JETRO Shanghai Director: Hongqiao Development Zone’s Japanese pull

Despite the changes, Michiaki observed that there are still some things unchanged during the past years: the energetic Chinese people; the delicious xiaolongbao; and Shanghai is still an open, inclusive and attractive city.

In addition, he also found that the East China region, with Shanghai as the center, has always been the most active region for Japanese investment and trade in China. In his view, that is due to Shanghai’s openness. Shanghai has been at the forefront of China’s reform and opening up, from the development of Pudong in the 1990s to the establishment of the China (Shanghai) Pilot Free Trade Zone in 2013. Shanghai, which keeps pace with the times and continuously deepens reform and opening up, provides an excellent platform for Japanese companies to enter China, thus making it the most active destination for Japanese companies to invest and trade in for decades.

Looking forward to CIIE

When asked about his expectation for China’s further reform and opening up, Michiaki wrote down three Chinese words: open, inclusive, and sharing. And that will be best interpreted by the first China International Import Expo (CIIE) to be held at the National Exhibition and Convention Center in Shanghai from November 5th to 10th this year.

(The National Exhibition and Convention Center in Shanghai)

“In recent years, although the global volume of trade is rising, the growth rate of GDP of each country has been slowing down. Some countries have even adopted ‘anti-globalization’ policies which are gaining more support. In this context, how to maintain a free trade system, increase trade, and develop the economy have become important issues facing all countries. China, which contributes 30% to global economic growth as the second largest economy in terms of global trade, is going to hold the China International Import Expo and take the initiative to open its market to the world, providing a platform for trade and cooperation between countries. That means a lot.”