7th China International Import Expo opens in Shanghai

SHANGHAI -- The newest edition of the China International Import Expo (CIIE), the world's first national-level exposition dedicated to imports, opened on Tuesday in Shanghai.

Chinese Premier Li Qiang delivered a keynote speech at the opening ceremony of the 7th CIIE and the Hongqiao International Economic Forum.

China has continued to walk the talk in expanding opening up, said Li, adding that China's overall tariff level has been reduced to 7.3 percent, overshooting its target of 9.8 percent.

Li said the country has fully implemented all the opening-up measures announced at the previous six CIIEs, including scrapping all items in the manufacturing industry on the national negative list for foreign investment.

Li said that China is willing to open up its enormous market further and will continue to expand market access to sectors in an orderly fashion, including telecommunications, the internet, education, culture and healthcare.

The sound fundamentals of the Chinese economy remain unchanged, and the country is capable of promoting sound and steady economic growth, Li said, adding that China is confident in achieving this year's economic and social development goals and the future development of its economy.

Running from Nov 5 to 10, the 7th CIIE has attracted about 3,500 exhibitors from 129 countries and regions. It also sets a new record with 297 Fortune Global 500 companies and industry leaders attending the event.

More than 400 new products, new technologies and new services are set to be unveiled during the expo, which experts believe is a strong indication of global companies' confidence in the Chinese market and their commitment to further development in China despite a sluggish global economic recovery.