This Day, That Year: July 17

Editor's note: This year marks the 70th anniversary of the founding of New China.

An item from July 15, 1989, in China Daily showed foreign exhibitors introducing their products to visitors at the first Beijing International Fair. It attracted about 3,000 companies from 24 countries and regions.

That year, the country's import and export volumes hit 415.6 billion yuan ($60.5 billion).

In recent decades, the country has grown into the world's second-largest economy, leading the world in exports and coming second for imports last year, according to the World Trade Organization.

As the largest trade partner of more than 130 countries, China's total imports and exports exceeded 30 trillion yuan last year, according to the National Bureau of Statistics.

In the next 15 years, China's imports of goods are expected to exceed $30 trillion and its imports of services $10 trillion.

Last year, the first China International Import Expo was held in Shanghai, allowing the world an opportunity to enjoy the achievements of the country's globalization and economic growth, with up to 1 million people visiting the expo.

The value of potential deals resulting from the nearly weeklong event topped $57.8 billion. High-end smart technology made up the largest category at $16.5 billion, followed by $12.7 billion worth of food and agricultural products, and $12 billion in automobiles.

The second CIIE will be carried out on a larger scale and a higher level from Nov 5 to 10 in Shanghai.

This year's expo will see its exhibition area expanded to 300,000 square meters from 270,000 sq m last year.

So far, more than 50 countries have confirmed their presence at the country exhibition pavilion. While 200 Fortune 500 companies took part in last year's show, the number will increase to at least 250 this year.