Foreign exhibitors to the 7th China International Import Expo (CIIE) have expressed their confidence in the Chinese market, saying they will tick up their investment in the world's second largest economy.
Themed "New Era, Shared Future", the 7th CIIE is scheduled for November 5-10 in Shanghai. A total of 152 countries, regions and international organizations will participate in the event, including 77 countries and international organizations for national exhibitions, and nearly 3,500 exhibitors from 129 countries and regions for business exhibitions.
A total of 297 Fortune Global 500 and industry-leading companies will participate in the event, a record high.
And 186 companies and institutions have joined in all the seven editions of the expo, demonstrating a strong commitment to the Chinese market.
Roche Diagnostics, a leading Swiss supplier of in-vitro diagnostic products, and Grundfos, a Danish provider of water pump and water technology solutions, have both attended all the editions of the CIIE so far.
At Roche Diagnostics' new headquarters in Shanghai's Pudong District, General Manager Yao Guoliang said an integrated solution for liver cancer diagnosis and treatment will be presented at the expo.
He aims to promote the importance of early diagnosis and treatment of liver cancer.
This year, Roche will unveil over 20 innovative in-vitro diagnostic solutions, many of which will make debut in China.
Similarly, Grundfos will show its smart and energy-efficient water solutions, including four new products to make their global and Asian debuts.
Over the past seven years , both companies have significantly ramped up their investments in China, transitioning from mere exhibitors to active investors.
"In 2018, we completed our factory in Suzhou. This year, we decided to expand our facility with an additional investment of 3 billion yuan (about 422,630 million U.S. dollars), which is expected to be completed in 2027. We anticipate that by 2030, over 80 percent of our reagents will be produced in China, along with a greater variety of our instruments. This will not only benefit patients in China but also have the potential to serve patients in other parts of the world," said Yao.
"Earlier this year, our state of the art, high-end manufacturing plant in Changshu officially started production. And it is really one of our most sustainable factories globally. And it has just been LEED platinum certified. In the future, Grundfos will continue to focus and invest in the Chinese market," said John Markmann, president of Grundfos China.
Both leaders underscored their confidence when talking about the Chinese market.
"China is a key market in Roche Diagnostics' global development strategy, and we have great confidence in China's growth potential. The Chinese economy boasts strong resilience, and in recent years, the Chinese government has consistently upheld openness, continuously easing restrictions on foreign capital while promoting the establishment of a unified domestic market. The Chinese government keeps advancing healthcare reforms and encouraging innovation and research and development," said Yao.
"The Chinese market is really indispensable to us. Actually it is one of our single biggest markets globally. China accounts for 35 percent of global clean energy investments. There has been more attention to policies supporting green buildings and industrial water efficiency improvement. In particular, many new targeted policies support increased openness. For example, we certainly do appreciate China's recent announcement of the visa free policies for many European countries, including Denmark, [showing] Inclusiveness of people and foreign companies which benefit everybody," said Markmann.
Foreign businesses upbeat about Chinese market potential
