Multinationals grasp opportunities at global trade fair
China’s value-added industrial output reached 31.3 trillion yuan ($4.8 trillion) last year, making the country the largest manufacturer in the world for 11 consecutive years, the Ministry of Industry and Information Technology said on March 1.
Lured by the ever-expanding manufacturing sector in China, many multinationals have turned their eyes to the vast opportunities in the Chinese market. For those interested in tapping into the potential of the booming manufacturing industry, the China International Import Expo might just be the right gateway.
The CIIE is a major importthemed expo and one of the top 10 business shows in the world. It will be held for the fourth time in Shanghai from Nov 5 to 10.
Thousands of exhibitors and hundreds of thousands of buyers from across the globe have come to Shanghai over the past three years to reap the benefits offered by the expo.
With its growing exhibition space and influence, the CIIE has become a must-attend event for international businesses.
The global trade fair caters to a wide range of industries, including food and agricultural products, automobiles, intelligent and information technology, consumer goods, medical devices, healthcare products and trade in services.
Each exhibition section of the comprehensive trade fair is a professional trade show in the specific industry. It is organized professionally and displays the industry’s cuttingedge products.
Among the different segments of the expo, the Intelligent Industry and Information Technology Exhibition Area highlights the latest products and technology in the manufacturing industry. In 2020, the area spanned more than 83,710 square yards and housed more than 300 enterprises from nearly 40 countries and regions.
Despite COVID-19, the area welcomed many newcomers last year, including Cheniere Energy, one of the largest liquefied natural gas producers in the United States. The company had a 179-sq-yd booth that displayed its new technologies and products.
Epson also made its debut in this area during the third CIIE. A host of other leading brands including GE, Hitachi, Siemens, Schneider Electric, Caterpillar,
John Deere and Volvo were featured here.
Last year, the Intelligent Industry and Information Technology Exhibition Area also housed the Energy Conservation and Environmental Protection subsection, which focused on fields such as water saving, new energy, resource recycling and environmental protection.
A new special subsection for integrated circuit exhibitors will be set up at this year’s CIIE, according to the CIIE Bureau.
Along with the newly added subsection, a special committee for the integrated circuit industry will be established to serve as an advisory body, a move aligned with the expo’s aim to become more specialized in different industries.
Previously, the CIIE set up a special committee on industrial digital transformation, which is committed to integrating the entire industrial chain and offering advanced digital transformation solutions to enterprises in the field of industrial production, to help them increase efficiency and improve quality.
Thousands of exhibitors, including Global Fortune 500 companies and industry leaders, attend the expo every year.
Each year, participating organizations ink billions of dollars’ worth of deals at the CIIE, and the amount continues to grow with each event. Over the past three years, deals worth more than $200 billion have been signed.
During last year’s CIIE which ended on Nov 10, the value of tentative deals reached for one-year purchases of goods and services hit $72.62 billion, a 2.1% year-on-year increase.
The CIIE provides extra benefits for companies entering China, offering special services that make doing business with Chinese partners as smooth as possible. The benefits cover consultancy, customs clearance, business registration, matchmaking and more.
At the CIIE, participants can promote their brands and gain significant media exposure. Global media attend the CIIE each year to report on the latest deals, products and innovations introduced to the market.
Over 10,000 journalists have covered the expo during the past three years. In the domestic market alone, more than 3.5 million reports and social media posts have featured the CIIE.
With its own intellectual property protection service team, the CIIE ensures every participant’s IP is well-protected.
Participants are given exclusive insight into how they can leverage preferential policies that make doing business in China easier, including preferential tax policies for the retention and purchase of imported exhibits.
Participants can connect with new business partners, customers, suppliers, and more importantly, government departments on all levels in China via a complete communication platform. It features over 100 forums, seminars and policy-interpretation meetings.
Preparations for the fourth CIIE are proceeding smoothly, and more than 60% of the exhibition area has been booked.