The first China International Import Expo opened on May 5. It is the first largest import exposition in the world. It not only deals in goods and services, but also exhibits the investment environment of participating countries. It has also become another grand event of home diplomacy in China due to the presence of many heads of state. The idea of hosting the Expo was in May last year, so it is not a measure to deal with the trade war, but a strategy to show China's image of further reform and opening up to the outside world, which will change the pattern of world trade. Whether the location of the Expo in Shanghai means the shift of the focus of China's economic development in the future is also worth discussing.
This year marks the 40th anniversary of China's reform and opening-up. How to deepen reform and opening-up depends not only on oral commitments but also on practical actions. According to the figures of the total import and export trade, last year's export was 15.33 trillion yuan, while the import was 12.46 trillion yuan, the export surplus was still greater than that of import and the surplus was nearly 3 trillion yuan, but the export increased. It is 10.8% long, 20.9% increase in imports and 14.2% narrowing of the surplus. According to this trend, China may someday achieve a balance between imports and exports, even if imports exceed exports. It will become a reality for China to declare that it is not pursuing trade surplus to earn foreign exchange.
Over the past 40 years, China has relied on exports of low-grade products and natural resources to transform into imports of semi-manufactured science and technology products for assembly and processing, and then exports large-scale science and technology products for gradual transformation. Exports have accumulated experience in foreign trade, which has improved product quality and management level. At the same time, they have earned foreign exchange capital for the country and become the world's largest foreign exchange reserve country. The country, enterprises and the people have spare money, which has resulted in the rapid expansion of the market. Now the Chinese market has reached "too big to fail". It is time for us to change from the simple "sell and sell" to "buy and buy" while exporting, and the emergence of import fairs has emerged as the times require.
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