Global businesses gather at Silk Road Expo for investment and trade opportunities

The ongoing 7th Silk Road International Exposition in Xi'an, Shaanxi province expects to boost global trade and investment.

The event kicked off on Nov 16 and lasts for five days.

"I have participated in the Silk Road Expo for seven consecutive times. It provides a chance for businesses worldwide to communicate and showcase their offerings," said Ayumi Kusaba from the Beijing Representative Office of the Japan External Trade Organization.

With foreign companies coming in, domestic enterprises are also going out. Yan Yongjun, chairman of Top International Engineering Corporation, said they have established local operations in 32 countries, working to increase cooperation with regions involved in the Belt and Road Initiative.

The Silk Road Expo has held six sessions, driving the development of the domestic and international economy. The cumulative total of signed foreign investment contracts is $45.367 billion, and the total investment of domestic joint projects exceeds 8 trillion yuan ($1.1 trillion).

On top of its economic contribution, the Silk Road Expo has brought about cultural exchange and tourism development. Shaanxi Tourism Group has built the first Silk Road Cultural Park in Xi'an, allowing visitors to "travel around the world without leaving the province." In less than half a year, the number of tourist visits exceeded 700,000.

Yang Zishuo contributed to this story.