China has called for a more balanced global trading system anchored on shared prosperity, expanded market access, investment cooperation and innovation.

Chinese Vice-Premier Ding Xuexiang made the call on Thursday at the opening ceremony of the Ninth China International Import Expo (CIIE) in Shanghai, themed ‘New Era, Shared Future’.

Inaugurated in 2018, the CIIE is the world’s first national-level import-themed expo, held annually in Shanghai, with Country Exhibition, Enterprise and Business Exhibition, among others, as key components.

Mr Ding said achieving sustainable trade balance would require countries to expand common economic opportunities rather than pursue protectionism, unilateralism and restrictive trade policies.

He advocated growing the global economic pie through “open markets, deeper integration of industrial chains, technological innovation and stronger international dialogue”.

According to him, China’s “commitment to expanding imports and opening its enormous consumer market demonstrates its determination to promote inclusive economic globalisation”.

Mr Ding said China’s imports increased by 22.3 per cent in the first three quarters of 2026, nearly six percentage points above export growth.

He said China’s import goods volume had ranked second globally for 17 consecutive years, making it a major export destination for nearly 80 countries.

The vice-premier said China’s average tariff level had plummeted to 7.3 per cent, while a zero-tariff policy was adopted for eligible African countries.

Participants at the opening ceremony of the ninth edition of CIIE in Shanghai on Thursday.

He also highlighted the complete removal of foreign investment access restrictions in manufacturing, alongside expanded openness in services trade and cross-border data flows.

Austrian Chancellor Christian Stöcker, addressing the Expo, called for stronger China-Europe economic engagement, fair competition and mutually beneficial partnerships.

Mr Stöcker disclosed that more than 650 Austrian companies operated successfully in China, describing the country as Austria’s most important Asian trading partner.

He said economic openness remained fundamental to prosperity, stressing that differences should be addressed through constructive dialogue rather than allowed to undermine international relationships.

Gabonese President Brice Nguema used the occasion to invite Chinese investors to explore opportunities in his country’s industrialisation and economic diversification drive.

He particularly highlighted opportunities in timber, manganese, iron ore, agriculture, energy, digital infrastructure, renewable energy and local pharmaceutical production.

Mr Nguema said Gabon was prioritising domestic processing of raw materials to strengthen local value chains, create employment and accelerate economic transformation.

He also identified the country’s Enghok Special Economic Zone, investment incentives, political stability and strategic Atlantic coastline as attractions for international businesses.

UNDP administrator Alexander De Croo, however, stressed that trade success should be measured beyond commercial volumes, particularly by its impact on jobs, poverty reduction and sustainability.

He said market access alone was insufficient without productive capacity, domestic industrial development, skills acquisition and technology transfer to enable developing countries to compete effectively.

Mr De Croo warned that approximately 1.2 billion young people would enter the global labour market within 15 years, demanding genuine employment opportunities and economic security.

He urged governments and businesses to ensure that trade generated decent livelihoods, empowered women and girls, reduced greenhouse-gas emissions and created meaningful opportunities for younger generations.

The four world leaders all underscored the shared imperative of transforming international trade into an instrument of inclusive development, industrial advancement and shared prosperity.

The trade fair, which will run from November 5 to 10, attracted participants from 162 countries, regions and international organisations.

With a total exhibition area of 440,00 meter square metres, the expo has more than 4,142 overseas exhibitors, 480 debut products and tech companies, 300 Fortune Global leaders, and 500 industry captains.

Shanghai’s choice for hosting CIIE is strategic due to its being China’s economic powerhouse, with a 5.67 trillion yuan (850.1 billion dollars) GDP due to its past and present trade, industry, finance, shipping, and technology roles.

(NAN)