Amid various uncertainties and complexities in the global economy and trade, establishing deeper and closer business ties is particularly vital for driving economic growth and advancing technological innovation in a safe manner, said officials and top executives from multinational companies attending the 7th China International Import Expo.
World economic recovery still awaits more impetus while countries need to address different problems on their development path. Cooperation is needed to promote world economic growth, for which China is making its due contribution, Premier Li Qiang said in his keynote speech at the opening ceremony of the 7th CIIE on Tuesday.
As geopolitical tensions intensify and signs of fragmentation have emerged in global trade and investment, it is crucial for political and business leaders around the world to collaborate on preserving and reforming the multilateral trading system, said Ngozi Okonjo-Iweala, director-general of the World Trade Organization, in a video speech at the CIIE opening ceremony.
A large number of new growth engines have been nurtured amid the new round of technology and industrial revolution around the world. While China has been advancing its opening-up via innovative cooperation, it is willing to further open up its massive market, including implementing more unilateral opening-up measures, said Premier Li.
While China will expand institutional opening-up, it will continue to smoothly advance opening-up in telecommunications, internet, education, culture and medical care and further adopt unilateral visa-free policies. To boost stronger economic growth, the Chinese government will work with different parties to focus on frontier technologies such as artificial intelligence and step up cooperation in technology and industrial innovation, he said.
Roy Jakobs, CEO of Royal Philips, praised China's transformation into an innovation hub, emphasizing the importance of understanding supportive policies that foster innovation both domestically and globally. He noted that the CIIE has been a key platform for companies to connect closely with technology and innovation players, as well as with the government.
China's high-quality opening-up shows its willingness to create more value for the world, said Frank Hammes, global CEO of Swiss air quality company IQ Air, who is attending the CIIE in person for the third time.
China has been contributing more to the international value chain by integrating digital services and focusing more on sustainability, he said.
Multinational consumer goods company Unilever is attending the CIIE for the seventh consecutive year. China's vast market, robust supply chain, and advanced digital innovations are some of the key reasons for the company's continued participation in the expo, as well as its deeper engagement in the Chinese market, said Chen Ge, Unilever's country head in China.
Covering over 420,000 square meters, the 7th CIIE has attracted participation of about 3,500 exhibitors. Up to 297 Fortune Global 500 companies and industry leaders are present at this year's expo, hitting a new record high. The combined value of intended deals signed during the past six editions exceeded $420 billion.
