Shanghai will make every effort to this year ensure the second edition of the China International Import Expo (CIIE) is a success, Shanghai mayor Ying Yong told lawmakers in his work report delivered at the ongoing Shanghai People's Congress annual session.

The financial hub of China will also speed up the construction of a higher level, new system of open economy.

Shanghai in 2019 will try to explore ways to normalize bonded commodities exhibitions and trade, attract more international capital and enterprises, and further boost the spillover effect of the CIIE, he said.

In the meantime the city will increase trade with economies involved in the Belt and Road Initiative, and attract more multinational companies to construct regional headquarters and research and development centers in Shanghai.

Latest figures show that more than 500 companies from across the world have confirmed their participation in the second edition of CIIE, scheduled in early November this year.

A total of 172 countries, regions and international organizations, and 3,617 enterprises last year participated in the first CIIE, held on Nov 5-10, in Shanghai. Potential deals worth more than $57.83 billion were made.