CIIE to bolster China's opening-up credentials

Senior corporate executives expressed confidence that the third China International Import Expo, which kicked off in Shanghai with its opening ceremony on Wednesday, is a major step by China to further open its market and bolster people's confidence amid the COVID-19 pandemic.

Kamran Vossoughi, president and CEO of Michelin in China, said at the end of January, when the outbreak was severe, the tire major had decided to participate in the CIIE without any hesitation.

"The pandemic has a big impact on the economy of China and the world. A platform like the CIIE is important in helping the economic recovery and in restoring people's confidence," Vossoughi said.

According to him, Michelin will demonstrate its rich offerings beyond tires at the CIIE and will scout for new business opportunities and potential partners.

Similar sentiments were expressed by executives of Otis, a US manufacturer of elevators and escalators, which is participating in the CIIE for the first time this year.