n November 4, China launched a series of events called “Big Market for All: Export to China” in Shanghai, where the 8th China International Import Expo (CIIE) kicked off the day after. Both events aim to promote imports into China.
These initiatives underscore China’s commitment to wider opening up and sharing its vast market with the rest of the world.
Commerce Minister Wang Wentao described market access as “the most scarce resource” in today’s world and announced that the “Big Market for All” initiative will be carried out annually. It will feature over 100 events each year, with the goal of establishing China as “the best export destination.”
China has ranked as the world’s second-largest import market for 16 consecutive years, with goods and services imports projected to exceed US$15 trillion during the period between 2021-2025.
The 2025 CIIE has gone beyond just being a platform for procurement. Instead, it has focused on reducing institutional transaction costs to promote regional trade, encompassing mutual recognition of standards, certification acceleration and facilitation of cross-border payments. These efforts aim to develop China not just as a market for consumption, but as a platform for inclusion, particularly for developing nations and small-and medium-sized enterprises (SMEs).
For a Southeast Asian SME seeking to enter a developed market, for example, the traditional process of certification and distribution could take years. However, with the CIIE’s integrated mechanisms, the duration of the process can be shortened to within just one year.
In addition, the Chinese market serves both as a laboratory and a battleground for product development. Given the diversity and sheer size of the Chinese market, Chinese consumers can be both demanding and tolerant, value-conscious yet willing to pay for innovation. This is why more and more multinational companies are adopting an “in China, for the world” approach to research and development. They have found that if a product can prove itself in China, it is unlikely to face major hurdles in global markets.
As the world’s second-largest import market, the predictable demand from the Chinese market can help stabilize global supply chains. As a fast-evolving application market for new technologies, it help global tech companies to accelerate technology diffusion and drive down costs. As an open platform for developing economies, it lowers the barriers for more less-developed countries to participate in globalization. These features form the unique value of the Chinese market in today’s global economic landscape.
China will redefine its role in global trade from an export powerhouse to a market that actively absorbs, tests and elevates global products and standards. As China’s middle-income group expands and green and digital consumption gathers pace, there will be more and more opportunities within the Chinese market.
According to the recently released recommendations for formulating the 15th Five-Year Plan (2026-2030), a more balanced development of imports and exports continues to be among China policy priorities. The question is not whether China will open wider, but how effectively it can align higher-level openness with rising demand for quality, transparency and innovation. If China succeeds, its vast domestic market will not only anchor its own development but also serve as a stabilizing force for a world economy navigating deep uncertainty.
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