CIIE Expands Frontiers of Economic Development During Pandemic, Russian Expert Says

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Night illumination of the National Exhibition and Convention Center in Shanghai, November 2, 2021 (Photo: China News Service / Yin Liqin)

The China International Import Expo (CIIE) is pushing the boundaries of economic development amid the ongoing COVID-19 pandemic and a stagnant global economy, a Russian expert said ahead of the 4th CIIE scheduled for Nov. 5-10 in Shanghai.

“This exhibition is an important event for the economies of both developed and developing countries, said Rosalia Varfalovskaya, a leading researcher at the Center for Chinese Economics and Social Studies at the Institute of Far Eastern Studies. the Russian Academy of Sciences, in a recent interview.

“China has entered a new phase of development, with an increasing need for imported and domestic products for the development of a strong domestic market,” she said, adding that the exhibition could also be a platform. effective form for concluding new trade agreements within the framework of the Belt and Road initiative.

Since its creation three years ago, the CIIE has become a large-scale platform for making international purchases, promoting investments and developing humanitarian contacts based on open cooperation, according to the expert.

Foreign participants can take the opportunity to fully present their country’s trade and investment potential, achievements in industrial development, tourism and current medical equipment, which, according to Varfalovskaya, can be beneficial to China and other countries as they address the challenges posed by the pandemic.

Regarding Russia’s participation in CIIE, the expert said that more than 30 Russian companies will participate in the event and exhibit their food, agricultural and automotive products.

Varfalovskaya said the exhibition presents great opportunities for Russian exporters in fields such as electromechanical products, scientific and technological innovations, e-commerce and biomedicine.

“The CIIE is an additional resource to accelerate economic growth and foreign trade for Russia and China, and aims to improve the structure of mutual trade,” she said.




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