At the China International Import Expo (CIIE) held on November 5, 2024, Premier Li Qiang emphasized China's commitment to wider market opening and its potential role in stabilizing the global economy. Speaking to over 1,000 officials and executives, Li pledged to increase imports and share opportunities with trading partners, reinforcing China's dedication to fostering international trade relations. This year's CIIE features 3,500 exhibitors from over 150 countries, showcasing a diverse range of goods and services. Last year, the expo saw deals worth US$78.4 billion signed, marking a 6.7% increase from 2022, highlighting the event's importance in global trade dynamics.
Li's address comes in the context of China's ongoing efforts to enhance its economic engagement with the world, following his earlier remarks at the China Development Forum in Beijing. There, he had pledged to increase market access for overseas investors and companies, amidst a backdrop of declining foreign direct investment, which totaled $33 billion in 2023, down 80 percent from the previous year. The forum serves as a platform for global business leaders to discuss economic challenges and opportunities, reflecting China's commitment to international cooperation.
In a separate meeting, Li Qiang met with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), where he reiterated China's target of around 5 percent GDP growth for the year. He expressed optimism about China's economic recovery and its contributions to global economic stability. Georgieva acknowledged China's strong support for the IMF and expressed a desire to deepen cooperation, particularly in light of China's economic transformation.
Additionally, Malaysian Prime Minister Anwar Ibrahim attended the CIIE, calling for fair trade practices among nations, emphasizing the need for equitable trade relations in the context of ASEAN cooperation. The CIIE, held annually since 2018, continues to play a crucial role in showcasing China's trade relations and its commitment to opening its markets further. [ec160ff1] [44743a14] [fa267d7f] [ffd04b37] [526f86e1]