The China International Import Expo (CIIE), the world’s first national exhibition themed with import, is a great innovation in the history of international trade.

In addition to more than 3,000 overseas exhibitors, the grand event also attracts hundreds of thousands of buyers, many of whom are from Chinese private companies. Taking purchasing lists, letters of intent and even study notes, they are both seeking business opportunities and exploring ways of transformation and upgrading.

Wang Xiaowei, purchasing manager of Baiyue Dairy Group from western China’s Shaanxi province, has just signed a deal with a supplier. According to him, the company has signed purchasing agreements totaling 140 million yuan ($20.2 million) with world-class equipment suppliers from Germany, Sweden and Switzerland.

Wang said he was warmed and motivated by Chinese President Xi Jinping who highly praised the contribution made by private enterprises at a symposium a few days ago.

“This time, Xi’s remarks that ‘economic globalization, as an irreversible trend of history, has greatly boosted global growth’ has pointed out the direction for the internalization of private enterprises,” Wang said.

At the CIIE, private enterprises can be seen everywhere, trying samples, inquiring technologies and negotiating partnerships.

A surgery robot is on display at Hall 7.1 of the CIIE. The high-precision robot has performed over 100,000 operations in China. It can easily cut a thin stamen without touching the others. Photo by Xiao Yi from China Economic Weekly

“China’s initiative to expand imports is not a choice of expediency. It is a future-oriented step taken to embrace the world and promote common development,” Xi said in his keynote speech delivered at the opening ceremony of the CIIE.

“President Xi envisioned us the prosperity of cross-border e-commerce, and we should introduce more high-quality products to the Chinese market from overseas,” said Zeng Xiulian, a partner of Xiaohongshu, a popular Chinese social media and e-commerce platform.

The recent symposium on private enterprises presided by Xi assured China’s non-public sector, and the CIIE would become a big stage for private companies, Zeng told People’s Daily.

“The CIIE means treasure, and it has opened a new window for enterprises in central and western China,” said Li Xingqian, a deputy from Sichuan trade delegation. Every company has the access to world-class enterprises, products and services at the event, and every one shares the same opportunities, he added.

While some private companies are seeking cooperation, many others are learning from world-leading enterprises. The CIIE is a place where they can learn how to stimulate market potential, break financing bottleneck, and realize transformation and upgrading.

Imported children’s medicines are very popular in China, such as the cooling relieves from Japan and the fruit-flavored oral liquids from the US. Tong Feng, manager of R&D department of the Beijing-based drugmaker Chengji Pharma said that the company wanted to learn the latest technologies about children’s dosage forms so as to improve domestic medicine production.

“China is one of the world’s most important increasing markets. The warm response to the CIIE indicates global confidence in the Chinese market,” said Zhang Lei, CEO of NetEase Kaola, a cross-border import retail e-commerce platform.

“We will accelerate the introduction of more fine products to China from overseas, so as to meet the ever-growing demands of the people for a better life,” she added.