BEIJING -- The first China International Import Expo will deepen economic globalization and promote an open world economy, the Ministry of Commerce said Thursday.

Chinese Vice-Minister of Commerce Fu Ziying said the first China International Import Expo, scheduled in Shanghai for Nov 5-10, 2018, was "a significant move for China to open up its market to the world and will facilitate trade and opening-up among participating countries."

"The expo will also push the development of the Belt and Road Initiative as well as economic globalization," Fu said.

The expo will include exhibitions and forums, provide a platform to trade goods and services, and work for closer international cooperation.

Over 100 countries and regions are expected to participate in the expo, with state leaders, entrepreneurs and scholars from various countries joining the event.

Chinese President Xi Jinping announced in May this year that China would hold the International Import Expo starting 2018.