Multinational enterprises have made full preparations for their displays at the 7th China International Import Expo (CIIE), which opened in Shanghai on Tuesday, to reach more cooperation in the promising Chinese market.
Themed "New Era, Shared Future", the 7th CIIE is scheduled for Nov 5 to 10 in Shanghai, featuring the participation of 3,500 exhibitors from 129 countries and regions for business exhibitions. Notably, 297 exhibitors from Fortune Global 500 companies and industry leaders have attended, marking a historic high.
German-headquartered global cosmetics giant Beiersdorf first attended the CIIE in 2021, when the company debuted a skin care product for whitening and spotlightening. Sales took off in the Chinese market soon afterward.
Three years on, the company has acquired even more partners thanks to the country's booming online economy, according to a senior official with the company.
"Now we find more channels like (fashion ecommerce app) Dewu, like (social media app) Little Red Book (Xiaohongshu). They also brought this CBC channel. So, we'll enhance the cooperation with them. They were coming to German Hamburg, which is our headquarter, next month. They talk with our global e-commerce. We're planning to sign another memorandum of understanding to deepen our cooperation with Dewu," said Ketin Lei, general manager of Corporate Affairs for Beiersdorf China.
Services companies have also seen tangible boosts to sales and product launches at the expo, such as the consulting firm EY, which has been participating in the CIIE since the expo launched in 2018.
"We made the global debut of our ESG intelligent management system during a CIIE in previous years. The system leverages tech approaches to help companies enhance management efficiency in green development and transformation. Right after it was demonstrated, many large financial institutions and industrial parks showed their interest. And there were already clients adopting that system," said Patricia Xia, EY China Central Managing Partner.
Having seen fruitful results in the past, both firms are joining the CIIE this year with bigger ambitions.
"This time we have our nearly entire executive board members coming to China to attend the CIIE. This already shows our commitment in China and Chinese consumer market. We are looking forward, once the new ingredients are approved, we will localize this product, which definitely means more channel, more marketplaces," Lei said.
"The CIIE has brought an excellent opportunity for import firms to contact the vast China market. China has a huge population, with a growing middle-class. And people have strong demand for high-quality imported goods and services. Import firms can show their products and services at the event, and connect with potential clients, learn about the China market and make adjustments to market strategies," said Xia.
Multinational firms regard CIIE as key business promotion channel
