Vast Chinese market attracts more than 3,600 companies to CIIE

Reuters – The vast Chinese market has attracted more than 3,600 companies to the ongoing China International Import Expo (CIIE) in Shanghai.

As the world’s second-largest economy aims to open its market wider to the world, many view the expo, held for the first time by China, as a great access to local consumers. A total of 172 countries, regions and international organizations are participating in the event, and more than 3,600 companies are exhibiting their products, with the total booth area reaching 300,000 square meters.

The CIIE has received companies from all the G20 member states, as well as more than 1,000 firms from over 50 countries and regions along the Belt and Road. The expo provides two standard booths free of charge for less developed countries. And 35 of the 44 least developed countries in the world are attending the event.

The inaugural expo is seeing the participation of nearly 700 European companies, more than 400 Japanese ones, around 200 enterprises from South Korea as well as about 180 U.S. companies. Among them are more than 200 businesses on the Fortune Global 500 list.

In the meantime, more than 170 African exhibitors have brought nearly 400 competitive products. More than 100,000 Chinese enterprises are seeking global partners at the first CIIE, which opened on Monday and will run through until Saturday. With strong confidence in the Chinese market, around 1,000 companies have applied for participation in the second CIIE next year, and 20 have signed contracts.

Courtesy: News 1st