Shanghai Pavilion unveiled at 7th CIIE

The Shanghai Pavilion for the 7th China International Import Expo (CIIE) officially completed its setup on Sunday, showcasing a wealth of products that have transitioned from exhibits to commercial goods, along with exciting new launches.

Located in the northwest corner of the main venue's central square, the pavilion spans 300 square meters and is divided into three main thematic sections: "Craftsmanship of the Era," "Silk Road Boutiques," and "Future Space."

Highlights at the "Craftsmanship of the Era" section include fans and unique yarn rose handicrafts, both of which will make their debut at the expo.

"We started with yarn craftsmanship and aim to engage young audiences with these intriguing artistic cultural products. The significance of debuting at the expo is to share our outstanding traditional yarn weaving culture with people around the world, allowing them to appreciate our creativity and beautiful designs," said Liu Zhiyuan, project manager of a design innovation center for a time-honored Shanghai brand.

The 'Silk Road Boutiques' section features products such as Pakistani salt lamps, camel leather lamps, and Bangladeshi jute handicrafts, alongside Peruvian alpaca wool toys.

Many of these goods have entered the Chinese market through previous CIIEs and are now available in physical stores in Shanghai, showcasing the tangible results of the expo.

"This year, the theme of the Shanghai Pavilion focuses on fostering new quality productive forces to advance Chinese modernization. We are showcasing innovative achievements from various enterprises. The 'future space' section emphasizes Shanghai's recent developments in five key future industries, including fresh innovations in health, intelligence, space, and new materials," said Zhu Bingxin, deputy director of the Market System Construction Department under the Shanghai Municipal Commission of Commerce.

Shanghai Pavilion unveiled at 7th CIIE

China's financial sector is ramping up its support for key fields and weak links of the real economy by providing robust loans and continuing improving its credit structure.

In November, there was a significant growth in loans to both the manufacturing sector and innovative enterprises, reflecting the country's ongoing efforts to upgrade and transform its economy.

Medium- and long-term loans to the manufacturing sector rose by 12.8 percent year on year, while loans to innovative enterprises that use specialized and sophisticated technologies to produce novel and unique products increased by 13.2 percent. Inclusive loans to micro and small enterprises (MSEs) grew even faster, up 14.3 percent. All of these categories outpaced the overall loan growth rate, signaling an improved lending structure aligned with national economic priorities.

Meanwhile, the loan interest rates in China have remained at historic low levels, with a steady decline in corporate financing and household credit costs.

According to data from the People's Bank of China (PBOC), in November, the weighted average interest rate for newly issued corporate loans stood at 3.45 percent, 2 basis points lower than the previous month and 36 basis points lower than the same period of last year. The interest rate for newly issued personal housing loans came in at 3.08 percent, 7 basis points lower than the previous month and 92 basis points lower than the same period of last year, both reaching historic lows.

Personal loans have stabilized recently. PBOC data showed that, in October, the amount of personal housing loans issued exceeded 400 billion yuan (54.97 billion U.S. dollars), and the amount of early repayments decreased.

China's financial sector boosts support for real economy with targeted lending