CIIE platform for global businesses to access Chinese market and opportunities: China Daily editorial

The ninth China International Import Expo, which opened in Shanghai on Thursday, is not only a platform to expand imports, but also a demonstration of China's commitment to an open world economy.

This year's CIIE stands as a powerful rebuttal to some Western economies' baseless accusations about China's trade surplus.

Both the scale of the exhibition and the world-class lineup of exhibitors serve as clear proof that the vast opportunities and potential of the Chinese market are recognized by a majority of the world business community.

In his keynote speech at the opening ceremony of CIIE, Chinese Vice-Premier Ding Xuexiang said that China had never deliberately sought a trade surplus, which is mainly due to the country's position in global supply chains and its comparative advantages.

The surplus seems to be in China, but the benefits are shared by all parties. Foreign companies accounted for 27 percent of China's total exports and 16 percent of its trade surplus last year.

The so-called "China Squeeze" or "China Shock" narratives promoted by some institutions and media outlets are fundamentally untenable and rooted in a zero-sum mentality.

As Ding stressed, one of the factors contributing to China's trade surplus that cannot be overlooked is that normal trade in certain high-tech products has been disrupted and restricted. There are many products that China wants to import but cannot buy, or is not allowed to buy.

Some in the West are reluctant to see China gain access to advanced technologies and products, and routinely impose restrictions on China's trade and investment. When Chinese goods win market share through their competitiveness, these Western voices invent pretexts to force a reduction in Chinese exports instead of addressing the shortcomings of their own economies.

Ironically, almost all of these actions and rhetoric are carefully wrapped in the elegant vocabulary of "market rules" or "national security". Yet they resort to unilateral restrictions and protectionist measures that masquerade under the guise of "trade defense". They then smear China's justified reciprocal countermeasures as a "threat".

That's why Ding called for the removal of trade barriers, warning that "overstretching the concept of national security" would only exacerbate "trade imbalances".

It should be seen that despite the West's high-tech export restrictions, China's imports grew by 22.3 percent to 16.74 trillion yuan ($2.51 trillion) in the first three quarters year-on-year, outpacing the 16.4 percent increase in exports during the same period of time.

Notably, among the 4,142 overseas exhibitors from around the world, those from the United States, Germany, France, the United Kingdom and some other developed economies account for the largest exhibition areas. Reportedly, US companies occupy more than 50,000 square meters, retaining the top spot for the eighth consecutive year at the CIIE.

Companies from these advanced economies have therefore made their point through action, sending a clear signal to some politicians back home: China's opportunities are too important to miss, its market is open, its potential is enormous and its efforts to advance trade and economic cooperation are concrete and real.

The strength of Chinese products comes from technological advantages, sustained investment in research and development and the innovation efforts of its enterprises. China's industrial ecosystem has grown by forging ahead against powerful headwinds — a reality that makes its resilience and intrinsic drive all the more stronger.

Over 300 of the companies participating in the CIIE this year are Fortune Global 500 companies and industry leaders. Driven by the inherent efficiency, innovation and competitiveness of China's market and industrial ecosystem, most forward-looking multinationals view the country not just as a marketplace, but also as a gym to hone their edge.

That explains why some foreign companies are shifting production or orders back to China as overseas labor savings fail to offset supply-chain friction. As manufacturing becomes increasingly automated and intelligent, the stability and efficiency of a supply chain now far outweigh the appeal of cheap labor. So China's integrated supply chains are a more reliable and cost-effective choice.

Against that backdrop, the CIIE does not simply encourage foreign companies to sell more to China, it connects international technologies, products and services with Chinese demand, industrial capabilities and innovation. Foreign businesses can gain access to a vast market, while Chinese consumers and enterprises are presented with more choices, technologies and expertise. Both sides stand to benefit.