Praise Flows for the Spirit of Openness

President Xi Jinping delivers a keynote speech via video at the opening ceremony of the fourth China International Import Expo and the Hongqiao International Economic Forum on Thursday, Nov 4, 2021. [Photo/Xinhua]

Xi's remarks at CIIE championing global engagement resonate far and wide

President Xi Jinping's remarks at the opening of the fourth China International Import Expo, or CIIE, on Thursday come as yet another sign of the country's openness to engage with the world and pursue true multilateralism for the common good, observers said.

They were also encouraged by the depth of China's commitment to help developing countries and the president's reassurance on China's role as a reliable trade partner. Xi's comments at the trade event gave hope to people around the world as pandemic-battered economies move toward recovery.

Muhammad Faisal, a research fellow at the China-Pakistan Study Centre at the Institute of Strategic Studies Islamabad, said Xi's speech came at an important time, as 2021 marks the 20th anniversary of China's joining the World Trade Organization.

"The key message of President Xi's important speech was that China aims to be the market for the world and it remains open to engage with the world," he said. "The fourth CIIE highlights the fact that the Chinese market remains full of potential for those wishing to do business with Chinese companies."

The president, in his speech, noted that the world "is experiencing the combined impacts of major changes and a pandemic both unseen in a century".

"Unilateralism and protectionism are on the rise, and economic globalization is facing headwinds," Xi said.

"We must stay on top of the prevailing trend of economic globalization, and support countries around the world in opening up wider while rejecting unilateralism and protectionism. This is significantly important if we are to take humanity to a better future."

For a country like Pakistan, these words are encouraging, and the CIIE serves as an important platform to connect with Chinese businesses.

"President Xi also acknowledged the importance of engaging with developing countries to promote South-South cooperation," Faisal said.

He also noted China's desire to promote high-quality development for the Belt and Road Initiative, which he says Pakistani companies can link with to meet their needs as part of the China-Pakistan Economic Corridor, a flagship project of the initiative.

Dennis Munene, executive director of the China-Africa Center at the Africa Policy Institute, said that China, which managed to grow its economy in 2020 thanks to its effective response to the pandemic, has seen its image rise overseas.

More and more countries are embracing the spirit of building a community with a shared future for mankind, as evidenced by the increased number of exhibitors at the expo in Shanghai, Munene said.

This year's expo, which ends on Nov 10, has drawn about 3,000 exhibitors from 127 countries and regions.

Furkan Halit Yolcu, a research assistant at Sakarya University-Middle East Institute in Turkey, said Xi gave a reassuring speech, with the academic saying China has been "a reliable and accountable country for international trade".

In his speech, Xi reiterated that China is a firm believer in backing its words with actions, outlining the progress the country has made since the third CIIE. These achievements include the introduction of the cross-border trade in services at the Hainan Free Trade Port, reform and innovation for pilot free trade zones, and the continued expansion of access for foreign investors.

The president referred to China's opening-up several times with an assuring tone of leadership, Yolcu said. "The Chinese welcoming of the new international partnerships was a certain point that he wanted to make as he invited international companies to invest in China for business," said Yolcu.

Kamaruzaman Bin Yusoff, a Middle East political analyst and former professor of Middle Eastern politics at the Universiti Teknologi Malaysia in Johor, said Xi's speech "shows how China is really serious about helping others, especially developing countries, to flourish and keep up with global challenges".

Xi also pledged that China will take an active role in negotiations on issues covering the digital economy, trade and the environment, industrial subsidies and state-owned enterprises, among others, as the main channel for international rules-setting to safeguard the stability of global industrial supply chains.

'Lead the change'

Yolcu noted Xi's mention of the Digital Economy Partnership Agreement, established between New Zealand, Chile and Singapore. The academic said the agreement which China is seeking to join is important as it shows that China "is ready to lead the change in the ways that international trade is conducted".

"As the current system is fueling the already-developed markets while exploiting the underdeveloped ones, the digital economy initiative is regarded as a remedy for reducing the loss of profit for the less developed parties that occurs in the international transfer of goods," said Yolcu.

He said the president sought to reach an international audience with a firm stance in support of global cooperation.

Yusoff added: "Western powers must accept the good intentions of China to work hand-in-hand to keep the world safe and achieve sustainable development."

Liu Hongjie in Beijing contributed to the story.