Eyeing China's huge market, the ongoing China International Fair for Trade in Services (CIFTIS) in Beijing has served as an important platform for global businesses to tap into the vast market of the world's second-largest economy.
Over 450 Fortune 500 enterprises and companies taking the lead in their respective industries, as well as 85 countries and international organizations, are represented at the 2024 CIFTIS.
Themed "Global Services, Shared Prosperity," the five-day event opened in Beijing on Thursday.
A French exhibitor Ines Ginon, who serves as the president of GL events Greater China, has met with numerous partners at the fair.
Noting that 45 percent of the company's revenue came from international markets last year, Ginon said that big contracts secured at the fair last year prompted their swift return this year.
"So it's the second edition that we are participating in CIFTIS. We obviously met a lot of people since we started yesterday. And we hope that will bring us some new business definitely," said Ginon.
Pascal Gondrand, commercial investment counselor at the French Embassy in China, hopes to enhance understanding of French enterprises in the Chinese market through the French Pavilion and the ten participating companies.
"So it's a powerful driver of collaboration and exchange with our international partners, especially in China. We wish that the exhibition of these companies will promote, I mean, this expertise of French companies in the Chinese market, but also will strengthen the commercial and economic exchange between France and China," said Gondrand.
As a long-standing participant, Australia has organized a national delegation this year and is set to be the guest country at the 2025 fair.
Dominic Trindade, commercial minister at the Australian Embassy in China, said that new comers to the fair hope to further expand into the Chinese market through the fair.
"And so what we sought to do is to work with our businesses and institutions who are taking part in the China International Fair for Trade in Services to build a program of activity. And we see opportunities as China develops," said Trindade.
Dale Pinto, CPA Australia Global President and Chair of the Board, praised China's innovative leadership, expressing excitement about the forum's potential.
"China is our No.1 trading partner as you would know. In many ways as being the leader in many areas and always thinking about new ways of doing things and how to be better, so that's what excites me about this forum as well," said Pinto.
Participants also marveled at China's advancements.
"Because it's so digitalized, and I think that WeChat, as an example, making it easier for foreigners to do this. It's extremely important, because the whole threshold for enjoying China will become much lower," said Henning Kristoffersen, commercial counselor of the Royal Norwegian Embassy in China.
"It's very convenient. And I'm looking forward to when tourists coming in can use it a bit easier. It allows people to come far more easily. Recently, Hainan Airlines introduced a direct flight between Beijing and Dublin, and that has led to large numbers of tourists coming from Ireland to China. We also see an increase in tourists from China to Ireland," said Joseph Keating, commercial counselor of the Irish embassy in China.
CIFTIS serves as important platform for global businesses to tap into vast Chinese market
