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CIIE shares development opportunities expands space for cooperation

By Jin Liqun

The second China International Import Expo (CIIE) kicked off in Shanghai on Nov. 5. Chinese President Xi Jinping attended the event and the second Hongqiao International Economic Forum and delivered a keynote speech.

Xi’s second attendance to the opening ceremony of the CIIE fully demonstrates the high importance attached by the Chinese government to the event, the country’s strong determination and consistent position to support multilateralism, as well as the concrete action by China to build an open world economy and a community with a shared future for mankind.

While appreciating Xi’s keynote speech at the second CIIE, the international community believes that the six-day event will achieve huge success.

The Asian Infrastructure Investment Bank (AIIB) has actively participated in the activities of the CIIE, as the institution believes that the CIIE is of great significance and hopes that the important endeavour by China will produce greater spillover effect and boost regional and global economic cooperation.

As China’s major initiative to open its market to the world, the CIIE will facilitate the high-quality development of Chinese economy and help satisfy people’s aspirations for a better life.

The CIIE enables global countries to share the opportunities presented by China’s development and expand space for international cooperation. It is a practical measure of China to make economic globalization more open, inclusive, balanced and beneficial for all, as well as a move of the country to share development results with global countries.

In recent years, international economic and trade cooperation has encountered headwinds. Rising unilateralism and protectionism are leading to more instability and uncertainties, posing severer global challenges for mankind.

Under such circumstances, the CIIE has shown the world that China resolves to shoulder its responsibility to push opening-up at a higher level, advance an open world economy and build a community with a shared future for mankind.

Through practical efforts, the Chinese government has made clear that China’s door will never be closed and will only open wider.

It is hoped that most of the countries around the world, especially major economies, can follow the trend of the times and bring global economic and trade cooperation back on track.

China’s tremendous efforts to promote trade and investment liberalization and facilitation, economic globalization and win-win cooperation are obvious to all.

The country has continuously improved its business environment. According to a recent report by the World Bank entitled “Doing Business 2020: Comparing Business Regulation in 190 Economies”, China’s ease of doing business ranking climbed to 31 this year from 46 the last year. It is one of the 10 most-improved economies for two consecutive years.

The CIIE, an event to be held on an annual basis, will feature good performance, good results and continued success in the years to come, said Xi at the opening ceremony of the first CIIE.

His remarks demonstrate that China intends to take on more responsibilities for promoting common development of all countries and play a better role as a responsible major country with concrete actions.

The AIIB is a new-type multilateral financial institution initiated by China and founded based on joint consultations among members of the international community.

It is universally recognized that the AIIB inherits the international multilateral development system and follows a standard of corporate governance and management that is in line with the level of world-class multilateral institutions.

From the very beginning, the Chinese government has declared that the AIIB must be operated in accordance with the optimal international norms and achieve the best results in terms of such aspects as debt sustainability, environmental protection, and social benefits.

Since it was established in January 2016, the AIIB has made profound progress in areas including system building, recruitment, loan service expansion, fund management enhancement, and corruption prevention.

Besides, the AIIB has conducted close cooperation with the World Bank, Asian Development Bank and other multilateral development banks, and achieved significant results.

With the progressing construction and increasing loan transactions of the institution, the amount of AIIB members has surged to 100 so far.

The institution provides finance for infrastructure construction and helps enhance the connectivity and integrated development of various countries.

Moreover, the AIIB endeavors to tackle climate change and put into practice the Paris Agreement, receiving popular recognition from the international community.

China is the largest shareholder of the AIIB and its openness and confidence will make the world confident. The country is expected to continue making great achievements, driving forward regional and global economic and trade cooperation, and making the world a better place for all the people in the world.

(Jin Liqun is the President of the AIIB.)

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