CIIE showcases city progress in innovation

Posted by freemexy on November 15th, 2019

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: get more China International Import Expo, 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 (US0.6 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.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.

China’s new round of opening-up is driven in part by manufacturing and in part by consumption. From chasing high-quality growth to leading a quality life, the change in slogans reflects the gargantuan scale of China’s consumption market.The country is already home to a vast number of upper-middle-class consumers with strong buying power. CIIE thus will deliver more opportunities to countries that choose to exhibit their products at the fair.

Mexico, for one, is keen to know whether Chinese consumers have an appetite for the country’s Tequila spirits and avocados. Developments in China’s healthcare, education and beauty care sectors have presented global enterprises with immense opportunities.Leading pharmaceutical firms like Pfizer, Roche, MSD, Johnson & Johnson and Eli Lilly and Company registered for CIIE long ago and even planned to launch some of their new medicine and medical devices that had secured or were awaiting approval from local FDA authorities in China. Similar examples abound.

In the past, Shanghai was more fixated on economic openness. But since the introduction of “Shanghai 2035,” a plan for building itself into an “excellent global city” by 2035, the city has been placing a premium on innovation and exchange of ideas. Global cities are the result of globalization.

Like it? Share it!


About the Author

Joined: December 6th, 2018
Articles Posted: 2,579

More by this author