Chinese President Xi Jinping said on Thursday that efforts should be made to build the China Import and Export Fair into a major platform for the country’s “dual circulation” development paradigm.
President Xi made the remarks in a congratulatory letter to the 130th session of the China Import and Export Fair, also known as the Canton Fair, which kicked off in Guangzhou City, capital of south China’s Guangdong Province.
Since its inception 65 years ago, the Canton Fair has made important contributions to promoting global trade, domestic and international connectivities and economic growth, said Xi.
Noting that the world economy and global trade are facing profound changes as the world copes with changes unseen in a century and with a once-in-a-century pandemic, he said the Canton Fair should be built into an important platform for China’s all-round opening up, promoting the quality development of global trade and connecting China’s domestic circulation with international circulation.
Xi said China stands ready to work with the rest of the world to pursue true multilateralism and advance the building of a higher-level open world economy.
Highlighting the theme of promoting the country’s “dual circulation,” the five-day Canton Fair will have nearly 8,000 global companies participate offline and around 26,000 companies online, according to the organizers.
China’s development paradigm of “dual circulation” allows the domestic and overseas markets to reinforce each other, with the domestic market as the mainstay, according to an outline of the country’s 14th Five-Year Plan (2021-2025).
Chinese officials have on many occasions stressed that “dual circulation” is by no means a closed domestic loop and reaffirmed that opening up is a fundamental national policy of China.
(Cover: The venue of the 130th session of the China Import and Export Fair in Guangzhou City, south China’s Guangdong Province, October 14, 2021. /CFP)