THE inaugural China International Import Expo (CIIE) will kick off today in Shanghai, drawing more than 1,000 firms from 58 countries along the Belt and Road (B&R) to attend. The CIIE runs from today to Saturday.

President Xi Jinping today will deliver a speech at the opening ceremony of the CIIE, signifying China’s readiness to further open its market to foreign investors.

The CIIE, the world’s first import-themed national-level expo, was proposed and announced by Xi himself, and will feature exhibitions of countries and businesses and the Hongqiao International Economic and Trade Forum.

The Hongqiao International Economic and Trade Forum, with a theme of “spurring new vitality of global trade, creating an open and win-win scenario,” will be attended by over 2,000 government officials, international organization leaders, renowned entrepreneurs and academics from over 130 countries and regions.

The Ministry of Commerce on Saturday said at a CIIE press conference that the number of companies from Belt and Road countries accounts for nearly one third of all firms attending the expo.

They are expected to display a variety of products from agricultural products to consumer goods and garments in a booth area of 45,000 square meters, it said.

Vice Minister of Commerce Wang Bingnan said the expo will become another important prop for the joint construction of the Belt the Road Initiative, offering new opportunities for foreign countries to expand exports to China.

The expo will also feature products from over 30 least developed countries (LDCs), including Ethiopia’s coffee, handicrafts from South Sudan and Tanzanite from Tanzania, said Sun Chenghai, deputy director of the CIIE Bureau.

Sun said they will offer two free exhibition booths to each participating LDC to support their entry into the Chinese market.

A total of 82 countries and three international organizations will showcase their achievements in economic and trade development as well as competitive products at 71 booths which cover an area of about 30,000 square meters.

For the exhibition of businesses, more than 3,000 companies from over 130 countries have confirmed participation in the expo, which has a total booth area of 270,000 square meters. (Xinhua)