Copyright independent
The eighth China International Import Expo, opened in Shanghai on 5 November, offers a great opportunity for multinational companies to build a global pivot, and turn exhibits into commodities, experts and executives say. Stefan Oelrich, a member of the board of management of Bayer AG and head of its pharmaceuticals division, said the fair offers a great opportunity for import decision-makers to come together in China. “For us it’s absolutely key to have a good presence there. We’re looking to showcase part of our pipelines that are making good progress, and are pleased with China being a market where we participate in doing clinical trials and launching innovation incubators. We are also pleased that we see a better access in the biotech sector that needs capital support that we could provide.” Bayer, taking part in the expo for the eighth year in a row, said it is a key platform that drives high-standard development through high-level opening-up. Silver Fern Farms of New Zealand also has a long history with the expo. Speaking of the event’s spillover effect, Dan Boulton, chief executive of Silver Fern Farms, said it offers a platform for the company to share New Zealand’s natural goodness with the Chinese market. The company planned to showcase New Zealand grass-fed mini beef and cheeseburgers at the expo. China is New Zealand’s largest trading partner, and the value of trade between the two countries exceeded the equivalent of $21.9 billion (£16.65 billion) last year, Boulton said. “The complementary value cooperation between the two countries has created unparalleled trade opportunities, paving new ways for enterprises from the two countries to advance exchange and cooperation.” Organisers said that at last year’s event deals worth a total of more than $80 billion (£61 billion) were sealed, 2 per cent more than in 2023. Anu Rathninde, president for Asia-Pacific of the US smart building solutions provider Johnson Controls, said: “The fair is attracting more and more attention, and it keeps evolving, not only as a stage to showcase products, but also as a platform for cross-border and cross-sector collaborations. “Chinese customers are also seeking integrated smart solutions designed for their industry’s full life cycle, rather than only individual products. These offer us great opportunities.” Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, said: “The fair accelerates the landing of foreign investment projects, drives collaborative innovation in the upstream and downstream of the local industrial chain, and forms a virtuous cycle of introduction, absorption, re-innovation. The expo also optimises the business environment through policy docking and institutional innovation, provides long-term development guarantees for multinational companies, and achieves the continuous transformation of exhibits into commodities and exhibitors into investors.” Susan Gu, general manager for the Chinese mainland and Hong Kong of the consumer health company Haleon, said: “We have personally experienced the accelerated transformation of exhibits into products. Our products that have appeared in previous CIIEs have all achieved unexpected market responses after entering the Chinese market.” The six-day event features more than 4,100 exhibitors from 155 countries, regions and international organisations, with total exhibition area exceeding 430,000 square metres. Both the number of participants and the scale of the exhibition set records, China’s Ministry of Commerce said.
