CIIE showcases city progress in innovation, opening-up and integration of delta region

2019-11-11
By: freemexy
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A city’s core competency results from development and competition over a long period of time. It is unique and hard to replicate.Besides, a city’s competency hinges upon a combination of factors that often have a definite bearing on optimizing regional resource allocation.The second China International Import Expo will be held at the National Exhibition and Convention Center in Shanghai from November 5 to 10, 2019.For further information about China International Import Expo, please visit: https://www.shine.cn/China-International-Import-Expo/ or https://www.shine.cn/ciie2019/v1.To get more CIIE 2019, you can visit shine news official website.
Against this backdrop, a continued drive to enhance a city’s core competency is a major prerequisite for it to stay influential and allocate global resources in the face of an uncertain external environment. The second China International Import Expo (CIIE), which runs from November 5 to 10, has emerged as an important window on Shanghai’s rising clout and service capabilities.
Through CIIE, the key strengths of Shanghai in areas such as openness, innovation and regional integration will come to the fore, mirroring an alignment between a city’s improved capabilities and China’s new round of opening-up. In the era of globalization, CIIE will demonstrate Shanghai’s role as a key transit hub in global trade. It will also showcase progress made under China’s ongoing new round of opening-up.In terms of trade structure, Shanghai imported goods worth 2.03 trillion yuan (US$290.6 billion) in 2018, up 6.4 percent from 2017. In the same period, its exports totaled 1.36 trillion yuan, an increase of 4.2 percent over the previous year. Rising imports at a faster clip indicate an optimization of Shanghai’s trade structure as well as its growing status as a trade transit hub.CIIE will encourage more multinational firms to set up operations in Shanghai or other onshore markets.
What’s more, this year’s CIIE has added United Nations Development Programme, International Trade Centre and other global organizations to the list of invitees, a move suggesting Shanghai’s deepening ties with multilateral organizations from around the world. Over the past 20 years, Shanghai has mainly played a supportive role in helping domestic industries access the global market. It also provides an avenue for foreign direct investments in China’s export manufacturing sector.CIIE will give an impetus to Shanghai’s presence as the city steps up its efforts to connect domestic industries with the overseas market.
Shanghai used to be a gateway to developed Western economies, but now this role starts shifting toward one that gives equal attention to Western countries, Belt and Road nations and developing economies. In 2017, for example, Shanghai imported 364.9 billion yuan worth of goods from Belt and Road countries, a surge of 25 percent compared with the previous year.This volume topped the imports of the US and ASEAN (Association of Southeast Asian Nations) from Belt and Road countries, which stood at 207.2 billion yuan and 264.2 billion yuan.

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