BizChina

The curtain came down on the 8th China International Import Expo (CIIE) in Shanghai on Monday. As the first major economic and diplomatic event following the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China, the fair recorded a new record high in intended transactions, underscoring the magnetic attraction of China's massive market.

Intended transactions stood at $83.49 billion on a one-year basis, up 4.4 percent from the previous edition and hitting a new record high, the Xinhua News Agency reported on Monday.

China's Ministry of Commerce on Saturday called on the Netherlands to put forward constructive plans and take concrete actions to restore the stability of the global semiconductor supply chain.

A spokesperson for the ministry made these remarks when asked to comment on the statement concerning the issue of the semiconductor manufacturer Nexperia, an overseas subsidiary of Chinese company Wingtech, released on Thursday by Vincent Karremans, Dutch minister of economic affairs.

ASML at 8th CIIE Shanghai China

Dutch chip manufacturing equipment provider ASML Holding NV is committed to serving the Chinese market within the boundaries of all applicable laws and regulations, a senior executive said, adding that artificial intelligence has become a key driver for increasing demand for chips across many industries.

"Like other major markets, China is crucial to ASML's global growth and long-term development," Shen Bo, executive vice-president of ASML and president of ASML China, said in an interview with China Daily. "According to our recent third-quarter finance results, we project that China will account for over 25 percent of ASML's total sales in 2025."

The Chinese market remains foundational for Australian businesses, not only for its scale and sophistication, but also for its growing role in driving global trends in sustainability, innovation and consumer preferences, Vaughn Barber, chairperson of the China-Australia Chamber of Commerce (AustCham China), told the Global Times in an exclusive interview on Wednesday.

The remarks came as China's annual trade fair, the China International Import Expo (CIIE), is being held in Shanghai from Wednesday to November 10, attracting government and business delegations from around the world, including Australia, that are eager to seize opportunities in China's open market.