The 9th China International Import Expo (CIIE) opened on Thursday in Shanghai, drawing thousands of international companies seeking opportunities in the Chinese market.
Running from November 5 to 10, this year’s expo has attracted 4,142 overseas exhibitors, with a total exhibition area exceeding 440,000 square meters, according to the Ministry of Commerce.
More than 300 Fortune Global 500 companies and industry leaders are expected to participate, a record high. Over 2,000 companies will also be making their debut at the expo.
Since its launch in 2018, the CIIE has continued to attract international businesses of all sizes, offering them a platform to introduce new products to Chinese consumers and expand their presence in the world’s second-largest consumer market.
Danish pharmaceutical giant Novo Nordisk, which has participated in all eight previous editions, is showcasing several medicines at this year’s event, including Kyinsu, a once-weekly injection for type 2 diabetes.
“The CIIE has become an important part of our work in China,” said Mike Doustdar, president and CEO of Novo Nordisk. “This is our ninth consecutive year taking part, and many medicines we first presented at the expo have since launched here.”
This year, more than 480 products and exhibits are set to make their global, Asian or China debuts, the highest number in the expo’s history.
Canadian athletic apparel brand lululemon is also returning for the third consecutive year. China has become the company’s second-largest market globally.
“The CIIE is far more than a platform to showcase products,” said San Yan Ng, regional president of lululemon China and APAC. “It also gives us the opportunity to engage in deeper dialogue and build stronger connections with Chinese guests, partners, government stakeholders and friends from all sectors.”
A platform for wider market access
The CIIE is a prominent example of China’s efforts to open its market wider and facilitate entry of quality products from around the world. China expects the expanded imports will boost domestic demands and support its industrial upgrading.
Data from the General Administration of Customs of China shows that imports reached 16.7 trillion yuan (about $2.48 trillion) in the first nine months of this year, up 22.3% year on year, the fastest growth since 2021.
Import growth outpaced export growth by 5.9 percentage points, while imports from more than 110 countries and regions grew faster than exports to those markets, according to the official data.
The expo’s significance, however, extends beyond the participation of multinational corporations. It also provides smaller businesses, particularly those from the Global South, with opportunities to access the Chinese market.
This year’s arrangements reflect that emphasis. The exhibition area for products from Asian and African countries will be further upgraded, while free exhibition space allocated to least developed countries will increase by 17%.
At a time when protectionist measures are gaining ground in parts of the world, the CIIE offers a platform for international businesses to explore new markets and maintain commercial ties. Its continued development also highlights the role of market openness and international trade in creating opportunities for businesses across the world.
