Photo taken on Sept. 19, 2020 shows a flight featuring the mascot of China International Import Expo (CIIE) at the Guangzhou Baiyun International Airport in Guangzhou, south China's Guangdong Province. (Xinhua)

In Prof. Gu Qingyang's opinion, the CIIE is like "an invitation" from China to establish a healthy economic relationship between itself and the rest of the world, in accordance with market rules for the free two-way flow of goods and capital.

SINGAPORE, Oct. 27 -- The upcoming China International Import Expo (CIIE) will bring hope and confidence to the global economy, an associate professor at the Lee Kuan Yew School of Public Policy of the National University of Singapore has told Xinhua.

Since the outbreak of COVID-19, the global economy has been experiencing unprecedented hardships not seen since the Great Depression of the 1930s, Gu Qingyang noted.

As projected by the International Monetary Fund earlier this month, the global economy is expected to contract by 4.4 percent in 2020.

"The grim situation is largely attributable to the inefficient demand worldwide," Gu said.

The helplessness and hopelessness in achieving economic recovery prevail in many parts of the world, as business owners are unsure of when the pandemic will be over, and are also trying hard to maintain the operation of their enterprises and keep employees' jobs.

Against such a background, Gu said, the hosting of the third CIIE in Shanghai early next month is of special importance, as it will shed a ray of hope over a gloomy sky, particularly since China is believed to be the only major economy to register positive growth this year.

The CIIE will also help stimulate China's domestic demand, which will result in more business opportunities both for domestic and international enterprises. In other words, the CIIE will be beneficial not only to Chinese enterprises but also to those overseas, serving as a shot in the arm for the latter during hard times, Gu said.