Promotional events held in Shenyang ahead of forthcoming CIIE

Import fair aims to facilitate business, localization in Liaoning and the Chinese market

The second session of the fourth China International Import Expo investment promotion and matchmaking series of events kicked off in Shenyang, Northeast China's Liaoning province on Friday, where positive feedback was given by various attendees, both in regard to the upcoming CIIE and Liaoning's business-friendly environment.

Themed "Quality Foreign Investment to Boost Dual Circulation", the event was hosted in response to the Ministry of Commerce's pledge to better serve the fourth CIIE's exhibitors and boost Liaoning's development.

Held under the platform of the CIIE, the event's organizers anticipated that it would maintain the good momentum of the first session that concluded in Sichuan province and facilitated free trade among all the participants in accordance with a market-oriented trading criteria.

Officials from the Ministry of Commerce, the Liaoning provincial government and Bank of China, as well as business insiders spoke at the event. Representatives from more than 190 foreign-funded enterprises and investment promotion institutions attended the event, including some 80 from Fortune Global 500 companies.

From intelligent manufacturing, digital economy, biomedicine, fine chemicals to automobiles and parts to high-end consumer goods, the event highlighted Liaoning's industrial development in recent years through all-category exhibits. Time-honored brands in the province were also exhibited at the event's key areas.

The event was also supplemented by a series of activities both online and offline, such as conferences among ministerial and provincial leaders and foreign representatives, promotional meetings, matchmaking meetings and on-site investigations.

Liaoning has embarked on a new journey in the development of its economy, which has a broader stage and brighter prospects, Liu Ning, governor of Liaoning province, said at the event.

The CIIE is the world's first national-level import exhibition. The Liaoning provincial government will use the expo as a significant window to promote high-level opening-up to the outside world and to introduce worldwide high-quality products and services, Liu said.

"We sincerely welcome the entrepreneurs to take a look at Liaoning, expand their business in Liaoning and strengthen exchange and cooperation with us in fields such as trade, investment, scientific and technological innovation, intelligent manufacturing, digital economy, low-carbon economy, tourism and health care," Liu said.

Wang Bingnan, vice-minister of commerce, spoke about Liaoning's role in boosting higher-level opening-up in Northeast China. Liaoning, known as the "eldest son of the People's Republic of China", has a glorious history. In recent years, it has stood at the frontier of accelerating the conversion of new and old kinetic energy in Northeast China, Wang said.

The event functioned as a good matchmaker to help Liaoning reach out for more investment and facilitate the enterprises to dig out the potential wealth in its burgeoning market.

Wang also noted some major points to serve dual circulation in a bid to realize high-quality development and cooperation among worldwide services providers in domestic market.

A domestic market featuring high-quality consumers with strong purchasing capacity, integration of online and offline consumption channels and a complete mechanism for better sharing should be built up, Wang said.

Digital tools should be further integrated into market operation and international cooperation, he said, adding a sustainable market composed of green consumption and trade guidelines, should be furthered promoted.

Liaoning province lies in a belt area at around 40 degrees north latitude. It once made a large contribution to the development of the nation after the setting up of the New China in 1949, which is the reason it's called the "eldest son of the Republic of China".

Liaoning is also a logistics hub in Northeast Asia. Due to the establishment of the China (Liaoning) Pilot Free Trade Zone, which has three areas in Shenyang, Dalian and Yingkou, a large number of foreign trade businesses have been established in the region.

The Dayaowan container terminal, one of the ports located at Dalian Port, transports 90 percent of all containers involved in foreign trade business in the three provinces of Northeast China. It has established business routes with 300 ports in around 160 countries and regions, said Guan Jian, an official from the Dalian area of the Liaoning FTZ.

Muratova Aleksandra, a media manager from the Russian Import Pavilion－a nonprofit organization under the umbrella of Russian Ministry of Agriculture－came from Shanghai to participate in the event to promote agricultural and food products imported from Russia through the CIIE platform.

Russian agricultural products have advantages of being a low price compared with those imported from European countries and other regions thanks to the low cost in logistics.

Chinese customers located in the south are different from those in the north.

They have different appetites and requirements for food products. Northern customers are more likely to enjoy the Russian flavor because of the geographical proximity, she said.

The opening of the fourth CIIE is scheduled for Nov 5. Compared with the previous sessions, the fourth one has expanded its business exhibition area to 360,000 square meters and more exhibitors have been confirmed to attend this year's session.

According to the CIIE organizers, a total of 319 projects were initiated at the first and second expo, attracting foreign investment worth $15 billion in total. Many of them have already been implemented and are now in operation.