SHENZHEN, Dec. 26 (Xinhua) -- The southern Chinese metropolis of Shenzhen has recently hosted a series of exhibitions, attracting numerous overseas executives eager to explore opportunities and expand investments in China's vast market.

The 2024 Shenzhen Global Investment Promotion Conference, held in early December, drew representatives from over 700 companies and institutions across 33 countries and regions, including more than 200 Fortune Global 500 companies.

Over 400 projects were signed at the conference, with a total investment exceeding 900 billion yuan (about 125.18 billion U.S. dollars). Featuring companies like Rockwell Automation, Knorr-Bremse and Dassault Systemes, these projects span key sectors such as low-altitude economy, intelligent connected vehicles and biomedicine.

The success of the conference highlighted Shenzhen's efforts to attract foreign investment and businesses. In 2024, 15 foreign heads of state and government leaders visited Shenzhen, nearly double the number from the previous year.

Exhibitions have become a key channel and driving force for China's market opening, boosting global confidence and invigorating the world economy.

The 7th China International Import Expo (CIIE) held in Shanghai in November attracted nearly 3,500 exhibitors and 800 procurement groups, recording 80.01 billion U.S. dollars in intended transactions, up 2 percent from the previous year.

In the same month, the second China International Supply Chain Expo (CISCE) held in Beijing saw the participation of more than 600 companies, up approximately 20 percent from the first edition of CISCE in 2023. The share of overseas exhibitors rose from 26 percent to 32 percent of the total, with participants from nearly 70 countries and regions. U.S. companies took the lead in participation, while involvement from Europe and Japan also saw notable growth.

Similarly, the China International Travel Mart 2024 held in Shanghai welcomed over 1,000 international exhibitors and 600 overseas travel agents from more than 80 countries, hosting over 600 business matchmaking sessions.

Analysts have highlighted China's crucial role in the global supply chain. Shenzhen, for instance, has developed a comprehensive automotive supply chain, covering vehicles, batteries, motors, autonomous driving and smart cabins.

"I am so proud that Apple has an exhibit here with our partners. We could not do what we do without them," said Apple CEO Tim Cook while visiting Apple's booth at the CISCE.

Pharmaceutical giants like Eli Lilly, Pfizer and Bayer have also established new R&D and innovation centers in Beijing, marking key milestones in their business expansion in China.

This year, China has actively built platforms for international exchange and cooperation, demonstrating its commitment to openness through policies designed to streamline these efforts. Notable initiatives include the use of facial recognition for faster customs clearance, relaxed restrictions on foreign investments, enhanced cross-border payment systems, and extended visa-free stays for eligible foreign travelers.

"China's vast market remains essential for global businesses and will continue to strengthen its attractiveness to international investors," said Cao Zhongxiong, director of the Department of Digital Strategy and Economics at China Development Institute. Enditem

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