In 2018, China hosted its first import expo to encourage imports, show its commitment to an open economy and counter anti-globalization rhetoric of Trump administration. China’s rising demand and growing consumption provides Chinese importers and global exporters plenty of opportunities. Sun Lixing, a researcher at Shanghai Academy of Social Sciences opines that, “as an import powerhouse, China should have a bigger say in the global economy.” This would help China in maintaining the international order and extending its economic cooperation with rest of the world.
This year in 2020, the third edition of China International Import Expo (CIIE) was under doubt due to coronavirus pandemic. But China’s success in controlling its spread and dedication towards opening its domestic market for foreign products paved the way for successfully hosting the Expofrom November 5-10, 2020. In the buildup to the 6-day event, Standard Chartered stated that, “globalization is encountering a headwind; the international situation faces greater instability and uncertainty, and poses severe challenges for development in all countries. The opening of the CIIE as scheduled will help maintain unimpeded trade and a stable supply chain.”