The opening ceremony of the second CIIE and the Hongqiao International Economic Forum (Photo by Weng Qiyu)

The proposals put forward by Chinese President Xi Jinping to advance economic globalization and expand opening-up have demonstrated China’s determination to bring new growth opportunities to the global economy.

The Chinese civilization has always valued peace under heaven and harmony among nations, Xi said in a keynote speech delivered at the opening ceremony of the second China International Import Expo (CIIE) on November 5 in Shanghai.

Underscoring that economic globalization is an irreversible trend of history, Xi proposed three initiatives to encourage countries from around the world to give more impetus to economic globalization and remove impediments, and announced five measures to bring about opening-up at an even higher level.

With visionary initiatives full of Chinese wisdom and pragmatic measures, China has made clear to the world that the country is committed to deepening opening-up, confident about bringing new growth opportunities for the global economy, and shoulders its responsibility to contribute to an open global economy and a community with a shared future for mankind.

The CIIE is the world's first import expo held at the national level. It is a proactive policy of China to pursue a new round of high-level opening-up, advance Belt and Road international cooperation and build an open world economy with the rest of the world.

The China Pavilion at the second CIIE (Photo by Wu Sijie)

The second CIIE is larger in scale compared with the first one held last November. A total of 155 countries and regions as well as 26 international organizations have participated in the event.

The exhibition area covers around 360,000 square meters. Sixty-four countries have hosted country exhibitions and 3,893 companies present at the business exhibitions.

In a short time, the CIIE started from scratch and quickly attracted wide participation of countries and enterprises from all over the world, said Xi when he hosted a banquet on November 4 evening in Shanghai to welcome distinguished guests from around the world, who are here to attend the second CIIE.

He noted that the expo has become a major initiative in the history of global trade and an important platform for international cooperation in the new era.

In his keynote speech at this year's expo, Xi reviewed the initiatives of further opening-up China has taken since the first CIIE, demonstrating that China is a country that keeps its promises.

The country has resolutely supported trade liberalization and economic globalization and will open its door only wider to the world.

Economic globalization, as an irreversible trend of history, has greatly boosted global growth. While protectionism and unilateralism are surging and economic globalization has encountered headwinds, Xi stressed that economic globalization is like the world's great rivers and nothing can stop their mighty movement.

Xi noted that of the problems confronting the world economy, none can be resolved by a single country alone, suggesting that countries put the common good of humanity first rather than place one’s own interest above the common interest of all.

The Chinese President called on countries to work together to build an open world economy through cooperation, with innovation and for mutual benefits.

He expressed hope that all countries could have a more open mindset and take more open steps, and work together to make the pie of the global market even bigger. Meanwhile, he suggested that countries should strengthen the mechanisms for sharing benefits globally, and explore new ways of international cooperation.

The goal is to give more impetus to economic globalization and remove impediments as much as possible and make economic globalization more open, inclusive, balanced, and beneficial to all, as he pointed out.

This year marks the 70th anniversary of the founding of the People's Republic of China. For the past 70 years, the Communist Party of China (CPC) has led the people to create a miracle of rapid economic development and a miracle of long-term stability. The Chinese nation has achieved a tremendous transformation—it has stood up, grown rich, and become strong.

China's development, viewed through the lens of history, is an integral part of the lofty cause of human progress.

Audience at a sub-forum of the second Hongqiao International Economic Forum (Ji Peijuan/People’s Daily)

As the Chinese President announced, China will continue to open up its market, optimize its opening-up structure, improve the business environment, deepen multilateral and bilateral cooperation and advance Belt and Road cooperation.

The purpose is to stay committed to opening-up to promote reform, development and innovation, and offer countries in the world more opportunities of market, investment and growth and achieve development for all.

Xi expressed his faith in the bright prospects of China's economic development, adding that the country will adhere to its fundamental state policy of opening-up and move economic globalization forward together with other countries.

Standing at a new historical starting point, China will reach out its arms to help countries in the world to seize opportunities presented by China's development in the new era and welcome them aboard the express train of China's development.

As long as various countries work hand in hand along with the development trends of the times, they can promote the vibrant development of the world economy.