New Era for Imports

Over the years, exports have significantly driven up China’s economic growth. But before China became the biggest global export economy, imports of advanced technology and management from developed countries played a crucial role in helping the country upgrade its manufacturing sector. According to the World Bank, China’s total imports in 2016 accounted for 9.7 percent of global imports, up from 8.4 percent in 2011. In November 2018, the China International Import Expo, an important platform for promoting trade relations between China and the rest of the world, debuted in Shanghai, reflecting China’s determination to open itself further to the outside world and its endeavors to achieve common prosperity amid the global rise of trade protectionism.