The China International Import Expo (CIIE), a showcase of China's commitment to openness, serves as a vital platform for foreign companies to understand the latest trends in the Chinese market, and attending this prestigious event is essential for exploring the vast opportunities that China offers, according to Miles Hurrell, CEO of Fonterra, a New Zealand-based dairy co-operative.
In an interview with China Global Television Network (CGTN), Hurrell emphasized that the CIIE is crucial for companies aiming to adapt their products to meet the needs of the Chinese market, one of Fonterra's most significant markets globally.
"CIIE is a showcase of China's willingness to be open and as you say, it's an important market for us, a very important market. And it's great to see our products here on show, talking to our customers and our consumers in this environment to understand what's on their front of mind. But a lot of the development, or the innovation might have been thought about in New Zealand, but what we do is we bring it into the Chinese market. We have six application centers now around China where we adapt it for local flavors and local tastes, and we've got those on show here over the next few days. And so, as I say, bringing those to life in the Chinese market is something that excites us, and we're really pleased to be here," said Hurrell.
Speaking about the Chinese market, Hurrell noted that China exemplifies the pace of change, making it essential for Fonterra to stay ahead of emerging trends. He stressed the importance of attending the CIIE to keep up with these developments.
"One thing about China -- and we have the luxury, of course, of being a global company and a lot of markets -- but the one thing that always strikes me about China is the pace of change. And so, we are in our seventh year here at CIIE. And every year the trends and the tastes are continuing to change. So, we've got to be one step ahead. But one of the things we're really seeing this year's is a focus on sustainability, a focus on nutrition and well-being. And those are things that have been bubbling away for a while, but we're really starting to see them amplified in more recent times," said Hurrell.
The CEO also highlighted that China's new phase of high-quality development aligns well with Fonterra's focus on sustainability and innovation -- two core pillars of the company's strategy. He believes that with these shared goals, Fonterra has great opportunities to expand in the Chinese market.
"Your focus on sustainability and a focus on innovation are two of the key pillars of the Fonterra's strategy, so it's dear to our heart, it's what we live and breathe every day. And so, we think we've got a great opportunity to bring those to life here in the Chinese market. The pasture-based farming system we operate, the way we care for our cows in New Zealand -- we think there is a great opportunity to bring that into the Chinese market, along with innovation around healthy aging and a focus on nutrition and protein in the diet. And so those things together are very much aligned to the Chinese ambition," he said.
The CIIE is the world's first national-level exposition dedicated to imports. Running from November 5 to 10 under the theme of "New Era, Shared Future," the 7th CIIE has attracted participants from 152 countries, regions and international organizations to participate in its country exhibition and business exhibition.
New Zealand dairy firm CEO highlights CIIE as key platform for adapting to China's evolving market
New Zealand co-operative highlights CIIE as key platform for adapting to China's evolving market
