(CIIE) Economic Watch: Zoom in on 6th CIIE from six perspectives
The CIIE has “added more confidence into the active integration of multinational enterprises into China’s economic development, and also made people fully feel China’s big country style of sharing market opportunities with the world and promoting global economic recovery,” said Jean-Christophie Pointeau, Pfizer Global senior vice president and Pfizer…
SHANGHAI, Nov. 10 (Xinhua) — The sixth China International Import Expo (CIIE), which closed on Friday, saw tentative deals reach a new high, injecting confidence into the sluggish recovery of the global economy.
With a turnover rising from 57.83 billion U.S. dollars in the first CIIE to 78.41 billion dollars in its sixth edition, the world’s first import-themed national-level expo has made greater opening up and win-win cooperation a reality.
The CIIE has “added more confidence into the active integration of multinational enterprises into China’s economic development, and also made people fully feel China’s big country style of sharing market opportunities with the world and promoting global economic recovery,” said Jean-Christophie Pointeau, Pfizer Global senior vice president and Pfizer China president.
From escalators powered by the Internet of Things to smart devices for people with limited hand and arm mobility, the debuts of cutting-edge technology and products at the CIIE indicates the strong confidence of foreign exhibitors in China’s industrial upgrades and consumer market.
Clothing retail giant Uniqlo has participated in the event for four consecutive years and debuted more than 10 major products, with many seeing surging sales afterwards. This year, the company brought its latest nano-tech down jacket.
At the sixth CIIE, exhibitors presented more than 400 new products, technologies and services to the public. The combined figure for those debuted in the past five editions stood at about 2,000.
The increasingly prominent “debut effect” at the CIIE mirrors the ever closer bonds between foreign exhibitors and the Chinese market.
The CIIE creates win-win situations with not only opportunities for businesses but also improvement to China’s position in the global value chain, said Jalin Wu, Fast Retailing Group Executive Officer and Uniqlo Greater China Chief Marketing Officer.
The CIIE has built a reputation as a platform with a strong atmosphere of technology and innovation. Eye-catching innovations this year included a brain wave program that helps monitor drivers’ conditions, a humanoid robot that can shake hands, and an electric vertical take-off and landing aircraft that can carry up to five passengers.
The exhibition area of frontier technologies, including low-carbon and environmental protection, planting industry and integrated circuits, increased by 30 percent from the previous year. The number of innovative small and medium-sized enterprises participating in the expo hit a record high this year.
Over the past years, the CIIE has helped many innovations and new products become massive hits.
Siemens Healthiness introduced its photon-counting CT technology at the fourth CIIE, brought physical products to the fifth, and got the greenlight for sales in China in October this year. The approval period was cut by half compared to usual procedures.
“The CIIE is a window for China to build a new development pattern and has also injected strong momentum into the innovative development of the medical industry,” Wang Hao, president of Greater China at Siemens Healthiness, said.
Green development has increasingly become the foundation and highlight of the CIIE. Using green electricity as its only source for power for the first time, this year’s expo is expected to reduce carbon emissions by 3,360 tonnes.
Each year at the CIIE, automaker Hyundai Motor Group has displayed hydrogen cell vehicles as the centerpiece of its booth. This year, its hydrogen cell trucks and minibuses made their debut at the expo, attracting many spectators.
Hyundai is among many foreign exhibitors that have localized their green products and technology with the support of the CIIE platform, betting on China for green development.
In June, the group’s first overseas R&D, production and sales base of hydrogen fuel cell system was completed and started mass production in south China’s Guangzhou.
“China is undergoing one of the largest energy transition in human history. The speed and scale are quite impressive,” said Anne-Laure Parrical de Chammard, member of the executive board of Siemens Energy AG. The company has signed a batch of contracts on green development during this year’s CIIE.
“China’s carbon reduction and carbon neutrality goals demonstrate the country’s determination to meet climate challenges and accelerate energy transition,” she said, adding that her company is ready to bring the best to Chinese customers and partners and contribute more to the green and low-carbon energy transition in China.
For six consecutive years, the LEGO Group has launched worldwide new products rich in Chinese cultural elements at the CIIE. Among the 24 new products launched at the expo in the past years, 16 were part of the traditional Chinese festival and LEGO Monkie Kid series, the latter of which is inspired by the Journey to the West.
“The CIIE is the best occasion for us to launch new products derived from Chinese traditions and culture,” said Paul Huang, senior vice president of the LEGO Group and general manager of LEGO China.
In the past six years, the LEGO Group has steadily expanded its business in China. As of the end of September, the number of the group’s retail stores has increased from 50 in 2018 to 469 in China, with the number of cities covered expanding from 18 to 122.
Household supplies combining the elements of Song Dynasty porcelain, and dragons and persimmons, digital needle-dyed carpets inspired by Chinese calligraphy, and intelligent blood sugar management applets that are more in line with the habits and needs of Chinese users — a variety of exhibits with Chinese elements offer a glimpse of foreign firms’ strong desire for deeply exploring the Chinese market.
Besides customizing products for the Chinese market, promoting R&D research in China has also become the routine for many multinational enterprises. For example, Johnson Controls held global debut of its magnetic levitation frequency conversion centrifugal chiller unit and direct evaporation air handling unit at this year’s CIIE, which are wholly developed and produced in China.
“We have 10 manufacturing plants and three R&D centers in China,” said Anu Rathninde, president of Johnson Controls Asia Pacific, “China is one of the most important markets for us in the world.”
DIVERSITY AND INTEGRITY
As an international expo shared by the world, the CIIE continues to promote inclusive and mutually beneficial development around the world.
A total of 154 countries, including least developed, developing and developed countries, as well as regions and international organizations participated in the CIIE this year.
More than 100 enterprises from the least developed countries were provided with free booths and construction subsidies to ensure exhibitors across the world can hop on the express train of the CIIE to enter the Chinese market with a global vision.
“The CIIE has greatly improved the global popularity of our coffee beans,” said Bei Lei, executive curator of the national pavilion of Timor-Leste at the expo, adding that they have reached initial cooperation intentions with several traders, which is expected to boost the country’s coffee exports significantly next year.
EXCHANGES AND MUTUAL LEARNING
The Hongqiao International Economic Forum is an important part of the CIIE. Over 8,000 Chinese and foreign guests joined in the forum during Nov.5 to 6.
Twenty-two sub-forums featuring topics such as global industrial chain, digital economy, green investment and trade, protection of intellectual property rights and South-South cooperation were also held during the expo.
The CIIE is not only a trade fair, but also a big stage for the exchange of views and mutual learning among civilizations. A variety of cultural events were held to broaden communication channels for business people around the world.
“As China has proven, opening up is not just about removing trade barriers or encouraging investment, it is about opening minds to new ideas and hearts to cultural exchange,” said Rebeca Grynspan, secretary-general of the United Nations Conference on Trade and Development. Enditem