A total of US $70.72 billion worth of intended deals were signed for goods and services at the fourth China International Import Expo (CIIE), which concluded on November 10, said Deputy Director of CIIE Bureau Sun Chenghai.
According to Sun, more than 2,900 enterprises from 127 countries and regions participated in this year’s business exhibition, which covered a record area of 366,000 square meters. A total of 422 new products, technologies, and services were showcased at the exhibition. There were 281 Fortune 500 companies and corporate giants in attendance and almost 40 of them made their CIIE debuts, while more than 120 have participated in the event for their fourth consecutive year.
Exhibits become commodities, exhibitors become investors, new friends become old friends, and the CIIE continues to have many positive spin-offs. With many foreign exhibitors seeing the CIIE as an open platform, in the process of connecting and communicating with the Chinese market, businesses find a raft of new opportunities and fields for mutual cooperation.
Groups of colored lights made in Zigong, Sichuan Province, decorating the stadium and exhibition area at the fourth CIIE in Shanghai.
Exhibits Become Commodities
“Rezum system, a first-of-its-kind minimally invasive water vapor thermal therapy to treat benign prostatic hyperplasia, will be introduced to hospitals in Beijing, Shanghai, and Guangzhou next year,” said Li Boyu at the Boston Scientific booth in the CIIE’s medical equipment and healthcare exhibition area. This system attracted much attention at the exhibition. One month after the first appearance of the Rezum system at the third CIIE in 2020, a domestic “first trial” operation took place in the Hainan Boao Lecheng International Medical Tourism Pilot Zone. At present, the product has successfully treated 55 patients.
According to June Chang, president of Greater China at Boston Scientific, thanks to the CIIE’s exposure, several products exhibited by Boston Scientific at previous CIIEs have now landed in the Chinese market. “CIIE’s spillover effect has made more overseas brands place great value in the Chinese market. We believe in a better future.”
This year marks the 20th anniversary of China’s accession to the World Trade Organization. Over the past two decades, China has continuously lowered its overall tariff level, improved laws and regulations, and relaxed foreign investment requirements. China’s trade in goods and services have risen to the first and second places in the world respectively, and its average annual contribution to global economic growth is close to 30 percent.
Fruitful results were achieved during the fourth CIIE despite the COVID-19 pandemic.
See You Next Year
Decathlon, a French sport equipment retailer, reached a number of cooperation agreements during the six-day exhibition, expanding its business in China. “We are quite confident about the Chinese market,” said Pascal Bizard, senior vice president of Decathlon China. “China’s policy of continuously opening up has provided us with more opportunities. The CIIE is the best proof. We will come again next year,” he said.
Decathlon showcased a series of new products, such as car roof tents that can be pitched within one minute, skis for young children, and badminton rackets tracing sport performance. In addition, Decathlon continued the previous immersive space experience, visually presenting the huge imaginary space of sports solutions for the first time, and once again won the “Most Beautiful Booth” and “Most Dynamic Design” awards.
Decathlon’s continued investment in China has enabled it to gain access to a larger market. At this CIIE, Decathlon China announced the establishment of its headquarters in Beijing. In the future, Decathlon will expand the development of the entire industry chain, with innovation and cooperation as the key elements, and increase China’s important role as the first location to launch global new products and solutions.
“The CIIE is an international platform for openness and cooperation. It demonstrates China’s high-level and continuous opening-up to the outside world, a stage for global sharing and mutual benefit. It can realize the efficient integration and transmission of market information and resources, and provide more possibilities for foreign companies to seek extensive cooperation. Decathlon is the beneficiary of win-win cooperation,” said Wang Tingting, vice-president of Decathlon China. Wang added that Decathlon appreciates China’s new “dual circulation” economic development model in which the domestic and international markets complement each other while the domestic market is the mainstay.
Chefs serving unique French food to visitors at a French company booth.
“We Are the Best Witness”
The L’Oréal Group participated in the CIIE for the fourth consecutive year, and for the second consecutive year served as the rotating chair of the CIIE Exhibitor Alliance Council and the president of the Daily Chemical Consumer Product Professional Committee.
“Create the beauty that moves the world” is the theme of L’Oréal’s participation this year. “Beauty for Tomorrow,” one of the four exhibition areas, focused on sustainable development. “The lipstick printer that can ‘print’ thousands of colors; water-saving shampoo and hair care products that can save up to 80 percent of water – what we bring is the concept of environmental protection, low carbon, and sustainable development of beauty products,” said Fabrice Megarbane, president of L’Oréal in North Asia and CEO of L’Oréal China. He hopes to promote the realization of global carbon reduction and China’s carbon peaking and carbon neutrality goals through new product research and development.
The “lipstick printer” has become a popular product among young women, and the makeup effect of each lipstick can be vividly displayed on a smart phone.
“Despite the impact of the COVID-19 pandemic, L’Oréal China’s sales in the third quarter of this year increased by 42.8 percent compared to the same period of 2019. During the first half of this year, the group also upgraded Shanghai to its North Asia headquarters,” said Megarbane.
The huge Chinese consumer market and active consumer groups instill confidence in international brands rooted in China. “We hope that L’Oréal will be closer to the Chinese beauty market and consumer trends, and deepen consumer insights, because beauty products are changing rapidly, and the influence of Chinese consumers in the beauty market is too huge to ignore. In China, we see a better future!” said Megarbane.
Speaking of the CIIE’s contribution to stimulating global economic and trade development, he said that the world has now become an inseparable whole, and after developing the company in China for 24 years, it is the best testimony to China’s opening-up and global cooperation.
Clothing made by recycled materials attracts the attention of many passersby at the fourth CIIE.
“Dual Circulation” Brings Development Opportunities
The CIIE visitors enjoyed the delights of freshly baked bread, pastries, and desserts on site, along with other culinary experiences. The Savencia Saveurs & Spécialité Group led many well-known brands under its umbrella to appear at the CIIE for the third time.
Savencia Fromage & Dairy is a subsidiary of Savencia Saveurs & Spécialité, producing dairy products, and is committed to the research and development of new products all year round. “The CIIE is held as scheduled, and brings more opportunities for mutual benefit and win-win to the world. It also provides Savencia with a platform to showcase the group’s high-quality products and sustainable development concepts, as well as directly communicate and understand the needs of industry customers and Chinese consumers,” said Jean-Baptiste van Elslande, general manager of the corporation’s international business department.
Savencia has adhered to the vision of “leading the way to better food” for many years, and has continuously made breakthroughs in its business performance in the Chinese market. “In the future, Savencia will continue to develop business in China to meet the growing market demand.”
“The global economy continues to be sluggish. The Chinese government’s effective prevention and control measures against the pandemic and its dual circulation policy make the Savencia Group optimistic about the company’s development prospects in China, hoping to continue to deepen its penetration of the Chinese market and commit to long-term business development,” said Denis Vergneau, general manager of Sinodis under Savencia China. He noted that the continuous advancement of the dual circulation pattern will bring development opportunities for the group, and that Savencia will continue to focus on high-quality food to meet the needs of more Chinese consumers.
In 2021, Savencia’s brands Elle&Vire and Valrhona supported the third China Pastry Cup as founding partners, and Corman Butter assisted the China Regional Trial of the Louis Lesaffre international bakery competitions. Savencia hopes to use these two competitions to help the dessert and bakery industry cultivate more chefs and improve the standards and skills of China’s dessert and bakery industry.
“China’s economy continues to resume its growth, and development goals and blueprints are clear. For many multinational companies, it has become an important driving force for revenue growth,” said Vergneau.
Through the successful holding of the four CIIEs, he noted, the Chinese government has promoted high-level opening-up, which will surely inject more vitality into China’s future development. This will give foreign-funded enterprises more confidence in the long-term development of the Chinese market, he added.
