A rising number of multinational corporations are launching their newly developed products and innovative solutions in China at the fifth China International Import Expo (CIIE), which kicked off in Shanghai on November 4. The trend, experts said, demonstrates MNCs’ growing confidence that the Expo has evolved over the years into a global platform for foreign trade. It also shows MNCs’ high expectation that the larger Chinese market will also benefit from the spillover effect. As many as 284 companies on the Fortune 500 list or industry leaders are present at the corporate exhibitions.
In line with the nation’s 14th Five Year Plan (2021-25) and targets through 2035, the CIIE has established special zones for the agricultural industry and artificial intelligence (AI), optimized the special area for low carbon and environmental protection technology, and expanded the innovation and incubation area. More than 150 startups specialized in technological equipment, consumer products, and the medical and automotive fields present themselves at the innovation and incubation area.
President Xi Jinping delivered a keynote speech via video link at the opening ceremony. He renewed China’s pledge to widen opening-up, including steps to import more quality products. Xi highlighted the need to remain committed to openness to meet development challenges, foster synergy for cooperation, build innovation momentum and deliver benefits to all. “We should steadily advance economic globalization, enhance every country’s dynamism for growth, and provide all nations with greater and fairer access to the fruits of development,” he said.
“As the world’s first national-level exhibition for imports, the CIIE is a good reflection of China’s dual-circulation development model, which is designed to promote internal consumption while opening the domestic market to external trade,” said Kentaro Fujiwara, CEO of leading Japanese cosmetics firm Shiseido’s China branch. “The Expo has provided a window for Shiseido to showcase its own innovation and achievements to the world. It is also a platform through which we can deepen our involvement in the China market, fully demonstrate our strengths in beauty and innovation, and continue to bring new products and technology to both Chinese and global consumers,” he said. At this year’s Expo, the Japanese company is displaying more than 40 new products from 22 popular brands. A series of brands, including skincare brand Urara, will make their debut.
More than 1,500 new products, technologies and services made their debut at the Expo over the past four years. Hou Yang, Chairman and CEO of Microsoft Greater China, said the company has attended every CIIE and this one coincides with the company’s 30th anniversary in China. The CIIE, he said, has evolved into a good platform to share ideas, connect with customers and partners and share innovations not only from Microsoft but also its customers and partners.
“This year we plan to showcase solutions built on Microsoft technologies – both by local partners seeking to have a greater global impact and international partners seeking opportunities in China,” Hou said, adding the company’s booth will particularly highlight innovation around sustainability, industry transformation and healthcare aimed at empowering efficiency, resilience and better outcomes.
Frank Meng, Chairman of Qualcomm China, said after more than four years of development, the CIIE has turned exhibits into commodities and exhibitors into investors. This has been the firsthand experience of Qualcomm’s participation at the CIIE. Zhang Yansheng, Chief Researcher at the China Center for International Economic Exchanges, said: “The fact that the CIIE is organized every year demonstrates that China honors its commitment to high-level opening-up and is sharing its development dividends with others to shore up globalization. A report delivered to the 20th National Congress of the Communist Party of China (CPC) emphasized that the country would promote high-standard opening-up, and this year’s CIIE is showing the event has aligned itself with the goal. Tetsuro Homma, Executive Vice President of Panasonic Holdings Corp, said the company regards the CIIE as a strategic global exhibition, and an important platform for communication with the world. This year, the company will showcase its environmental technologies and solutions, the China Daily reports.
