This year’s China International Import Expo (CIIE) is significant for its scale, bringing together representatives from 155 countries, regions, and international organizations, as well as 290 of the world’s largest companies. Key themes include artificial intelligence and the green transition, with a strong focus on the services sector.
Dr. Carl Fey, Professor of Strategy at BI Norwegian Business School in Oslo, spoke to CGTN Europe, noting that China is working closely with international partners to strengthen global trade governance - for example, by expanding visa-free business travel for more European countries and enhancing collaboration on green technologies.
00:00Well, Dr. Carl Fay is Professor of Strategy at BI Norwegian Business School.
00:04Professor, welcome. Good to see you.
00:06Well, they gather in interesting times.
00:08Just how significant is this year's gathering?
00:13Well, I think the thing that strikes one most is the scale of things.
00:17This has moved from a smaller thing to a really large thing.
00:21Now this year, 155 countries are represented here.
00:24290 of the 500 largest firms in the world are here.
00:30They're expecting about 450,000 visitors.
00:33So this is surely not small.
00:36And I think we're seeing some important themes like AI and the green transition mentioned a lot at the Hongqiao Forum that I'm talking about, which is part of this.
00:48And we see also increasing prevalence in areas like the silver economy, which is becoming really important for China along with health care.
00:58China's premier in his speech talking about China's commitment to what he called high standard opening up and expanding market access, especially in the services sector.
01:09And what does that look like in practice?
01:10And what does that mean in particular for European businesses?
01:14Well, the state council has recently approved 155 pilot programs to open up the service sector.
01:24I think some of the reason for this is that while there's been lots of talk about many countries, probably most loudly, the U.S. having a trade deficit with China.
01:32You know, the U.S. and many European countries have a trade deficit in trade of products, but they actually have a trade surplus when it comes to trade and services.
01:43So I think China has realized, OK, so, you know, everyone can specialize in what they're best at doing.
01:48If European countries are really good at services, let's leverage that.
01:52And so I've done things like allowing doctors to press practice in China who are foreign doctors without getting certification here on a short term basis in the financial sector.
02:02Now, pension funds and insurance companies are able to work here.
02:06And it's even possible to open up foreign nursing schools, for example.
02:13So we see a number of different pilot projects and they see what works and what doesn't work and build on that.
02:19The premier also mentioning in his speech China's willingness to work with partners to strengthen global trade governance.
02:28In particular, I wonder how that looks like for China EU collaboration.
02:33Well, I think there are a number of things.
02:37One of the most sort of visible things, which may seem at first to be small, but I think is a pretty big deal, is that China has been expanding its visa-free business possibilities.
02:47So now a lot of European countries can come and do business for a period of time visa-free.
02:54And so that just makes it that much easier to come and, you know, work in China.
02:59Also, I think Europe is trying to, you know, keep more moderate or even no tariffs with China.
03:07Norway has done a particularly good job of that where I'm based, you know, in electric vehicles.
03:12Much of the world has put tariffs on Chinese EVs.
03:16Norway has decided not to have any tariffs on EVs.
03:20And this has helped Norway to be the country in the world that has the highest percentage of new car sales being EVs, about 95%.
03:28So, you know, especially when we talk about things like the green transition, we need to all collaborate together.
03:35Because you can't sort of say we're going to have Norway be beautiful and green and the rest of the world not.
03:40You know, we're all intertwined in that.
03:41And I think China has recognized that.
03:43And I think so.
03:44This is one area that probably all of Europe, which has been a leader in different green technologies, can probably collaborate a lot with China.
03:52Carl Fay, thank you for that.
03:53Dr. Carl Fay, Professor of Strategy at BI Norwegian Business School.
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