(CIIE) Letter from China: Top reasons for businesses to join CIIE

by Xinhua writer You Zhixin

SHANGHAI, Nov. 8 (Xinhua) -- In 2018, China launched the China International Import Expo (CIIE) to support trade liberalization and economic globalization and open up the Chinese market. Held annually in Shanghai from Nov. 5 to 10, the CIIE is the world's first national-level expo focusing exclusively on imports.

Having covered the CIIE for seven years, I've interviewed newcomers and regulars, attended countless forums, and witnessed the expo's efforts to expand its global influence. Year after year, the CIIE strives to foster win-win cooperation and provide international public goods amid shifting global political and economic tides.

For those curious about how the CIIE could benefit their development in China, here are the top reasons to join this remarkable event.

The CIIE is an essential gateway to China's massive market of over 1.4 billion people, whose purchasing power continues to rise. The expo may last only six days each year, but it facilitates long-term business relationships and opens doors to year-round opportunities across China.

China is home to a diverse and growing middle class eager for high-quality products and services from around the world. By participating in the CIIE, foreign companies can engage directly with both consumers and key business stakeholders, gaining invaluable insights into local preferences and demands. This direct access enables companies to refine their strategies, positioning themselves to better serve the needs of Chinese consumers.

The CIIE's platform provides the reach and visibility to enter markets across China more efficiently than any other approach. Past exhibitors have reported success in expanding their brand presence, launching new products, and securing lucrative partnerships with Chinese firms.

Yann Bozec, president and CEO of Coach, APAC Region, and a six-year CIIE veteran, noted that each CIIE offers foreign businesses an invaluable opportunity to engage with the world's largest consumer base -- a chance no global enterprise should overlook.

Moreover, the CIIE has not only steadily grown but has also proven itself a platform for solidifying business deals over the past seven years.

The first six editions of the event have generated a total intended transaction amount exceeding 420 billion U.S. dollars. Over 1,130 foreign enterprises and investment promotion organizations have facilitated targeted connections across China, demonstrating the expo's vital role in fostering global business opportunities.

Furthermore, amid ongoing trade tensions and tariffs imposed by the U.S. and Europe on Chinese products, the CIIE has only grown in significance, emerging as an indispensable platform for global businesses seeking to access the Chinese market.

Major international auto companies, for example, continue to showcase their latest environmentally friendly innovations at the event, reaffirming their commitment to China, the world's largest vehicle market.

Additionally, building on last year's success, the U.S. Food & Agriculture Pavilion, organized by AmCham Shanghai and the U.S. Department of Agriculture, returns to promote American products. These efforts highlight that, despite global uncertainties, China remains an essential destination for trade and investment, making CIIE an unmissable opportunity for foreign enterprises.

Last but not least, if you want to stay ahead of developments in the Chinese market, the CIIE is the place to be.

Each year, the expo offers a front-row seat to China's commitment to high-level opening-up and sustainable growth, showcasing the country's progress across various sectors. From sports and new materials to artificial intelligence and low-altitude aviation, CIIE continually introduces new industries, providing a glimpse into emerging opportunities.

As Leo Tam, a senior director of Edwards Lifesciences China, shared with me at this year's event, the medical industry is especially taking note of China's impressive strides. He highlighted how China's steadfast dedication to openness and inclusivity is reflected in the significant steps it has taken.

Moving forward, the CIIE will continue to grow, evolving year by year as an essential platform for international cooperation. ■