Multinationals set to take advantage of event, tap resilient China market
Exhibitors and importers hold talks during a supply-demand matchmaking meeting on July 26 ahead of the third China International Import Expo in Shanghai. (GAO ERQIANG / CHINA DAILY)
Multinational companies are banking on the forthcoming China International Import Expo to showcase their confidence in the country’s economic resilience, market potential and policies, experts said.
Global consultancy Accenture said it will showcase at the expo its latest digital applications, which will be a combination of intelligent applications, data and infrastructure necessary to tackle uncertainties.
Zhu Wei, chairman of Accenture in China, said the country has shown great resilience in the face of COVID-19, and it is crucial for businesses to work together and boost innovation to navigate the challenging times.
“We are glad to participate in the CIIE this year and showcase our latest global innovation capabilities and full-span digital services, to support the Chinese government and businesses in accelerating their transformation and succeeding in the digital economy,” he said.
The CIIE is also an important avenue for new product launches by companies like cosmetics giant Estee Lauder. Two perfume brands which debuted at last year’s CIIE — Kilian and Editions de Parfums Frederic Malle — were officially launched in Shanghai in June, suggesting continuity and commitment to China.
“The scheduled hosting of the third CIIE represents a steady recovery and long-term momentum of the Chinese economy as COVID-19 gets effectively controlled,” said Fan Jiayu, president of Estee Lauder Companies in China.
Fan said Estee Lauder’s addition of 100 square meters of exhibition space at the CIIE is the latest testimony to its confidence in the market, following the announcement earlier this year that it would build a world-class research and development center in China to achieve beauty breakthroughs for China, Asia-Pacific, and even globally.
Tire manufacturer Michelin seeks to forge closer ties with the “Chinese people, Chinese market and China’s development” through the CIIE, said Kamran Vossoughi, president and CEO of the company’s China unit.
“We decided to participate in the CIIE without any hesitation, because it’s a major move made by China to further open its market and … it will support the recovery of the Chinese economy,” he said, adding the company aims to extend displays beyond tires during the fair.
Scientific services company Thermo Fisher is doubling down on the CIIE by hosting two stands at the event: a 400-sq-m exhibition hall with a variety of healthcare, biopharma and food and agricultural products, and a presence at the newly established public health and pandemic prevention area, showcasing relevant products and solutions related to anti-epidemic measures.
“The past two CIIEs have provided Thermo Fisher with an excellent platform to showcase cutting-edge technologies and solutions. They also provide valuable opportunities for in-depth communication with partners in the government, industry research institutions, and local enterprises,” the company said in a news release.
Also making a dual presence is pharmaceutical giant MSD, which leads the first public health and epidemic prevention committee for the 2020 CIIE.
“We will work closely with the CIIE Bureau and our peers to showcase innovation and clinical development in public health and epidemic prevention, specifically as it is related to direct-acting antiviral drugs and vaccines against COVID-19,” said Joseph Romanelli, president of MSD China.
French pharma company Sanofi will be demonstrating a digital healthcare strategy tailored to the needs of Chinese patients, according to Pius S. Hornstein, general manager for general medicines and country lead at Sanofi China.
“We have been emboldened by the Chinese economy’s strong resilience and great potential,” Hornstein said, adding that the company would stick to its plan of introducing more than 25 innovative products to China by 2025, while accelerating innovation to meet diversified healthcare demands.
