產品和手工藝品將被展示。本屆博覽會展覽面積約36.7萬平方米,289家全球500強企業及產業龍頭企業參展,數量均超過歷屆。

This increased global engagement signifies the world’s strong confidence in China’s economy, bolstered by a 5.2% GDP growth in the first nine months of the year. The event’s expansion reflects global enthusiasm to explore China’s vast market, driven by robust demand and significant consumption potential resulting from China’s success in reducing poverty and nurturing a thriving middle class.


China’s dominance is evident in sectors like electric vehicles (EVs), where it stands as the world’s largest market. In 2022, over 60% of global electric car sales occurred in China, housing more than half of the world’s total EVs. Recognizing this potential, international companies launch their flagship products at China’s import expo, tailored to meet the evolving needs of Chinese consumers. “The CIIE prompts us to identify export opportunities that align with China’s demands, ultimately benefiting Thailand,” stated Phumtham Wechayachai, Deputy Prime Minister of Thailand, reflecting the expo’s global impact.

中國在電動車(EV)等領域的主導地位顯而易見,是全球最大的市場。 2022年,全球電動車銷量的60%以上發生在中國,中國擁有全球電動車總量的一半以上。認識到這一潛力,國際公司在中國進口博覽會上推出了旗艦產品,以滿足中國消費者不斷變化的需求。泰國副總理 Phumtham Wechayachai 表示:「進博會促使我們尋找符合中國需求的出口機會,最終使泰國受益。」這反映了進博會的全球影響力。

That’s not all. The import expo has gone beyond being a mere trade fair. It has served as a window for the world to closely observe and better understand China’s new development paradigm, where domestic and overseas markets reinforce each other, with the domestic market as the mainstay. China has stressed that making the domestic market the mainstay does not mean the country will develop its economy with the door closed, a fact affirmed by the expo.


The expo exemplifies how the new paradigm works. By giving full play to the potential of the domestic market, both domestic and foreign markets can be better connected and utilized to realize robust and sustainable development.


Furthermore, the CIIE has evolved into an international public good, facilitating global business ties, innovative exchanges, and enduring relationships. Josie Zhang, President of Burberry China, underscores the expo’s significance: “The CIIE offers exciting new platforms for global businesses and partners to strengthen ties, exchange ideas steeped in innovation, and forge lasting relationships with one another.”


In a world grappling with the aftermath of the pandemic and resistance against globalization, the CIIE showcases China’s commitment to expanding the global market, enhancing mechanisms for benefit sharing, and promoting genuine multilateralism. This expo serves as a catalyst for rebuilding global consensus, fostering an open world economy, and nurturing authentic international cooperation.


China’s instrumental role in reviving the global economy post-COVID is undeniable, and the CIIE promises far-reaching impacts on the global economic landscape. The nation’s dedication to fostering collaboration and mutual growth is not just commendable—it is transformative.


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