Emphasizing China’s commitment to help boost the global economy, Chinese Premier Li Qiang on Tuesday pledged to further open the country’s vast market and expand access in sectors such as telecommunications, the internet, education, culture, and health care.

“China’s economic fundamentals remain unchanged, and are on track to achieve this year’s economic and social development goals and sustain steady growth,” Li said in his keynote speech at the opening of the China International Import Expo (CIIE) in Shanghai.

He added that China stands ready to deploy further stimulus if needed, just weeks after Beijing introduced new monetary measures and property sector support to stabilize its economy.

The Premier also highlighted the CIIE as a platform to foster global trade and partnerships. Launched in 2018, the annual event draws thousands of international companies, underscoring China’s dedication to open markets and cross-border collaboration.

According to China’s state news agency Xinhua, Li stated that all the opening-up measures announced at the previous six CIIEs have been fully implemented, including the removal of all restrictions on foreign investment in the manufacturing industry from the national negative list.

This year, 3,496 company representatives from 152 countries, regions, and international organizations will attend the Shanghai expo, Assistant Minister of Commerce Tang Wenhong said last week, with both figures up from the previous year.

Among this year’s participants are 297 Fortune Global 500 companies and industry leaders — a record high — with 186 companies and organizations having attended all seven editions of the event.

In an exhibition space exceeding 420,000 square meters, companies will showcase products and services across sectors such as agriculture, automobiles, artificial intelligence, health care, and consumer goods.

Tang added that 39 government procurement delegations and four industry-specific delegations, comprising a total of 780 sub-delegations, will attend the expo to make purchases — the highest number in the event’s history.

Running from Nov. 5 to Nov. 10, this edition will also debut a “new materials” area to promote “quality productive forces” — a concept of high-tech, efficient, and high-quality innovations first introduced by President Xi Jinping in 2023.

According to Tang, the new materials area will “cover high-value-added products such as electronic materials, biological materials, and specialty materials positioned at the upstream of the global high-end manufacturing industry chain.”

Since its inception, CIIE has introduced more than 2,500 new products and services, generating deals valued at over $420 billion.

This year’s expo also builds on initiatives announced at a China-Africa cooperation summit held in early September, by expanding its showcase for African products and offering additional support for 37 least-developed countries, said Tang.

The area will feature specialty agricultural products from Africa, including shea butter, coffee, sesame, peanuts, and soybeans, facilitating partnerships between African exhibitors and Chinese buyers.

(Header image: Outside the China International Import Expo in Shanghai, Nov. 5, 2024. Wu Huiyuan/Sixth Tone)