On the afternoon of November 5, as Shanghai PuHui Aircraft Engine Maintenance Co., Ltd. signed an on-site procurement order exceeding $100 million with Voya Asia Pacific High Dividend Equity Income Fund (IAE) for aircraft engine components, the "first-day first-deal" of the 8th China International Import Expo (CIIE) was successfully secured—a testament to the expo's remarkable efficiency.
As the world's first national-level expo themed on imports, the CIIE serves as a grand stage to observe China's high-level openness and an immersive experience zone to witness the advantages of its massive market.
Eight editions of the CIIE have demonstrated that China's vast market is translating into tangible global opportunities. This year, 290 Fortune 500 and industry-leading companies participated, with many niche-sector leaders making their debut. U.S. firms maintained the largest exhibition area for the seventh consecutive year, while exhibitors from Belt and Road partner countries and least-developed countries increased by 23.1% and 23.5% year-on-year, respectively—highlighting China's growing appeal in global collaboration.
The CIIE's sustained success is underpinned by China's ultra-large market. With over 1.4 billion people, China has remained the world's second-largest consumer goods market and the largest e-commerce retail market for over a decade. By 2024, sectors like automobiles, smartphones, home appliances, and agricultural products are projected to become the world's largest markets. The expansion of the middle-income group to over 800 million will further unleash the potential of this vast market.
New demand drives new supply, and new supply fosters new demand, creating synergy between global innovation and China's massive market. Data shows that the first seven CIIEs generated cumulative intended transactions exceeding $500 billion, attracting 23,000 overseas exhibitors. This year, a record number of exhibitors showcased 461 new products, technologies, and services, broadening the path of opportunity through innovation.
A vast market fuels vibrant dynamism. By advancing reforms, expanding openness, and developing new productive forces, China has become a prime testing ground for global enterprises, accelerating the transition of innovations from labs to markets. Exhibitors noted that the diverse application scenarios offered by China's market enable faster adoption of new technologies, business models, and formats, benefiting broader populations.
With a more expansive horizon, opportunities surge like tides. China's 15th Five-Year Plan proposals aim to raise per capita GDP to the level of moderately developed economies by 2035, significantly boost household consumption rates, and enhance inclusive policies targeting end consumers. Foreign exhibitors praised these measures, emphasizing China's commitment to stimulating domestic demand and fostering sustainable growth to meet rising aspirations for a better life.
Whether first-time, returning, or regular participants, exhibitors share a consensus: partnering with China means embracing opportunity; believing in China means trusting tomorrow; investing in China means securing the future. As China steadfastly pursues high-level openness, its vast market will continue to offer new opportunities for global enterprises and inject fresh vitality into the world economy.