Zhejiang builds a new bridge for China-CEEC economic and trade cooperation and all-round opening up

The 1st China-CEEC Expo & International Consumer Goods Fair and the 21st China Zhejiang Investment & Trade Symposium, co-sponsored by the Zhejiang Provincial Government and Ministry of Commerce, will be held from June 8 to 12 in Ningbo, east China’s Zhejiang Province. A series of activities will be launched to strengthen economic and trade cooperation between China and CEE countries and promote an all-around opening up of Zhejiang.

Located on the southeast coast of China, Zhejiang is a pioneer of China’s reform and opening up. Since 1978, Zhejiang has seized the opportunity brought by the economic globalization and vigorously developed the private economy, becoming one of China’s most open and developed regions.

As the most important and influential international-facing economic and trade event in Zhejiang, the China-CEEC Investment and Trade Expo has elevated to the national level this year, and is witnessing an upgrade in attending officials, activity content, exhibition scale and exhibitors. More than 20 economic and trade activities including China-CEEC Cooperation Forum, Zhejiang Foreign Investment Enterprises Roundtable, China-CEEC Mayors Forum, China-CEEC Customs Inspection and Quarantine Dialogue and China-CEEC Investment and Cooperation Symposium will take place. There will be various exhibitions including CEEC National Image Exhibition, European Import Commodity Exhibition, International Consumer Goods Exhibition and City and Park Exhibition, covering an area of 110, 000 square meters, with the aim of strengthening economic and trade ties between China and CEE countries and further opening up Zhejiang.

With high level economic and trade events such as G20 Hangzhou Summit and China-CEEC Investment and Trade Expo being organized and measures such as “One Stop Service” reform being implemented, Zhejiang’s opening up level and business environment have been constantly improved in recent years, attracting a large batch of foreign-funded enterprises to land in the province. According to the official data from Zhejiang Provincial Department of Commerce, by the end of March this year, there had been 65,315 foreign-funded companies with a total investment of $704.59 billion.

The rapid development of foreign trade and bilateral investment accelerates the industrial upgrade of Zhejiang, moving towards the high end of the global value chain and creating “Zhejiang Speed”. Statistics show that in the first quarter of this year, the paid-in FDI in advanced manufacturing and service sector was $1.14 billion, an increase of 4.11 percent year-on-year, among which FDI in the high-tech service industry was $927 million, an increase of 27.37 percent year-on-year.

Opening up is the gate to prosperity and development. Zhejiang will continue to open up by implementing the Foreign Investment Law and the negative list system for market access and improving the business environment. It is expected that the province will eventually become a land of high-quality FDI, ODI and talented entrepreneurs. 

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